How do people become this kind of parasite?

[SFGbob]

I can understand someone thinking this when they're young, it's wrong but understandable, but for a full grown adult to believe this, and then have that adult be a member of Congress is beyond my capacity to process.
http://twitter.com/PramilaJayapal/status/1475671599038836737

 

[Bob_C]

Just erase the debt!

I wonder if Pramila could explain the basic accounting of that write off on the balance sheet, p&l and cash flows.

 

[DerekJohnson]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

 

[RaceBannon]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

Ask Joe Biden

He wrote the legislation

Thats the joke

 

[Bob_C]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

She doesn’t complete her thought as usual, either deliberately or stupidly. Government backing the loans and individuals being tied to the loans forever keeps the interest rates artificially way low and this raised the cost in general as a result. Same shit with housing, but at least there’s an asset there to grab. There is no accounting scenario where debt just goes away without someone holding the bag. Beauty of the double entry system that Race helped invent.

There’s no good solution here aside from raiding or taxing the endowments that have clearly benefited from this scam.

 

[RoadDawg55]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

 

[Doogles]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

Handing out Federal loans like candy to 18 year olds who just want to party justifies the tuition hikes that keep the universities belly's full.

They use the Kobe's like a slush fund.

 

[SFGbob]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

They can get that loan because the Federal government backs those loans. Remove the Federal guarantee and you won't have banks making those loans.

 

[PurpleThrobber]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

The left is all in with Big Banks, Big Pharma, Big Tech and Big Universities.

 

[Sledog]

So everyone's saying it's the same scheme as giving people home loans that can't pay them and wondering why foreclosures skyrocket?

 

[Bendintheriver]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

They can get that loan because the Federal government backs those loans. Remove the Federal guarantee and you won't have banks making those loans.

Exactly.

 

[BleachedAnusDawg]

There are a lot of kids in America going to college who should not be and are wasting 4+ years of income production on top of going in to debt. You don't need a college degree to make $50k a year. After expenses for school, that's potentially a $400,0000 swing in dollars for someone who goes to college to end up working as an executive assistant.

 

[Bob_C]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

Big banks are just processors for this stuff. They aren’t angels, but your anger is misplaced on this issue. Curious who the people are here that you are referring to. The 43m with loans or the 290m without loans? Who should we be protecting here?

 

[WestlinnDuck]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

The theory is that almost all students graduating with a significant amount of debt are bankrupt and the first thing they would do is file - which is a pretty safe assumption. The actual market solution is to get the feds out of student lending and let the market work. Banks would only lend to students which showed they could and would pay the debt back. If the bank wants to lend a $100,000 of shareholder money to a gender studies student, let them. If the student then qualifies, let them file for bankruptcy. Colleges would also be free to lend money to the students they are grifting.

 

[RoadTrip]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?

 

[RoadTrip]

The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?

The theory is that almost all students graduating with a significant amount of debt are bankrupt and the first thing they would do is file - which is a pretty safe assumption. The actual market solution is to get the feds out of student lending and let the market work. Banks would only lend to students which showed they could and would pay the debt back. If the bank wants to lend a $100,000 of shareholder money to a gender studies student, let them. If the student then qualifies, let them file for bankruptcy. Colleges would also be free to lend money to the students they are grifting.

I love this idea. It would also mean a lot of people would stop needlessly attending college. A college education has significantly depreciated over time. What happens to this value when the education becomes free? Students would learn far more about business or engineering in a 1 year apprenticeship or paid internship than 4-5 years of college.

 

[RoadDawg55]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?

Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?

 

[SFGbob]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?

Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?

Does the federal government back the $10 - 20K loan? The problem isn't "strange" at all. In one case the Feds guarantee the loan, there is no risk for the lender, in the case you cite there is no guarantee and the lender faces a risk. What part of this are you not understanding?

 

[MikeDamone]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

It’s a government problem. Period.

And by “we” you mean people who worked and paid for their education, or had family help, or didn’t go get a degree and started in the trades…we should any of the above be on the hook for somefucks loan to get a degree In Swahili?

And it’s not just 18 year olds. The number of people in their late 20s and 30s who have been “working in their degree” is a large number and these people tend to borrow and borrow.

On the same line of thinking, should the above listed group be on the hook for paying doctors, lawyers loans while these professional can make hundreds of thousands or millions a year?

 

[RoadTrip]

This is a topic where I lean left. I’m not going to cry for the universities and big banks.

An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.

The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.

But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?

Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?

Yes it is but I'd say the same if that kid didn't have the wherewithal to repay the $10K loan. It doesn't take much other than hard work to earn the ability to take out a $10K loan.