Warren’s plan is simply another fantasy. If she really wanted to do something, she could introduce a bill TODAY that would again allow student loans to be dismissed when filing bankruptcy. This would stop loans made to students that can’t realistically make it through college in the first place – but they are given loans since the lenders know they will still collect.
The really scary part is that I have heard actual talking heads using this exact argument.
The answer, by the way, is to simply allow folks who’ve made loan payments to request a repayment, spread over time, to make them whole. Of course that’s not enough for the whacko leftists who might want reparations to the children unto the umpteenth generation of people who couldn’t afford school in the 1800s… or payments to the descendants of the folk who paid for their kids’ educations… or something of equal lunacy.
The other answer, imo, is to start by reducing the rate of student loans to effective zero. Then the initial payback for the ones who paid is just the (compounded) interest that they’ve paid so far.
We need Lyndon Johnson to come in and explain to FDR that the whole idea is to invest in our citizens, who then would earn more and pay back more in taxes. It also means that should former students have hardship — especially because the middle class is shrinking and the corporations are shipping off the good jobs — then they should be able to declare bankruptcy on those loans. It is a slap in their faces that they risked college to get ahead only to see the idle rich (such as the god of narcissism) manipulate those laws to steal from others who also risked their capital.
Feel free to donate you own money to this BS. Don’t ask me to pay for it. If the Govt had stayed out of the student loan business we wouldn’t have this problem and tuition wouldn’t be so damned inflated.
When I went to college student loans were a private transaction. You presented your test scores, your transcript and a “business plan” of your planned curriculum. If you were smart and had good grades, and chose a path that had a reasonable chance of paying off the loan, you got funding. Otherwise, if you wanted to go to college you worked your ass off.
superposition about 5 years ago
Ah, the dark side of progressivism … continually trying to disrupt the sacred status quo.
Masterskrain Premium Member about 5 years ago
Without change, we’d STILL be driving buggies to Pop’s General Store for our weekly shopping trips, and using Kerosene lamps in our homes.
thebashfulone about 5 years ago
Nicely put, Brian. Nicely put.
Darsan54 Premium Member about 5 years ago
Seriously? This is an excuse being used to fight change? “We’ve never done that before?” The POT is more stupid than I thought.
thelordthygod666 about 5 years ago
Warren’s plan is simply another fantasy. If she really wanted to do something, she could introduce a bill TODAY that would again allow student loans to be dismissed when filing bankruptcy. This would stop loans made to students that can’t realistically make it through college in the first place – but they are given loans since the lenders know they will still collect.
Teto85 Premium Member about 5 years ago
Pass, put into law, FDR’s Second Bill of Rights.
Concretionist about 5 years ago
The really scary part is that I have heard actual talking heads using this exact argument.
The answer, by the way, is to simply allow folks who’ve made loan payments to request a repayment, spread over time, to make them whole. Of course that’s not enough for the whacko leftists who might want reparations to the children unto the umpteenth generation of people who couldn’t afford school in the 1800s… or payments to the descendants of the folk who paid for their kids’ educations… or something of equal lunacy.
The other answer, imo, is to start by reducing the rate of student loans to effective zero. Then the initial payback for the ones who paid is just the (compounded) interest that they’ve paid so far.
VegaAlopex about 5 years ago
We need Lyndon Johnson to come in and explain to FDR that the whole idea is to invest in our citizens, who then would earn more and pay back more in taxes. It also means that should former students have hardship — especially because the middle class is shrinking and the corporations are shipping off the good jobs — then they should be able to declare bankruptcy on those loans. It is a slap in their faces that they risked college to get ahead only to see the idle rich (such as the god of narcissism) manipulate those laws to steal from others who also risked their capital.
Andylit Premium Member about 5 years ago
Feel free to donate you own money to this BS. Don’t ask me to pay for it. If the Govt had stayed out of the student loan business we wouldn’t have this problem and tuition wouldn’t be so damned inflated.
When I went to college student loans were a private transaction. You presented your test scores, your transcript and a “business plan” of your planned curriculum. If you were smart and had good grades, and chose a path that had a reasonable chance of paying off the loan, you got funding. Otherwise, if you wanted to go to college you worked your ass off.
kaffekup about 5 years ago
We might have had a proper bailout of the home mortgage debacle if we could have helped people in trouble instead of throwing money at rich banksters.
But no, people who weren’t in trouble wouldn’t allow it because, “nothing for me in it”.