Reply to any cons in suspended student loans debt?

Forum Index » Political Discussion

Reply to "any cons in suspended student loans debt? "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A few things would help the situation now and in the future. Immediately. All interest rates need to be lowered to a manageable level. One of my friends has a 20% interest rate. If that was lowered to even five or 8% that would be helpful. I got mine repaid back when they were all 2%. 
Next we need to put a cap on college fees and the amount that can be borrowed. Say no more than 10% over an annual tuition cost at that specific college. I have a friend who took out thousands more each semester and now is struggling to pay it back because she didn't understand what she was doing at the time. 
Which brings me to third. There needs to be financial education in all high schools and the first year of college talking about interest rates and exactly how to pay back college loans and refinancing options. [/quote]

This became a "crisis" during Obama's term when the federal government took over student loans. 
https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/

Prior to this horrible legislation, the interest rates on loans were much more competitive.  
So, you can thank Obama.  [/quote]

Competitive- you mean you could get denied. [/quote]

Competitive with what? The loans I took out under the Bush years were 8.5%, for what was basically a risk free investment. [/quote]

You mean "risk free" for whom? For the lender, there's nothing to repossess and sell. You take a loan, you get your degree. A bank can't take that from you. So they're out the money. Lots of risk. And for the borrower the risk is you trash your credit if you don't pay, delaying all the adulting you hope to do. So please explain how it's a risk free investment.[/quote]

The “risk free” investment is that it was a non-dischargeable debt.  It was secured by my *life*, plus that of my co-signer’s. There isn’t any other debt like that out there.  People who have been rendered 100% disabled have been unable to get the things discharged.  Meanwhile, Don the Con rips people off and walks away. [/quote]
Among the student debt that Biden has  already eliminated is for disabled borrowers. https://amp.theguardian.com/money/2021/aug/19/us-biden-student-loan-debt-severe-disabilities
[/quote]

It’s a good start. Sadly, it can still take years to even get approved for SS disability. If you’re not a vegetable, your initial application is always going to get rejected. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics