Posted on 02/13/2018 6:38:48 AM PST by Liberty7732
They should also garnish the pay of the college presidents, administrators, professors etal who took this government money knowing full well that a significant number of their students would never be able to pay it back.
I think part of the crisis is, they want the government to wipe away their debt. Of course, when you drop over $100k for a worthless degree and realize that it ain’t gonna pay the bills, the snowflakes among us start pointing fingers and look to others to save them. They’ve been taught that the, Government, will solve all their problems.
Instead, they (the college employees you mentioned) are likely to come after us again, if their pensions are short of funding when they want to retire.
I once read that the profession that had the highest number of defaulters were those in the medical field. After all that schooling, the doctors either wouldn’t or couldn’t pay back their loans. Back in the day people would change their names and get new SSNs to avoid paying. But, then the rules changed. And, now you can’t run and hide. If you’re behind, you’re not getting a government job, a security clearance or anything like that.
You’re exactly right. When their hero federalized the industry and they knew the kids would have unlimited access to government money, everything increased. I remember reading that the university system in Cali had to increase tuition and fees by 13% or more one year. Funny, I never heard anything about the faculty being asked to take a pay cut or maybe some useless positions being cut for ridiculous degree programs and classes. Government, in all its forms, is nothing but a way for those on the Left to find work, not have to worry about performing and can usually make a comfortable living, doing it.
Did you know all about this?
they do that. If they go after people. People used to be able to get away with not paying. Not anymore. It’s treated like any other debt, with one catch, you can defer your payments if you prove you’re unemployed or still in school. Interest still builds on the loan amount.
So, if you’re a Millenial Hipster that can’t find work, living with your folks and waiting tables for cash, you can defer and defer and defer. Then you have people like Sanders talking about loan forgiveness, why would any one of them write a check.
The housing stuff started with CRA, under Carter. Kind of withered away until Clinton and his enforcer at HUD, Cuomo, started threatening banks and lending institutions. They caved but then learned that they could use Wall St to protect themselves by selling the mortgages, even though the paper wasn’t worth anything. Then it crashed.
How is all that similar? Kids are getting degrees in, NOTHING. But, they throw money at them, like they threw mortgages at them, and they rack up debt. Then they get into the real world. Suppose they’re in IT. Now they have to compete against and H1B visa holder, who will work for nothing.
When I took mine out, which I repaid, I was told that the rules had changed dramatically and that they could not be discharged in a bankruptcy. In fact, they said that most, if not all, the loopholes people used before, name changes, new SSN, etc, were filled and folks couldn’t walk away from them anymore.
But one thing that has them all in an uproar, this is affecting their credit, etc. So, there goes the new Prius, trendy apartment in the latest hipster neighborhood or a mortgage.
George W Bush’s phone were only supposed to go to people that couldn’t afford one and to be used to call 911 and other government entities, for help.
Not be given away on every street corner, then traded for crack, heroin, or an EBT card.
I knew The Kenyan took banks out of the process but didn't know how quickly it went from the black into the red.
Debt is the opioid behind our entire economy, and especially for the "higher education" industry.
We're hopelessly addicted and it will eventually contribute to our inevitable downfall.
ANOTHER MASSIVE DEBT, A FANTASY OF THE KENYAN FAKE PRESIDENT, THE MAGIC NEGRO AND HIS MONEY FAIRY.
If ignorance is bliss, super ignorance and an agenda invariable ends in financial disaster.
Sooner or later, educated, literate and engaged American citizens will have to acknowledge two things.
First of all, that Hussein is without question the most inept and ignorant president in U.S. history. Even 8 years is not long enough to learn on the job to deal with the demands of the office. Historically an unquestioned failure, fully documented by the vast record.
The only preesident on record able to make a trillion$ disappear in a matter of months without a trace. In his first year in office!
Second, the CBO is a fake agency, a total and complete sham, AUATOABP!
A 47 million$ rubber stamp that "confirms" what they receive from Congress for mathematical accuracy only! a thousands of employees adding machine!.
Congress adopts a budget or proposes a large expenditure; assumptions made, that no matter how unreal, absurd and otherworldly cannot be challenged, or modified in any way. Miraculously, most of the time the CBO confirms the financial analysis of what the Congress of criminals submits.
So what's the point of this useless exercise? In the immortal words of that disgraced master scammer, Jonathan Gruber, to "inform" the barely literate ignorant voter!
Does that credibly explain a $23,000,000,000,000 National debt?
Double up on your meds, pappy...
90% of them are "forgiven"
and never pay it back!
By any definition, that's a crisis!
Also "you're busy," NOT "your busy..."
If student loans are revived IN ANY FORM, it must be limited to STEM diplomas, and NEVER FOR HIGH SCHOOL IN "COLLEGE" REMEDIAL COURSES!!!
You "Effed Up?" apply at McDonalds...
We've got our own real American citizen "dreamers" we need to put though university.
I beg to differ.
The govt can't take shit. They don't create wealth. We, the working non govmt employee net taxpayers "take the hit."
You are absolutely right! There are millions of heirs who are actually bastard/errs...
Tell that to the IRS.
In the last decade or two there have been numerous reports of the IRS sizing assets for payment of parents' unpaid taxes that are 35 years old!
That can only happen if the IRS proved the parents tried to hide assets through their children.
If you die, your debts die with you after assets are liquidated to pay them. That’s the law.
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