and the Democrats Ace in the Hole for when they desperately need to pull out an election.
My son will have his student loans paid off at the end of next year. He went into the marines for 4.5 years, then judo and UCLA. After he ran out of GI Bill (is it still called that?) most everything was student loan.
Next year at age 35 he’ll marry and probably buy a house. So his work is finally paying off.
You can’t discharge government, criminal, tax, lawsuit and many other debts in BK, either, IIRC. Also, I do believe that student loans have been unforgivable for some time now.
Wrong!
You cannot discharge a Tax Lien, for unpaid taxes, from the Feds either or the State of California.
I had student loans.
Silly me, I thought a promise to repay was a promise to repay for my degree in Business Administration.
Nowadays it is a promise to think about replaying and hoping OPM will pay for my useless “Womyn’s studies” degree.
When I entered college at age 18 I knew what I was getting into. I guess today’s generation are just too stupid to know the same?
Idiocracy, I guess.
I just paid mine off a couple years ago...about 15 years after graduation. I was not in a terrible rush - it was my lowest interest rate by far of any loan. I didn’t have a tremendous.
The Progressive agenda is to make you a servant of, and dependent on, the government.
I feel so sorry for these poor unfortunate deadbeats.
I just paid mine off a couple years ago...about 15 years after graduation. I was not in a terrible rush - it was my lowest interest rate by far of any loan. I didn’t have a tremendous amount of debt.
No one told them to take out loans in such huge amounts. Many people work their way through school and take as many classes as they can afford each semester. No sympathy from me.
Well, debts owed due to judgements on intentional torts aren’t dischargeable either.
Don’t ask how I know this.
Yep, that’s half of the mechanism for them being federally guaranteed (the other half being garnishment). That guarantee is what gives them the lower interest rate, and the complete lack of credit checking. If we make it so they can be discharged they’ll lose all that.
Wait until one of these idiot graduates discovers that 40 x $2,000 = $80,000 and that all he needs to do is to slowly open forty credit cards, charging $2,000.00 to each card, converting the items purchased into cash, use the money to pay off his student loans, and then declare bankruptcy.
2.) If they are allowed to be forgiven, watch the scores of 22 to 23 year olds who are suddenly bankrupt. This was a big problem before the reform.
To me the solution is simple, make the colleges or universities co sign the loans. Many have a big endowment, then see how many of the African/womyns/gender studies programs disappear.
DAMN RIGHT!!! now if they really want it to be discharged, i say give a full frontal lobotomy, otherwise, no deal...I sued a lawyer and he declared BK without disclosing to me. I did an exam on him and found that he paid his student debt off with a credit card THEN filed BK. He got away with it.
Wait a minute. No one put a gun to their heads to make them take out a student loan. Besides, there are scores of state colleges and universities with tuition rates that are not bank-busting.
These colleges price gouge like crazy and nobody says anything, but anytime we have a gas shortage and some middle of nowhere gas station raises it’s price a buck, there’s every politician from here to the moon holding press conferences protesting.