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Thread: Should taxpayer money be used to pay for student loans?

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    Should taxpayer money be used to pay for student loans?

    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Rocketman View Post
    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.
    if he can not find a job, how can he pay it back?

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    Re: Should taxpayer money be used to pay for student loans?

    I think you can still feel sorry for someone and say that it's not your obligation to pay their debts.

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    warrior of the wetlands
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Rocketman View Post
    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.
    fortunately, declaring bankruptcy to get out of student loans, I believe, has become a lot harder



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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Unitedwestand13 View Post
    if he can not find a job, how can he pay it back?
    In AU, it only comes out when you start earning over ~50k. It's also pretax and only indexed to inflation.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Unitedwestand13 View Post
    if he can not find a job, how can he pay it back?
    If he can't find a job, why did he have a mortgage?

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by TurtleDude View Post
    fortunately, declaring bankruptcy to get out of student loans, I believe, has become a lot harder
    It was always hard...at least in my recent memory. Maybe it was easy in the 70s or something.

    Of course, there are ways around it - if you know the loopholes.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by TurtleDude View Post
    fortunately, declaring bankruptcy to get out of student loans, I believe, has become a lot harder
    Yes, this guy was only doing it so he could put more toward his loans versus his mortgage. I don't understand why these stupid kids borrow all that damn money, well I do, they have stupid parents that tell them it is ok.

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    Re: Should taxpayer money be used to pay for student loans?

    In truth, they need to make it harder to borrow money for school. They're doing better, but it still needs to be much more difficult. This way we don't have liberal arts majors asking me if I want to super-size my Big Mac meal.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Rocketman View Post
    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.
    Is this a poll? where are the options?
    "God Bless Our Troops in Harms Way."

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