Posted on 11/22/2011 2:49:48 PM PST by 2ndDivisionVet
The OWSers are also demanding that student loans be interest free. Which is interesting since Sharia law forbids the charging of interest. It’s another one of those funny commonalities that you see between Islam and the Left. In this case they both want to impose their cosmic moral feelings onto the financial realm.
These days liberals want lenders prison for lenders who were forced to make loans to people who can’t pay.
Actually, the best answer here is to simply limit the loans to a reasonable amount of money. The max that the government ought to loan out for student loans is $40k...end of the story. If the kid wants more....let him deal with the mafia and their loan program.
Everybody want's free stuff on our dime.
Screw it,let's all raise our withholding to 5 for a year,starve the Federal Government,they just blow our money anyway.
In theory islam is a pretty socialistic “religion”.
their beef should be with the universities that have raised the costs of college beyond the worth.
1. leftist controlled faculties.
2. tenure for life for duds.
3. over-paid faculty.
4. most universities in the’90s reduced teaching loads by 1/3.
5. non-essential programs and staff.
YEAH!! That'll teach us!!
I've kinda been waiting for this. They don't seem to understand that THEY applied for the loans to go to school, THEY got the education and THEY incurred the debt!!
And these people blame the "1%" for the problems of this coutry!!??? They slept (or were stoned) through too many of the classes that the rest of us paid for!!
PAY YOUR D@MN BILLS, YOU LAZY WHINERS, AND GET A JOB (AFTER you get a bath and clean clothes)!!!!!
While defaulting isn't the end of the world for these kids, the Government WILL get their money back. The kids should be protesting or suing their "higher learning" institutions for selling bullshit degrees.
End of the day however, they are now financial slaves by their own doing. I wonder when passports will be voided if "Student Loans" are not "current"?
Hmmm about 400,000 College Faculty and grad students are covered by collectively bargained contracts. So the Unions who are supporting the Occupied cause are the ones responsible for the tuition increases, which pays the salaries of their teachers.
Well hell’s bells, I should just “default” on my mortgage as well. And especially on all the taxes I pay that provide the freebies all these yahoos want.
Go Ahead and not pay on the student loans.
First they will be turned over to a debt collector. Debt collector tacks on upwards to 20% for recovery fees. Debt collector then will put a federal wage garnishment on their income to the tune of 15%. The IRS will garnish any and all tax return monies. Even Social Security will garnish 10% of payments.
Even if they are not employed the cock keeps ticking. The interest on these loans just keeps on cranking.
No one escape paying on the loans.
My biggest bills are for taxes. Can I stop paying them?
Good. Starve the B. Big government cannot stay big with a worthless currency and little manufacturing to generate sustainable revenues.
Great advice to 20 somethings whose only credit history is probably their student loan. Quit making the payments and let your credit score go down to about 520. Then when you get one of those good jobs with your college degree and try to buy a new car or a home etc. you will be SOL in the USSA.
OMG! I thought that being surrounded by liberals I’d seen everything but I’m surprised everyday by some OWS interview. The worst so far was the woman that thought they had it great in North Korea because it was not capitalist.
I can’t help but wonder if they learned the exact wrong lesson from the city managers telling them that they must follow the law and then letting them break them, and the cops arresting them and then the courts dismissing their cases en masse.
They now think that they can misbehave with impunity. I seriously doubt that the finance industry is going to let them skate on their obligations.
More likely what we’ll see is most of an entire generation sentenced to self-imposed financial exile and relentlessly hounded by collection agents. Works for me.
The professional managerial class is just as corrupt in academe as in banking or government.
It will also make the public despise the OWS even more than it does now and undermine their nonsense further. These guys are the stupidest revolutionaries ever.
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