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The Imminent Student-Loan Disaster We’re Not Talking About
James G. Martin Center for Academic Renewal ^ | August 7, 2024 | Preston Cooper

Posted on 08/11/2024 6:35:44 AM PDT by karpov

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To: central_va

I think you need to re-read what I wrote! Since I was only talking about the federal student loan we’re essentially in agreement.


61 posted on 08/11/2024 10:04:56 AM PDT by Reily
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To: karpov

“Delinquencies will not appear on their credit records, nor will loans be placed in default or sent to collections.”.

Given that, why would any sane person repay the loan?

No consequences if you don’t.


62 posted on 08/11/2024 10:28:44 AM PDT by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: karpov
>>More than 20 million student borrowers are not paying their loans, and the nation is about to discover what that means.<<

It's sickening to think so many college “educated” people are probably going to vote “D” from here on in, as was the plan all along, I believe. Added to the millions of ILLEGAL invaders already in the country probably getting to vote, the election would be totally corrupted, moreso than the last election.

63 posted on 08/11/2024 10:33:13 AM PDT by Old Grumpy
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To: karpov

“Delinquencies will not appear on their credit records, nor will loans be placed in default or sent to collections.”

I would call that “loan forgiveness by another name” .

So the only consequence of not paying the loan is that you might get a bill in the mail or email that you just toss in the trash can.


64 posted on 08/11/2024 10:34:25 AM PDT by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: karpov

The school gets the cash...You can’t have it both ways.


65 posted on 08/11/2024 10:57:17 AM PDT by Sacajaweau
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To: karpov
... allow borrowers time to ease back into the habit of paying their loans.

That phrase says it all.

66 posted on 08/11/2024 11:01:08 AM PDT by glorgau
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To: FLT-bird

It wasn’t the “professor” making bank, it was the multitude of administrators. Otherwise I really don’t care. Trillions for wars, trillions for illegals, trillions for bums….

I paid for my 3 kids. 1 scholarship, 2 did 2 years at JUCO + 2 years at reasonable price state schools. Ex-wife wanted them to go to pricey schools and get the college experience. All so she could say my kids go to xyz like the idiots she worked with. 30K-40K per year parental bragging rights and kids in dept to their eyeballs. The cost would have killed them because I could not afford it and neither could she. Hence why she is an Ex.

People are stupid and mostly think short term and way overestimate the long term value.


67 posted on 08/11/2024 11:15:24 AM PDT by wgmalabama (Censored!)
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To: FLT-bird
What really caused this problem to take off was ...

The change Congress made in the bankruptcy law so that student loan debt is non-dischargeable.

If student load could be written off in bankruptcy, then most of the current student loans never would have been made in the first place. You would either pay cash for your "Studies" degree, or you would study something useful, or you would go to work.

68 posted on 08/11/2024 11:18:38 AM PDT by T Ruth (Mohammedanism shall be destroyed.)
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