Student loan debt

[Fernando]

It’s long past time to eliminate usury from our education system. The federal student loan program has become a mechanism for institutionalized predatory lending, burdening generations with unpayable debt. We should cancel these loans entirely and reset the system — no more interest-bearing debt for education. And if creditors take a loss, so be it — they write off corporate debt constantly without blinking. It's time students got the same treatment."

Credit card interest rates are usury worse than student loan rates. If no more student loans, students will borrow more from credit cards which is even worse.

 

[Mejappz]

Credit card interest rates are usury worse than student loan rates. If no more student loans, students will borrow more from credit cards which is even worse.

We need to completely eliminate usury from the US economy. This change will not happen overnight, as the economy has relied on usury since the early 1970s. However, if we want to create a prosperous economy for everyone, it is essential to take this step. Otherwise, we risk continuing the Shylock economy we've experienced for the past 50 years which is crippling the Country.

 

[Mark K]

Ten in a Row for The Zoe. New record.

Sadly, probably not a record.

And Zoe keeps talking BK like someone's "mentor" but isn't even remotely aware that the VAST majority of student loan borrowers cannot discharge student loans in BK nor realizes what a M2 money supply is. Talking nonsense like usual.

 

[Charles West]

It’s long past time to eliminate usury from our education system. The federal student loan program has become a mechanism for institutionalized predatory lending, burdening generations with unpayable debt. We should cancel these loans entirely and reset the system — no more interest-bearing debt for education. And if creditors take a loss, so be it — they write off corporate debt constantly without blinking. It's time students got the same treatment."

They are federally guaranteed loans, aren't they? That means you pay the four thousand or so to cover their sloth and irresponsibility.

 

[Fernando]

Last month I had a potential tenant making $200,000 working for Big High Tech company.
I was surprised he still had a $20,000 student loan.
Makes me wonder if he's smart in leveraging his money or not make enough money to still have student loan.

I don't understand why those with student loans take out large car loans and pay but put student loan low in their priority. A cheap practical car is sufficient.
Maybe waiting in hope that government will wipe out their loan?
I gave up with Biden and paid my daughter's government loan off in one lump sum.

 

[JTip]

Student loans cannot be dissolved by a bankruptcy.

They will be forgiven being fully disabled, PSLF program (or similar program) or paid in full. Oh, and I forgot, DEATH.

Everything else is fake news.

 

[Zoe]

Student loans cannot be dissolved by a bankruptcy.

They will be forgiven being fully disabled, PSLF program (or similar program) or paid in full. Oh, and I forgot, DEATH.

Everything else is fake news.

I guess that is kinda like income taxes. You can't file bankruptcy against the IRS.

 

[Bobby Bucks]

Student loan debt should all be forgiven because Trump is a rude rich guy.

 

[Zoe]

Last month I had a potential tenant making $200,000 working for Big High Tech company.
I was surprised he still had a $20,000 student loan.
Makes me wonder if he's smart in leveraging his money or not make enough money to still have student loan.

I don't understand why those with student loans take out large car loans and pay but put student loan low in their priority. A cheap practical car is sufficient.
Maybe waiting in hope that government will wipe out their loan?
I gave up with Biden and paid my daughter's government loan off in one lump sum.

One reason may be the interest rate is low. I agree with you though. It don't really make sense.

It appears many are having a hard time paying it back period. Kinda like credit cards.

I saw a nurse on news this morning. I think she owes around $40K. She said they are just living paycheck to paycheck and trying to pay it back.

I am sure she makes good money. Nurses make good money. Good health insurance and other fringe benefits. I don't know what her husband does. She may have said and I missed it.

 

[Zoe]

My daughter and her husband still owe some. I don't know how much. But they are both doctors and make real good money. They will pay it back. We could not afford medical school. His parents could not either. My daughter got some help due to good grades but they still had to borrow a bunch. They bought expensive home, send children to very expensive private school. It all costs money.

They have nice cars but not extravagant on cars. His transmission just went out a little while back and had to get a new truck.