Posted on 04/02/2015 10:13:22 AM PDT by SeekAndFind
“They did not borrow the money from the school.”
The school made the deal with the bank and the check was cut to the school. The kid never saw it.
Are you telling me that the bank didn’t know this was a fraud? They undoubtedly had student loan defaults from these institutions because the kids couldn’t get jobs. They didn’t care because the government was guaranteeing the swindle.
I have no idea what the bank knew. Maybe they knew. Maybe they did not.
If they knew, then and only then would the students be eligible for compensation from the bank.
Apparently so. i am exchanging posts with one of them right now.
But, in NO case should my tax dollars be used to sort out this mess.
If the bank providing the loans WAS in on a fraudulent scheme then the people associated with the bank should be held 100% responsible.
And, any person associated with using taxpayer funds to guarantee loans from such a bank (no matter how high up the federal chain of command they reside) should be subject to the death penalty.
Garnish any and all their wages until it’s paid back. BAM!
No one forced anyone to take the loans. They did it and they will pay them back! It’s my damn tax money that supported those loans! They are stealing from ME!
Borrow and don’t payback - declare bankrupcy, reorganize and get on a payment plan. NOT paying back is NOT an option.
The loans are given to the students. The problem is that the government facilitates huge loans to people without any real assurance or collateral that they will repay them. The colleges keep jacking up the costs knowing that the government will keep raising the amounts that can be borrowed. It is the same kind of thinking that led to the housing bubble.
Yes, the Dems are EXTREMELY generous that way!!
And what I’m saying is the government should say “You’re going where? Uh, no, no loan for that place”.
F*ck that. The government should be out of the loan business period. Obama knew what he was doing when he took it over. It just gives the government more control over our lives. And you can bet that the Dems will politicize this issue by offering to excuse all or part of these loans. The government (read taxpayers) will absorb the losses. In fact, Obama wants free college for everyone.
The last thing I want is the government deciding which schools it will support and which ones it will not.
Cloward and Piven at work. Look for a benevolent government to convert the debt slaves into official indentured servants. It’s brilliant. The Fed kills the middle class and the Universities are the instrument of enslavement. Genius. They even have “conservatives” calling for debtors prisons. I’m in awe.
“She bought her text books used. Guess who was the previous owner of one of her books????.............None other than Monica Lewinsky! “
Might be able to sell that on Ebay when she’s done with it.
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