Posted on 04/13/2022 12:46:54 PM PDT by ChicagoConservative27
Senate Majority Leader Charles Schumer (D-N.Y.) told activists on Wednesday that President Biden and his senior advisers are warming up to the idea of forgiving student debt, insisting they are closer to pulling the trigger “than ever before.”
Schumer, who has repeatedly called for canceling up to $50,000 in student debt per borrower, predicted that’s where the president and his administration will ultimately land.
(Excerpt) Read more at thehill.com ...
Well there goes Sallie Mae. Good luck funding future loans.
Give each student loan holder a special coin that pays off their balance.
I think that a recent poll revealed that college-“educated” women are Biden’s biggest fans.
One silver lining is that if nobody is willing to offer student loans, it will cause the scam-tastic college tuition system to collapse for lack of customers.
Illegal immigration is not fair to those who legally entered the country and cancelling student debt is an insult to those who paid off their loans.
After that, “free tuition”.
Why is “ever before” Chuckies favorite saying ?
Probably waiting until closer to the mid-terms for the biggest bang-for-the-buck.
refunds from the schools that ripped them off
Hey smucky what about everyone the worked to pay off their student debit. They get nothing,
This could dramatically alter the Balance Sheet of many banks.
Could be declared insolvent.
The taxpayers would ultimately lose out on that giveaway.
Probably about right - in effect they still pay for it (and the rest of us) through inflation - and them some.
I worked hard and sacrificed doing many things to get my loans paid off. Also didn’t borrow more than I could pay back. It was my debt to pay - I accepted the responsibilities of borrowing the money. Now I get penalized for that to pay for degrees of people too irresponsible to know better - we pay big bucks for degrees of these people that aren’t even worth the paper they were printed on if they think this makes sense.
Why stop there?
Let's cancel mortgage debt!
Let's cancel auto debt!
Let's cancel credit card debt!
.
.
.
Can I get a democrat Amen??!!
On a serious note, the law needs to change to allow students and parents holding school debt to file bankruptcy. Current laws shelter schools and banks. Let them put their skin in the game! Let them change their lending and acceptance policies knowing they can and will be held liable for student income lost through bankruptcy.
Price controls on tuition and college staff pay! < / s >
But seriously - if the college graduates cannot pay back their loans, then they are not providing a positive return on investment - it’s a negative return on investment. We don’t need to be investing in something that is essentially a net negative to the economy.
Gonna piss off the responsible people.
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The Democrats don’t care. It’s their constituents whose bills will be paid.
And what can the rest of us do other have our tax money taken to pay off their debts?
Why not give every US citizen $50,000 and require those with education debt to pay it to lower their debt?
I agree. The point I was trying to make is that with other forms of debt, the Seller can suffer loss if the Buyer is released from that debt via bankruptcy. The law places school debt in a unique category where it's very difficult to be released from that debt through conventional bankruptcy. Pun intended, schools and banks - bank on this fact. If standard bankruptcy laws & rules applied to student debt, banks and schools would be more judicious as to whom they will lend and how much they lend - for school loans.
“My brother-in-law even joked when he took them out
(pursuing a Master of Divinity of all things) that he was never paying his back.”
Wow. Maybe he should have gone for the PHD.
Couldn’t any taxpayer sue saying that we are damaged by this giveaway? That would give us standing.
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