Owe Money On That Student Loan?
- Thread starter wkmac
- Start date
trplnkl
555
According to the article this incident wasn't about the loan being in arrears or even in default, but of criminal charges for fraud. I would say the officers acted too vigorously and improperly, but the the thread title and the sentence are very misleading.
UpstateNYUPSer(Ret)
Well-Known Member
He has a habit of doing that--I called him out on this in his "marriage rates dropping due to the gays" thread. Yellow journalism.
Wally
BrownCafe Innovator & King of Puns
Babagounj
Strength through joy
“American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies,” U.S. Secretary of Education Linda McMahon said in a statement.
“The Biden Administration misled borrowers: the executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear,” McMahon continued. “Hundreds of billions have already been transferred to taxpayers. Going forward, the Department of Education, in conjunction with the Department of Treasury, will shepherd the student loan program responsibly and according to the law.
Wow, actually making people who signed a legally binding contract to repay their loans.
That will quickly make some democrats forget all about the El Salvadorian.
“The Biden Administration misled borrowers: the executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear,” McMahon continued. “Hundreds of billions have already been transferred to taxpayers. Going forward, the Department of Education, in conjunction with the Department of Treasury, will shepherd the student loan program responsibly and according to the law.
Wow, actually making people who signed a legally binding contract to repay their loans.
That will quickly make some democrats forget all about the El Salvadorian.
Over70irregs
❤️ MORE 😡 LESS
Crap Biden tried right?….right? Thats cold considering all $ spent overseas. They don’t want you free.
DriveInDriѵeOut
Inordinately Right
Over70irregs
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Mommy my salmon is cold
oldngray
nowhere special
but Biden said we wouldn't have to pay back that money!
Over70irregs
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I think he knew or his crew knew it wouldn’t pass. The system requires slaves which is why you couldn’t discharge in bankruptcy.
The problem with this great conspiracy of the system is people do that to themselves. They make a decision. The system merely enforces, to the extent it can, the terms of the agreement. The problem with our system is a college degree in a service economy doesn't guarantee a great future. And that our universities are complicit in selling the idea that paying exorbitant amounts to get an education will pay off so it's justified. But graduates are finding out that unless they specialize in a skill set that pays well they're stuck paying back loans that inhibit them from having that great life they envisioned. Easy answer? Vote for politicians who'll let them off the hook at taxpayers expense.
oldngray
nowhere special
buying votes
Thebrownblob
Well-Known Member
Really no need to make it affordable since they can lock these people into these loans they can never get out of. Thanks Obama. Permanent debt slaves.
The Real Student Loan Crisis Is The One Obama Created
Irresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is... Read More
www.investors.com
In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.
The cost savings didn't happen. In fact, the Congressional Budget Office just increased its 10-year forecast for the loan program's costs by $27 billion, or 30%.
What did happen was an explosive growth in the amount of federal student loan debt. President Clinton phased in direct federal lending in 1993 as an option, but over the next 15 years the amount of loans was fairly stable. The result of Obama's action is striking. In each of the past six years, federal direct student loan debt has climbed by more than $100 billion. (See chart.)
And since Obama keeps making it easier and easier to avoid repaying those loans, it's a problem that taxpayers will eventually have to shoulder.
Through words and actions, Obama has encouraged irresponsibility on the part of student borrowers. He constantly talks as if student debt were an unfair burden they unknowingly had foisted upon them.
Wally
BrownCafe Innovator & King of Puns
The problem is not the loans, but rather the amount needed to borrow. College's can, if they truly had to, slash the cost tremendously.Really no need to make it affordable since they can lock these people into these loans they can never get out of. Thanks Obama. Permanent debt slaves.
The Real Student Loan Crisis Is The One Obama Created
Irresponsibility: A new report finds that 27.3% of student loans are delinquent. Why does this matter? Because thanks to President Obama, about $1 trillion dollars of student loan debt is... Read More
In 2010, Obama eliminated the federal guaranteed loan program, which let private lenders offer student loans at low interest rates. Now, the Department of Education is the only place to go for such loans.
The cost savings didn't happen. In fact, the Congressional Budget Office just increased its 10-year forecast for the loan program's costs by $27 billion, or 30%.
What did happen was an explosive growth in the amount of federal student loan debt. President Clinton phased in direct federal lending in 1993 as an option, but over the next 15 years the amount of loans was fairly stable. The result of Obama's action is striking. In each of the past six years, federal direct student loan debt has climbed by more than $100 billion. (See chart.)
And since Obama keeps making it easier and easier to avoid repaying those loans, it's a problem that taxpayers will eventually have to shoulder.
Through words and actions, Obama has encouraged irresponsibility on the part of student borrowers. He constantly talks as if student debt were an unfair burden they unknowingly had foisted upon them.
bottomups
Bad Moon Risen'
No need for an education anymore. Just become a farmer and wait for the handouts.
Don't think I've ever met someone as anti farmer as you are.
bottomups
Bad Moon Risen'
I'm not anti farmer. I'm anti government bailouts and they seem to get more than their fair share.
Over70irregs
❤️ MORE 😡 LESS
Too late dependance is set
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