SCOTUS on Student Loan 9 - 0

[Anonymous]

I don't understand why Congress doesn't just make student loans again dischargeable in bankruptcy. I get that the historical precedent was that someone graduated on Sunday and filed for bankruptcy on Monday with no assets before starting in their lucrative careers and we don't want people essentially screwing the Federal government. However, it seems we've gone too far in the other direction by having to prove "undue hardship". Why not just up the penalties for bankruptcy in terms of how long you can go before filing again or some other consequence? They still ruin their credit and make it difficult to sign a lease or do other things, but there should be some way to walk away from these debts even at a significant cost or hit to their credit ratings.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

Millennial here. Grow up, stop being a victim, make money and live well.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:But at least those unregulated PPP loans were forgiven, right guys? I'm so sick of living in this corrupt country. Heads you lose, tails you lose.

The PPP loans weren't loans, they were free money during a once-a-century nationwide epidemic. And fraud is being tracked and prosecuted.

I guess you would have preferred no PPP loans and businesses going bankrupt while people stayed home?

Lol. PPP fraud isn’t being tracked. There are literally thousands of scammers within 5 miles of my house.

The Amish did zero of the cdc recommendations and had 90 times fewer Covid deaths than the FauciTard general public. The government and public screwed the pooch and made every mistake possible .

.

The Amish also make their sons quit school at 13 so they can build barns and kitchen cabinets for suburbanites. They are a model culture at all. They are rife with genetic defects due to in breeding.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Woo hoo!

You are a nasty piece of work aren’t you.

Perhaps pp is one of the millions of people who chose NOT to go to college because she couldn't afford it and didn't want the burden of student loans. Now, she will not be burdened with helping to pay for the loans of others.

Give me a break. She has probably never helped anyone in her life. And yes, I’m sure she did go to college on Daddy’s dime and believes that only rich people like her should be allowed to get a college education. And she and her greedy husband probably gobbled up PPP loans too. Let everyone else eat cake, right? And you sound like a kindred spirit. Well, screw you both. You should be ashamed of celebrating millions of middle class people losing out on modest loan forgiveness while you sit on your thrones. Gross.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

Would you like to ban credit cards too?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Biden is really having a bad week

The SC made it clear that Biden is on the side of everyone struggling to repay student loan debt. Isn’t that good for him?

For people with loans. Everyone else is not happy with his giveaway, to people wealthier than them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

+1

People are paying it back and never getting out from underneath. That’s not right.

Just once I’d like to see something like, oh, the money Brett Favre stole and all the other people’s covid “loans” get paid back. With the same kind of interest that your average student had to take out.

Except here the loans were 'loans' just as you said. They were never intended to be paid back. I would like them to go after the fraud in these loans, probably a trillion dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

Of course you care. You can lose a job due to a pour credit rating and not get a new job other than at MacDonalds!

[Anonymous]

Why are progressives so obsessed with this issue? Just put this energy around gun laws or medical debt or childcare for all. Geese.

[Anonymous]

Anonymous wrote:I don't think that forgiving student loans is the best policy idea for several reasons - but I think the power is clearly provided in the HEROES Act. Just as the EPA has the power to regulate wetlands as specified in the Clean Water Act.

Not a fan of the Supreme Court overruling the plain language of legislation just because.

They didn't rule the EPA cannot regulate wetlands, just what constitutes wetlands under the Clean Water Act.
The HEROES act said the Secretary can 'waive' or 'modify', and the Supreme Court ruled this went beyond 'waive' or 'modify'.

It's been established before that Congress cannot just delegate lawmaking powers to the executive branch. It's why the line-item veto was thrown out, among other things.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

Good. It is time to join happy campers in San Francisco. I heard the weather is nice there. And please, refrain from having kids, and if you accidentally do, please abort them asap.

[Anonymous]

Here is what I have done my whole life: don’t pay my loan.

When I get a notice that my wages may be garnished, I set up a payment plan. I pay the least amount possible, usually around $120. I do that for 6 months to get in good standing. Once that happens I stop paying and repeat the process.

Not my fault the government was dumb enough to give an 18 yo $29k with no job or assets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I do loan financing. We won't finance an 18 year old without a co-signer for a car. Yet the same 18 year old can get accepted to a $40k/year college and get a loan for that without any issue.

GTFO.

Student loans are predatory. Period. People wouldn't be as averse to paying off the loans if they had zero interest or low interest. My wife is still paying for her $39k student loan that is now in the high $50k range.

What financial institution do you work for that doesn’t require a co-signer for a private student loan? 18-year old freshmen are capped at $5,500 in federal loans that they can borrow on their own. Over four years the max federal loan limit (with some exceptions) would be $27k.

Private student loans almost invariably require a parent or other credit-worthy co-signer, so your wife must have private loans. Those are a separate matter.

I think the point was that the government is giving out these big loans that a private institution would not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

Take your concerns up with Obama. That all started under his "genius" plan.

Interesting…. because I went to grad school when Bush was president so, I’m not sure what Obama started that impacts me here.

Did you take a private loan?

There was a small portion that was private and those were quickly paid off. The overwhelming majority of my loans were FFELP which if they were still intact would have been already removed from forgiveness last fall.

I’m just pointing out that this pay for what you owe bullsh*t argument ignored compounding annual interest that turned my loan into an 80% interest rate instead of 6.25% I signed on for.

It looks like you paid $200 a month for your $25k loan and are surprised by the total interest. Or perhaps you waited 4 years and then paid $300 a month for about 12 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Common damn sense. You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will. The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.

No, but but it is your fault for being so stupid you decided to take out a loan without understanding basic finance 101, interest, and loan amortization.

Imagine getting to adulthood and never spending 5 minutes learning the basic concept of loan amortization and compound interest while you've spent hours per week in crap like TikTok and Instagram.

Here's the world smallest violin playing for you: ____

+1. That poster’s head is going to explode when they go to close on their first house and realize that $400K house is going to cost 7 figures.

Are you serious? WE ARE NEVER GOING TO BE ABLE TO OWN A HOME, you fruitloop dingus!

That's what the younger generations in the US are telling you: we are NOT going to pay our student loans b/c we don't give a shit what happens. We don't make enough to fking care. We aren't having kids b/c we don't make enough. We aren't owning homes because we don't make enough. WE DON'T CARE.

lol. just wait for republicans to start garnishing your wages and really sticking it to you. you made poor decisions and deserve the outcomes.