It is no coincidence that we are seeing a steady stream of bad luck student loan stories.
Loan amnesty will incrementally be introduced.
Student loans need to be dischargeable in bankruptcy (again).
Do that, and lenders will stop paying for degrees that aren’t likely to produce a paycheck.
That, in turn, will cut the cost of college to something closer to a level that can be “pay as you go”.
As a father that has lost a son, I can only say that I am heartbroken for this man. That being said: he took on the responsibility of his sons debt the day he cosigned for the loan. This is why I would never cosign for anyone, even my child, without having a life insurance policy on that person with me as the beneficiary.
I also blame all lending institutions that do not tell borrowers about this.
“Loan amnesty will incrementally be introduced.”
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Of course it will, itf it is not already well underway.
I guarantee there will be a racist component to it as well, in the guise of income gradations.
I also guarntee that weak, cowardly Republicans, in the name of “compassionate conservatism’, will be fully on board.
It is no coincidence, exactly, that these sob stories are being released daily. Get the hankies. We the Taxpayers are being asked to FUND these colleges that are teaching our kids that LGBT is fine. WE are the ones folks should be mourning for. (Not that Berklee SoM is teaching that, mind you.)
“Amnesty” only means someone else picks up the tab.