I have PARENT loans that my Estate will pay on.
I’m not interested in having them forgiven.
They were made with the best intentions for my children.
I regret nothing.
Prayer reminder...3:15 EST.
Our country needs our prayers.
Our FRens could use some too.
Be still before the LORD and wait patiently
for him; do not fret when men succeed in their
ways, when they carry out their wicked schemes.
Refrain from anger and turn from wrath; do not
fret - it leads only to evil. For evil men will
be cut off, but those who hope in the LORD will
inherit the land.
Psa. 37:7-9
I’m talking about people like the guy I heard on Ramsey once who’d gotten into medical school, accumulated ~400,000 student debt and then dropped out/failed to graduate.
That guy could just pay $5 monthly until he dies. He’s never going to hold a job that makes an actual amortized monthly payment until payoff on it. The institutions are also culpable in this, along with the government, by distorting the market with prolific money issuance and no risk. Universities filled up with trash courses and degrees to soak up this largess. Coupled with AI, and Data availability at fingertips, there is very little rationale for shelling more than room and board cost for a college education because you can get the exact same thing over the internet without all of the attendant Marxist BS.
It’s kick ass you’ve structured to pay off the loan[s], and I’m all for paying off debts, but unless we’re going back to debtors prisons Bankruptcy needs to cover EVERY contractual obligation with the lender responsible for risk, and pricing the interest and size of the loan based on their interpretation of borrowers financial and social responsibility.