Townhall-
Lending money is not, as they say, rocket science.
According to the Federal Reserve Bank of St. Louis, in the last quarter of 2021, of the total of all outstanding business loans from all commercial banks, 1.08% were delinquent.
Per the Federal Reserve Bank of New York, as of second quarter 2021, a little over 2% of the $1.4 trillion outstanding in auto loans were delinquent.
Yet in the student loan market, totaling around $1.6 trillion, not that different from the total size of the auto loan market, an average of 15% are in default at any given time, per the Education Data Initiative.
It should be clear what the problem is.
Auto lenders make sure that those to whom they lend can and will pay back the loan. They are careful because if the borrower defaults, the lender loses. more
MAD AS HELL. Millennial gets useless degree in lesbian
gender studies costing 80,000 ends up at Starbucks for
$10 hour.Now creep biden wants YOU & ME to pay for it
with interest! I paid 24k for my 2 year tech degree at
8% interest.It took me 5 years after school to pay it off, ALL OF IT !!!!!!!!!!
Big Education, a characterization you never hear bc they manufacture new pink hair progs, can raise tuition bc no one pays sticker price. And who is to blame? Government, and no one in government has the balls to call out high Ed for their profitable racket
Pay off college loans and where does it stop?
Hey pay off my house loan that I can’t afford!
Who can afford a car at these inflated rates!
Why Uncle Sucker can!
So the idea is that 80% of the loans which went to Ivy League snot noses who now earn six figures are forgiven and paid for with the taxes of those who could never afford college in the first place.
Sounds about right for a Demonrat concept. You know I wonder where all the trolls gave gone recently.
Apparently even those commie bastards can no longer defend this kind of cruelty.
Same bastards who plan on taking VA assets and redirect them to illegals.
They want a civil war and a revolution So they can instate martial law and stop the midterms.
Who doesn’t pay sticker price? Other than MERIT scholarships my kids EARNED, I paid rack rate.
But here’s a thought to entertain, re auto loans v student loans:
If you don’t pay your car loan, they repossess that car.
So, if loans are reneged on, CANCEL THOSE DEGREES. They shouldn’t claim a college degree, or any of time spent (which is an accomplishment, a credential for employment, at some level).
Why should these deadbeats get forever ownership of something they didn’t pay for??
Cisco,
it’s getting to the point where we will fight that revolution.
But when it gets hot and much badder than those pantywaists in grubermint ever imagined, we must carry it to completion. No mercy, no quarter. Leaving no iota of their evil existence, wipe the world free of their crap in a resounding manner to echo for generations.
DO NOT ALLOW YOUR CHILDREN OR GRANDCHILDREN TO GO AWAY TO COLLEGE. Kids that went away come back Libtard Zombies. Kids that get into the trades or find other paths grow up as conservatives.
If your poor choices in education aren’t worth enough for you to pay off your debts, just why the hell do you think it should be worth anything to me??
The current government is always looking for new ways to buy devotees.
George W. Bush is the reason the student loan is now a bloated beached government supported whale. In his Bankruptcy Reform Act of 2005 he made it illegal to discharge student loans via personal bankruptcy. Borrower creditworthiness went out the window and lenders of all stripes started giving out student loans like candy at Halloween. This allowed borrowers who wouldn’t be able to buy a house borrow 100,000, 200,000 et al regardless of creditworthiness. In 2010 the Kenyan finished the deal by federalizing student loans. Instead of eliminating student loan debt, the 2005 Bankruptcy Reform Act should be voided or modified to where student loans can, once again, be discharged via personal bankruptcy. To prevent borrowers from graduating then declaring bankruptcy immediately, have the law require that it must be 10 years since last student loan taken before a student loan can be discharged via personal bankruptcy. This would give the borrower a lesson in finance and personal responsibility about their choices.
So, doing “due diligence”, a bankster said “Why do you want this loan?”. (That the government will pay me for writing up this form for. Regardless of sanity. As long as I send the rightly numbered form. To the right address.) And the “client” said “Disproving everyone, including my own, lying eyes.” I stamped my rubber stamp. The government created more fake money. That went into my boss’ accounts.
Now drooling tards who’s bestest argument is “No fair!” while Brand(on)ing their underpants, are worried that the checks that have already cleared, might clear.
“‘Tis truly a wonderment that ‘Step 2’ could ever happen.” Says every Gnome(TM). Every where. Every time.
A loan is a contract. If you renege, you are not trustworthy.
One of Ronny’s biggest complaints was “welfare for the rich”;this is an example.
I graduated debt free. 64 years ago I “worked the fields” rto save money for college. 61 years ago; while an undergrad I worked many jobs. One of the GLAMOR JOBS i did was diShwasher, which paid $1.oo an hour! But i paid all my bill on time; no debt.
These lazy _. _. should take advice from a R+R song year before I picked fruit and worked irrigation, GET A JOB!
Welfare for the rich!
@an ol exJarhead May 5, 2022 at 4:28 pm
> I graduated debt free.
You wave that as a flag. Instead of understanding it as signing your “enemy” card.
“A motivating discussion is worth comment. I believe that you need to publish more on this subject matter, it may not be a taboo subject but usually people do not discuss such subjects. To the next! Many thanks!!”
http://www.chinoartelengua.com/respuestas/index.php?qa=501366&qa_1=%E2%AD%90%E2%9D%A3%E2%9D%A4%EF%B8%8F%E2%9D%A3%E2%AD%90-%D7%A2%D7%99%D7%A1%D7%95%D7%99-%D7%9E%D7%A4%D7%A0%D7%A7-%E2%AD%90%E2%9D%A3%E2%9D%A4%EF%B8%8F%E2%9D%A3%E2%AD%90
Went to Tech School 1970, had afternoon classes so I had a part time job in mornings to pay school, food and rent. Rented a room from a private family. Had no car, I walked 1.3 miles to work then another .4 miles to school. Worked for 40+ years, retired, took my IRA and put my daughter thru college for Masters degree. Didn’t have a student loan, I worked for my education and proud of it.
@Forgotonia May 5, 2022 at 11:20 pm
> and proud of it
And that, is why children are being raped to death.
Until Loyal Citizens(TM) cry out, publicly, that “It was a lie!”… “I was lied to!”… (they don’t have to own why they “believed” the lies… just agree that they “went along”), their rulers will continue cashing “the checks”.