FOT's w/ School Loans; Check this out.

[Andy]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

[senorcorazon]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

I think the problem might be that many colleges/universities don't do a good job explaining the terms, most 18-year-olds don't understand compounding interest, and many times people sign semester to semester or year to year loans without comprehending the full cost.

None of which forgives the fact that I signed a loan agreement for the University of Dumbass and need to just deal with it. Nor that Citibank should be making high interest off people who did "what you're supposed to do" and went to college.

[iAmBaronVonTito]

Higher education shouldn't be free but it shouldn't be charged interest either.

thats pretty much my sentiment.  i also used to believe college should be free, but ive always been confused by the concept of interest anyway, college loan or otherwise.

[yesno]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Why not?

[Andy]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Why not?

want to loan me some money?

[yesno]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Why not?

want to loan me some money?

Sure, if I get to just print my own or borrow it from China.

[Jack from Arkansas]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Andy, you have posted multiple times about stealing a camera from work yet you act sanctimonious about a program that borrowers can use that is sensitive to their income level but ensures the government will be paid for 10 years for the public sector and 25 years for the private sector on the balance of the loan.  You need to be pragmatic and consider that this might keep people from defaulting on their loan. 
     I don't care for your smug tone.

[yesno]

That public men publish falsehoods
Is nothing new. That America must accept
Like the historical republics corruption and empire
Has been known for years.

Be angry at the sun for setting
If these things anger you. Watch the wheel slope and turn,
They are all bound on the wheel, these people, those warriors.
This republic, Europe, Asia.

Observe them gesticulating,
Observe them going down. The gang serves lies, the passionate
Man plays his part; the cold passion for truth
Hunts in no pack.

You are not Catullus, you know,
To lampoon these crude sketches of Caesar. You are far
From Dante's feet, but even farther from his dirty
Political hatreds.

Let boys want pleasure, and men
Struggle for power, and women perhaps for fame,
And the servile to serve a Leader and the dupes to be duped.
Yours is not theirs.

[Andy]

Andy, you have posted multiple times about stealing a camera from work yet you act sanctimonious about a program that borrowers can use that is sensitive to their income level but ensures the government will be paid for 10 years for the public sector and 25 years for the private sector on the balance of the loan.  You need to be pragmatic and consider that this might keep people from defaulting on their loan. 
     I don't care for your smug tone.

nice diversionary tactic, but I never said I was going to steal the camera. I would be using it both personally and professionally, although admittedly it would be a stretch to justify the cost to my company if I had to.

Are you now able to discharge student loans? I would benefit greatly from this measure, as I'm currently paying for $40,000 of school debt that my wife compiled throughout her undergrad (philosophy) and grad degrees (MHA). She has worked for the VA for 4 years, so we'd only be about 6 years from having her loans taken care of. I just don't think it's right, as a matter of personal responsibility. I feel like there are other measures that could/should be taken in lieu of just wiping the slate clean after a certain number of years.

But what the fuck do I know? I'm just a camera thief.

[A.M. Thomas]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Because higher education is too expensive.

[Jack from Arkansas]

Andy, you have posted multiple times about stealing a camera from work yet you act sanctimonious about a program that borrowers can use that is sensitive to their income level but ensures the government will be paid for 10 years for the public sector and 25 years for the private sector on the balance of the loan.  You need to be pragmatic and consider that this might keep people from defaulting on their loan.  
     I don't care for your smug tone.

nice diversionary tactic, but I never said I was going to steal the camera. I would be using it both personally and professionally, although admittedly it would be a stretch to justify the cost to my company if I had to.

Are you now able to discharge student loans? I would benefit greatly from this measure, as I'm currently paying for $40,000 of school debt that my wife compiled throughout her undergrad (philosophy) and grad degrees (MHA). She has worked for the VA for 4 years, so we'd only be about 6 years from having her loans taken care of. I just don't think it's right, as a matter of personal responsibility. I feel like there are other measures that could/should be taken in lieu of just wiping the slate clean after a certain number of years.

But what the fuck do I know? I'm just a camera thief.

I never said you are a camera thief.  I said you posted about stealing a camera and I thought it made you sound like a hypocrite talking about personal responsibilit and saying the article I posted was bullshit.  I don't give a fuck what you do.  You can choose to use this or not for the loans you have.  I don't like you.

[Andy]

Why should any debt that someone willingly signs up for be forgiven before it is repaid?

Because higher education is too expensive.

if you feel it's too expensive, don't take the loans.

also, forgiving loans in this manner doesn't make it any less expensive, it just makes it less expensive for the person getting the debt relief.

[yesno]

The government would be justified in forgiving or reducing money owed to it if the cost outweighed the benefit.  If you owe me $10, I can forgive that if you agree to do something else for me.  So I don't think the public service aspects could be that objectionable; it's not like mortgage cramdowns.  It's the same as paying someone to do something.  It might not be the most efficient way to go about things but it's certainly reasonable.

For the non-public service aspects, young people with high indebtedness might be a drag on the economy.  So the government could think it's in the public interest to cut people a break, even if they don't "deserve" it.  I don't think anyone deserves anything.  But it is still sometimes the best course to give people undeserved bounties.

Student loans that the government issues are already not the same as private loans.  It's already a subsidy program to students and higher ed.  People get low interest rates they don't "deserve", tax advantages not available with private loans, etc. So the pool has already been pissed in.  This is just one more way for the government to rob Peter to pay Paul.  (Federal education types often say that student loans pay for themselves, but that's horseshit, given the lost tax revenue, opportunity costs, and so on.)

In reality, there is probably little direct benefit to the program, since all these people already went to college. I assume the idea is to encourage more people to go to college.  But the backlash against giving new students better deals not available to people with existing loans would be horrendous.  That in itself is a reason for the government to act in ways that a bank never would.  In a democracy, people can always vote themselves free money.

[Andy]

score a threadkill for higher education. the science is too tight.

[buffcoat]

I still like you, Andy.