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Thread: Sanders to propose canceling entire $1.6 trillion in US student loan debt

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by JasperL View Post
    If you're a big real estate developer, that happens pretty routinely in the bankruptcy process. Student loans are generally non-dischargeable in bankruptcy.



    It's always good when people admit their contempt for our form of government, and long for an aristocracy/plutocracy.
    Yeah, I think student loans should be dischargeable in bankruptcy, but you know what that would mean? Most student loans would then never be written. You’d have to show the lender you have assets or a co-signer, or credit history, or that your degree would get you an income capable of repaying the loan.

    See you don’t really want loans dischargeable in bankruptcy, because then college financing would go down and then universities would have to restructure curriculums around marketable education and lay off liberal administrators

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by SLC View Post
    YOUR fundamental fallacy is that you don't realize that every dollar you earn is YOUR money. When we live in a civilized society we all realize the government needs some of OUR money to function. The government is not entitled to however much it wants. We are not the governments slaves. And college students are not entitled to a free ride on my earnings. I went to 4 years of College 2 years of Masters 4 years Medical School ALL at my personal expense. Nobody paid my way for me. So explain to me why I should pay for college for anyone other than my own children which I also paid for.
    A few points of correction. First, the Federal government has the Constitutional authority to levy as many taxes as it wants. So every dollar you earn and keep is at the discretion of the State. Second, anyone who receives federal student loans - which is the majority of college students - is receiving a ride at your expense as a taxpayer. You’re already paying for it. The only question is whether or not the government is reimbursed plus interest for those loans. You’ll never see that money again either way.

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Fletch View Post
    Allowing people to keep more of their own money is not a bribe.
    Sure it is, ESPECIALLY when it's not paid for with spending cuts, because there's no trade-off made.

    How about this. Which one of these do you prefer:

    1) I (government) write you a check for $1,000
    2) I pay off a debt you owe of $1,000

    They're identical in economic impact on the government and the taxpayer/citizens. So why is reducing a debt not a bribe, but cutting a check of the same amount a bribe, when the economic impact on everyone is the same?

    The answer is one goes to rich people who have a lot of power, and the other goes to poor people who don't have power, and we excuse/justify/rationalize the former and find ways to condemn the latter, because of who has power and who our government answers to. It's really that simple.

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Godric1970 View Post
    what's another $1.6 trillion on top of $22.4 Trillion debt
    ... and what about future college debt?
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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    The best test for any serious candidate in my opinion is how wiling they are to the idea of government getting out of student loans completely. Wanna see tuitions stop rising, eliminate government guarantees.

    In fact, I can't think of a single business that would not benefit from a guaranteed system by which, regardless of performance, they still get paid. Can anyone name a single business that would not benefit from this system?

    It was a dumb idea then, and still is now, the difference is that we've have several decades to prove it, not that we needed too, any idiot could have seen this coming with barely any modicum of economic grey matter.

    Problem for candidates running for office is that, American's by and large like the idea of federally backed student loans. Ignorance at it's root, and I liken it to the same situation going on with private mortgage insurance. Most people don't understand that the insurance isn't for them, even though they pay for it, the insurance is for the bank in case you default, THEY still get paid, AND, can make a profit on top of it.. LOL


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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Common Sense 1 View Post
    The democratic party! Collusion Delusion and Free stuff.......

    That's what they are running on in 2020!
    You would serve yourself better to wake up.... ( face truth for at least once in your life, it might open your mind)
    Republican chase more "free stuff" and have a delusion that they are entitled to it, for being white skin, republicans... so stop the B.S.!!! and wake up... you have wasted more than half your life spinning in ignorance and spewing stupidity.... and the sad part is... being to insidious to even know the difference.

    "common sense" ... is relative to people's knowledge base and their emotional content of mentality.... relying it as such is why people spin in cycles of "insanity" and can't figure out how to move beyond it. It's like a self justifying cycle of ignorance... because the knowlege base is so extremely limited, and the emotions of bias and bigotry, won't allow room to grow and learn
    Last edited by RealityNow; 06-24-19 at 12:27 PM.

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    What we need is a high quality very cheap or free on line government University so students could get a QUALITY cheap or free education . No matter where they lived. They could work and take on line on their off time. We could make it so if you received an A the course is free if you make a B the course is 75% free a C 50% a D you pay the full cost.
    The courses would have to be challenging but fair. The government would require colleges to recognize courses completed at the government on line University for transfer purposes if those colleges receive government funds.

    If a student wanted to graduate from the University of Texas with an Engineering degree they could go to years on line then transfer to UT and complete their education providing they had the correct courses and grades to enter UT. Of course they would have to pay tuition at UT. But in the on line government University they could pay nothing.

    Colleges would have to compete for students and would not be as free to raise tuitions.
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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Godric1970 View Post
    what's another $1.6 trillion on top of $22.4 Trillion debt
    That is a misconception. The money is already spent when the loans are issued. Forgiving the loans doesn’t result in any additional debt.

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Mason66 View Post
    I would love it if somebody eliminated my debt or cut it in half.

    Why is a student loan special and other voluntary debt is not?
    For the same reason we make K-12 free. An education is the backbone of being able to fully participate in this economy, and the principle is government should fund the education necessary to succeed. That used to be K-12, and now it's generally more than that. Part of that "equal opportunity" thing, as opposed to "the best jobs are only available to the kids of middle class and above!" thing.

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    Re: Sanders to propose canceling entire $1.6 trillion in US student loan debt

    Quote Originally Posted by Mason66 View Post
    I might be OK with changing the law to allow student debt to be written off in a bankruptcy, but the people that can pay it off should.
    That's the part that kills me, actually. Plus, there's just a lot of abuse, especially with for-profit schools, that rope kids into getting into non-dischargeable debt, which relieves the schools of the incentive of providing an education that would allow them TO pay off that debt. The incentive is "Get the money" and then if they get a good job, fine, if not, well, they still have to repay the debt!

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