Posted on 03/18/2022 8:03:26 AM PDT by fatboy
Sen. Patty Murray, D-Wash., is urging President Joe Biden to extend the student loan payment pause to give the administration time to fix broken student loan programs and help student loan borrowers better prepare to make payments.
The original goal of this action was to get people hooked on it and eventually make it permanent.
I would like to know where the money comes from to allow the government to continue making new student loans when about 90% of current borrowers are not making payments.
How bout car loans and mortgages you stupid little Dutch boy lookalike?
They just want to keep the gravy train going without worrying about the consequences. They will at least wait until after the mid-terms to reinstate it. This is vote buying 101.
“I would like to know where the money comes from to allow the government to continue making new student loans when about 90% of current borrowers are not making payments.”
Magic wand...er, mouse...er, quantitative easing*.
* Creating money because they said, “okay, imagine three trillion fresh, new dollars.” (Poof!)
The payment pauses, but the interest accrues. They just get deeper in the hole.
The interest is paused too Babba Gi. There is no incentive to pay right now unless there is actually a desire to repay timely.
Great if Patty will make up the payment deficits out of her own pocket, not mine.
Colleges are supposed to help borrowers to get "better prepared" to pay off their debts, it's called getting a job, being recruitable, having value.
Eliminate all student loan debt and make the universities pay it.
Actually the perfect time to have been paying would have been over the past 2 years. No interest accrual! A great time to pay down that principal.
The universities won’t pay it; they have no skin in the game unfortunately and the politicians won’t touch them. That’s why tuition keeps rising: keeping pace with more lending (student loans) by the government.
Student loan programs are not “broken” any more than mortgage loans or car loans are. Loans are loans and student loans are not “special.” They are just loans.
NO.
Another good thing about that paying student butt he\she (and their parents!) are generally naive about fields of study that have a ROI - That's Return on Investment. (If you're inside academia you wouldn't know (or at least you would pretend not to know!) the meaning of the acronym!). So given that naivety, you talk the paying student butt into useless no future ROI but trendy & woke programs at your school. (These programs do nothing for the student's future but make you the administrator and the school look good to others in the academic universe!
Who's ultimately at fault:
1. Those voters who blindly acquiesce to anything “education”. They hear the words “It's for the children!” and they shower the academic con artist with money.
2. If public institutions state legislators who react like the voters in item 1. Their job should be to ROI test programs the taxpayer pays for for. If private institutions its their governing board's responsibility and the alumni! Small private institutions are headed for extinction and going trendy will only accelerate it. Only going ROI will fix it. Give the students a reason to go there!
3.Governing boards (both types of schools!) who won't hold school presidents feet to the fire over things like ROI. Yes you may take heat by those playing the Race Card, show some guts and do it!
4. Students, parents & K12 academic counselors who don't think critically about the students need to go the college\university. (Perhaps a four year paid party & vacation from reality is the goal. I knew some parents who thought this way!) Also think critically about the college\university claims in general & its academic program claims in particular.
It’s always a good time to pay down principal ;)
My understanding is that the interest still accrues. What good does deferral do, when the interest continues to rack up? (I know, you don’t have to pay a on the principal).
How many stories are here in one day with Democrats “urging” someone to commit more institutional evil?’
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