Hey why all this focus on bad loans for mortgages. Everyone ignores the atrocious student loan situation. Colleges in bed with the banks and the Gov’t dupe kids and parents into floating monstrous loans (while tuitions continue to rise). When students get out of school owing 20, 30, 40 thousand dollars many of these loans can’t be repaid and are defaulted on as well. And the Democrats want to increase money to the program? Does anyone dare to say enough? Because education is good. Repeat the words, education is good, good, good...
Agreed, My wife and I have paid over $20k already on her loans, adn still have more ot go.
“When students get out of school owing 20, 30, 40 thousand dollars many of these loans can’t be repaid and are defaulted on as well.”
I have been working very hard to become debt free and when I start hammering my SL in March, I sent them a very large payment. Well, after that I received a nasty letter about the size of my payment and that I should not be paying it off that quickly. I gave them a call and offered them the choice that I would pay what I owe, at my pace, or that I could just default on the loan. Obviously they chose to let me make the large payments.
Sometimes I think they like the defaults so that they can turn to the government for the cash. I should be done with those fargin bastiges by November.....