View Poll Results: Are high student loan interest rates a form of tax on the middle class?

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  • Yes

    13 46.43%
  • No

    13 46.43%
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Thread: Are high student loan interest rates a form of tax on the middle class?

  1. #221
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by tres borrachos View Post
    You wandered into the wrong section. We have a Conspiracy Theory section meant just for posts such as this one.
    You have wandered into discussion that is beyond shallow insults.

  2. #222
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    EMNofSeattle's Avatar
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Ironfist View Post
    That conspiracy dog is a desperate attempt that will not hunt. The rates are too high when we consider that the government is not a private lender, and has resources at its disposal that far exceed those of private lenders.
    Desperate about what? I'm not desperate, I am fine with the status quo, it's no skin off of my teeth, you must be the desperate one because in reality, no one cares about your opinion on interest rates. Any rational person understands 6% to be a bargain. I really don't mind the government profit on it either, they might as well make money on something
    Quote Originally Posted by Dr. Chuckles View Post
    No one cares about your stupid hippy logic
    "Be careful of averages, the average person has one breast and one testicle"
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  3. #223
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by EMNofSeattle View Post
    Desperate about what? I'm not desperate
    I think you are protesting too much.

    Quote Originally Posted by EMNofSeattle View Post
    no one cares about your opinion on interest rates.
    Another ridiculous post, for it appears that you do indeed care about my opinion.

  4. #224
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Ironfist View Post
    The government is not a private entity and it is good they are making the loans. What is not good is that they are trying to charge interest rates that are unnecessarily high. Because the government has resources at it disposal that far exceed the capabilities of private lenders, it can provide rates much lower than what private lenders are reasonably capable of. That is good because the government can thus facilitate the educational needs of citizens, while at the same time lowering their debt burden. The less debt that students have when they graduate, the more they can spend on consumption in the private sector which stimulates the economy.

    what happens with the loans that default....and are never repaid?

    who pays for those?

    just another line item on the budget?

    the rate is at 6% because not every student pays them back

    again....20+ pages of bitching that 6% rates are too high is about as much as i can take

    thank god your precious little daughter didnt have to get a loan in the early eighties!!
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

  5. #225
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by gdgyva View Post
    what happens with the loans that default....and are never repaid?
    The recovery rate on the loans is an astounding 90 percent.

  6. #226
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Ironfist View Post
    The recovery rate on the loans is an astounding 90 percent.
    Which still means that only about $9 of principle is recovered for every $10 lent. What interest rate would then be required to simply break even?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  7. #227
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by ttwtt78640 View Post
    Which still means that only about $9 of principle is recovered for every $10 lent. What interest rate would then be required to simply break even?
    A couple of points:

    1. It is a very remarkable rate of recovery when compared to the auto industry recovery rate of 40 to 60 percent. And those comparatively low rates are considered good. This is because of the harsh punishment that is imposed in case of default on student loans.

    2. You have simply ignored that all of the loans do not default. If I recall correctly, 86 percent of them do not default at all.

  8. #228
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Ironfist View Post
    A couple of points:

    1. It is a very remarkable rate of recovery when compared to the auto industry recovery rate of 40 to 60 percent. And those comparatively low rates are considered good. This is because of the harsh punishment that is imposed in case of default on student loans.

    2. You have simply ignored that all of the loans do not default. If I recall correctly, 86 percent of them do not default at all.
    https://us.spindices.com/indices/spe...-default-index

    Auto loan default rate of 1.06% for calendar 2015.
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  9. #229
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    https://us.spindices.com/indices/spe...-default-index

    Auto loan default rate of 1.06% for calendar 2015.
    Fair enough. However the recovery rate is much lower for loans that do default. And again, those recovery rates are 90 percent and above. For some types of loans they are 95 percent, at least in one recent year.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by ttwtt78640 View Post
    Which still means that only about $9 of principle is recovered for every $10 lent. What interest rate would then be required to simply break even?
    Actually I looked at those statistics again. You are wrong, the interest is included.

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