Posted on 12/18/2023 12:22:23 PM PST by davikkm
In the United States, federal student loans are typically guaranteed by the government. This means that if a borrower defaults on their federal student loan, the government steps in to ensure that the lender (usually a private financial institution) does not face significant financial losses. The government either pays the loan in full or guarantees a portion of the outstanding balance.
However, this guarantee does not absolve private lenders from all risks. Private student loans, which are not guaranteed by the government, may pose a greater risk to lenders if borrowers default. In such cases, the lenders may face losses unless they have specific arrangements or insurance to mitigate the impact of defaults.
(Excerpt) Read more at citizenwatchreport.com ...
I think that anyone who doesn’t pay back their student loans should get an irrevocable black mark on their credit rating, period.
And if Obama makes them loan them the money because they’re black?
So... are the DemocRATS attempting, once again, to collapse the economy by bankrupting the banks? They already did that with the mortgage loan collapse they caused. Would anyone be surprised if they did it again? They have suffered no consequences AT ALL for their disastrous policies thus far. Why would they not keep destroying us from within. It’s not like they’re afraid anyone is going to try to stop them.
That’s how the banks went bust back in 2008....Barny Frank’s committee forcing banks to loan money to unqualified borrowers of a different persuasion. All those loans became worthless bundled Credit Derivatives and we got 4 years of additional worthless QE (1,2,3 and 4) Trillion Dollar budget increases.
In 2009 Obama placed student loans in the hands of the federal government. There’s nothing in the constitution for this, people voting do not think of the constitution therefore we have consequent such
I digress
The feds had the green light to pour money into colleges and universities unregulated. UNREGULATED
The colleges and universities took it. They had zero incentive to lower or maintain tuition rates. The administrations grew in personnel and in taking in money
In the middle were and are students 17 and 18 years old signing for this s show with their stoopid gullible parents allowing this takeover
Now people blame the kids
That’s worse in stoopidity
It’s the fed, Obama and most of all the multimillionaire deans who claim no responsibility
It is beyond nauseating
The banks are not us.
They are government masquerading as private enterprise.
They have enabled and assisted Democrats, fellow leftists around the globe fundamentally transform peaceful and prosperous into violence and scarcity.
But now you’ve got an out of control problem where these kids who were ripped off are unable to pay and of course it will come back on the working stiff taxpayers who re fff ing refuse to say stop to the corrupt congress and president allowing this
I paid about $2000 for an excellent science degree and an English degree combined
Now those are $45,000 per year each. That’s about $250,000
How dare anyone blame these kids who trust our system
I blame Obama for taking student loan industry into the federal f
Govt allowing the at fault colleges to rip off these kids
So kids souls get educated because Obama and his government took over and destroyed the now corrupt student loan system?
These kids need more help than that
With Biden offering the borrowers student loan forgiveness and student loan debt relief which maybe illegal, the borrowers may have just said screw the loan! So do the banks have a claim of Tortious interference?
souls=shouldnt
I paid for my BSEE with 8+ years in the military. My son paid for his with a Georgia Hope Scholarship. People need to understand that ‘borrowing’ money is just that. It doesn’t matter who it comes from, what it’s for or how much it is. It is a commitment, period. If you don’t pay it back your credit rating should reflect it.
I paid for my student loan with 8 years in the military. When I was in combat all my money went into the loan then I used the GI Bill.
So don’t pull that. Look at the numbers
Student loan rates are way above inflation way above any other entity and Obama had a hand in it
Biden’s socialism program only hurts those who work for a living.
Never trust a democrat
People pay out of pocket for public schools in taxes. Anyone on Long Island pays 10-30 thou per year. No questions with kids in or no kids in public school
When it comes to looking at how our kids are educated beyond high school people are stingy as hell blaming these kids for an out of control corrupt system
They need education. They need our guidance
And they can’t go into the military like we could because it’s becoming a farce
“The bank, Mr. Van Buren, is trying to kill me. But I will kill it.”
Andrew Jackson
“The banks are not us.
They are government masquerading as private enterprise.”
If Trump is elected President in 2024, he should aggressively enforce antitrust law. Any bank or corporation deemed by the government as “too big to fail” should be broken up. Any corporation with over 30% market share should be broken up.
Economies thrive when there is intensive competition. Innovation flourishes and prices for customers decline. Breaking up the big banks and multinational corporations will increase competition and encourage expansion of consumer choices in goods and services. It will also increase employment opportunities and more competition for the best employees.
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