Reply to I owe $125,000 in private student loans to one institution. How to get them to settle?

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Reply to "I owe $125,000 in private student loans to one institution. How to get them to settle?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Which of our politicians allowed this crime? They should be named.[/quote]

Why is it a politician's responsibility, or really anyone else's responsibility, that a person takes out hundreds of thousands of student loans when they are fully aware that their career choice will never have a salary that can pay off these loans?

Life is all about choices, and there is no shame about going to a state school if that is all you can afford or if the tuition there is the maximum that your degree of choice can support.[/quote]

One could make the precise same point about people who took out mortgages that they could not afford. And yet, besides foreclosures and short sales, there are all kinds of programs to enable preferential refis and other mechanisms for dealing with the fallout of the subprime crisis.[b] Why is it OK to relieve an otherwise responsible person of some irresponsible housing debt, but not okay to relieve an otherwise responsible person of some irresponsible educational debt[/b]?

And don't kid yourself, the financial industry has done well from student loans, and has lobbied hard to prevent changes to the system.[/quote]

Those programs were not okay either.  There were far more people who got those same loans but who scraped, saved, and went without to make their house payments than those who got cut a deal.  I am sure those people who were making their payments deserved a break far more than those who didn't.

I was against those programs.  You borrow the money; you repay it.[/quote]

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