This is a reasonable rollback considering their are options open for people to avoid default. It upsets me and I would caution all those fake conservatives who want to bring back debtors prison.
Banks and colleges promise the world and offer cheap money that they obtain from a printing press. Then they then offer it as government debt to avoid bankruptcy law protections.
Claiming the 18 to 20 year old who accepted the dealer on the corner’s goods totally responsible displays a lack of understanding of the situation.
There is a constant push for students to acquire student debt. Student debt affects your credit and if you will eventually be able to purchase a home.
We just saw a situation with the housing bubble when bankers and property assessors over inflated the real value of homes. But who received the blame from fake conservatives.
Was it the banks who made millions churning properties or the people who were left holding a property worth half the value.
It was the people that were blamed. The homeowners, because they asked to own a home they couldn’t afford. Do your really believe that people went around borrowing money they thought would vanish in a years time.
And who received the bailout for all the cost. The banks of course from people, the tax payers. Be careful when you look down on your fellow citizen for the debt they have and place blame. You may just make your self a tool of the corporate elite who only have their self interest at heart.
My point is to look a the big picture the cause and effect in totality.
Luckily Trump is smart enough and sees through all this fake conservatism such as this targeting of students. This ability to see the big picture is what allowed him to build a large enough base to win the white house.
The problem started with schools seeing themselves as a business rather than as service organizations. They make no income per se but distribute their “sales” among their officers. The gov through its underwrite program became the facilitator. The students the consumer. Absent from this and very similar to the mortgage fiasco is the absence of value and the assignment of an ability to repay a debt. A “degree” is nothing but an intellectual property. so who is at fault? They all are. Since I am not part of the problem I do not wish to become the dupe who has to pay for it. She the schools for a failure to employ their fiduciary responsibility to ensure students got a product they could use. Keep the borrowers on the hook for their debts. Keep the gov out of the mix.
The people who entered into agreements they couldn’t afford are to blame. PERSONAL RESPONSIBILITY will never exist again in this country until we are once again held responsible for our actions. ENOUGH of constant excuses for those who get themselves into trouble because their eyes are bigger than their stomachs! They must learn that somebody else is NOT going to pay for it. Socialism-Communism is rife in this country. Time to flush it all out and learn to live within one’s means.