Posted on 07/06/2014 11:33:09 AM PDT by Steelfish
Student Loan Forgiveness May Be Coming In The Future Sharon Epperson CNBC.com
For many members of the class of 2014 who borrowed money to attend college, the clock is ticking on what is likely to be their biggest expense after graduation.
They'll have to start paying back their federal student loans in November or December—as the six-month grace period that lenders give new grads comes to an end. But depending on their income—or lack of income, if they're still looking for work—some borrowers may be eligible for much lower payments than they'd anticipated.
And eventually they could have their federal loans forgiven altogether.
(Excerpt) Read more at cnbc.com ...
How many billions and billions more debt does this country think it can afford?
“And eventually they could have their federal loans forgiven altogether.”
Mark my words, the complete forgiveness of federal student loans will never happen. The Democrats will use the plight of these debt-slaves for political advantage over and over again, most likely through absurd debt-reduction proposals that they know Republicans will reject, making for primo ad-copy.
If the loans are completely forgiven these young people might be able to save their own money, start families, buy property and next thing you know they’ll be voting to preserve the wealth they’ve earned as opposed to voting to have wealth seized from others.
Trillion is the new billion. And when you’re 20 trillion in debt, and on your grandchildren’s credit card, “what difference does it make?” The left believes deficits are meaningless.
Cochran buying votes for $15 each in Mississippi is cheap by comparison. Those folk in MS should have held out for $15,000 to $20,000 for their votes.
Why not? People run up VISA and MasterCard to the limit with vacations, restaurants and luxury goods. Then they get to declare bankruptcy and start all over again. The suckers appear to be those who actually pay down their credit card bills.
Cochran buying votes for $15 each in Mississippi is cheap by comparison. Those folk in MS should have held out for $15,000 to $20,000 for their votes.
As long as low info voters believe this money comes from the all-rich gov't it won't matter.
It will be forgiven for the “right” people.
What's not to like?
That’s why former students are not paying their loan off. Obama keeps dangling the offer of forgiveness. Self fulfilling prophesy.
So a whole swath of freeloading people end up with (a) a college education, (b) paid for by the poor schlubs who had to work (taxpayers) who could not “afford” (they thought) to attend college, and (c) a new wave of resentment develops.
Annnnnnnd what about those that paid their obligation off without issue? S.O.L. huh?
Don't worry, its all printed anyway, so there's lots more where that came from.
They may have college educations but getting a job in their area of expertise is another thing. Know two who haven’t even had an interview. Just no job out there in their area. Working part time none career jobs
They may have college educations but getting a job in their area of expertise is another thing. Know two who haven’t even had an interview. Just no job out there in their area. Working part time none career jobs
The universities do nothing to lower cost, they do get government grants, they do raise tuition then government increases the amount that can be borrowed on student loans, universities promote socialism, big government, etc. REPEAT, again and again
My reward for paying off my student loans early....
The ability to discharge ones debts in bankruptcy is what got us away from the debtors prisons and permanent ruin not so long ago.
Allowing, after a reasonable period of time, a person to seek bankruptcy protection, which is itself a discharge of debt, is not wrong it is in fact a good idea.
The fiscal problem is “how much can we afford”. That question is a good one. The question is why are we guarenteeing personal debt to lenders as a nation in the first place. And furthermore why are we doing so on degree’s that will have no ability to earn enough $$ to pay them back in the first place.
Nothing will halt the rise in education costs as fast as putting the brakes on lending. The schools will raise prices as high as the kids can borrow, and the rub is you do need a good education to succeed. So the kids are like lambs to the slaughter.
Stop insuring debt as a nation.
Stop preventing the same bankruptcy protections as the rest of debt is afforded.
Money laundering with an engine of socialism as a bonus.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.