| Author |
Topic:
Student Loan Bubble [Locked] |
-Espiritu-  Posts: 269
Registered: 2004-11-29 18:27:00
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
$1 Trillion in outstanding loans
$270 Billion outstanding that are 30+ days late more (Fitch)
Since these loans are financed primarilly by the US taxpayer, there is no institution to bailout for lending to people unqualified to repay. I wouldn't be surprised if President Obama announces some relief/forgiveness program early in his second term.
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Espiritu - SWTOR (retired)
Espiritu (MajorMUD, UO, DAoC, SB, FFXI, WoW, WAR, Travian, SC2, SWTOR)
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Ashmaele  Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
There are already forgiveness programs in place. Student loan default is pretty far down on the list of things to worry about.
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-Espiritu- Posts: 269
Registered: 2004-11-29 18:27:00
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Ashmaele posted:
There are already forgiveness programs in place. Student loan default is pretty far down on the list of things to worry about.
The new normal = a $1 trillion taxpayer liability, that is showing serious signs of distress, isn't really a big deal.
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Espiritu - SWTOR (retired)
Espiritu (MajorMUD, UO, DAoC, SB, FFXI, WoW, WAR, Travian, SC2, SWTOR)
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Tych2 Title: Obama Appointed Outpost Czar
Posts: 2,511
Registered: 2005-3-1 06:56:47
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
-Espiritu- posted:
I wouldn't be surprised if President Obama announces some relief/forgiveness program early in his second term.
I hope not for another six to eight years.
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Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Ashmaele posted:
There are already forgiveness programs in place. Student loan default is pretty far down on the list of things to worry about.
Explain them and back that up.
Everything I've come across say there's no way to discharge most of the private loans excepting death. And, any "forgiveness" is usually just "partial deferment" which renders you a debt slave for life.
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In the immortal words of Socrates - "I drank what?"
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ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
I don't think any relief will be incoming. Students don't have nearly as powerful of a lobby as the megabanks do.
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Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
I don't think there's much relief coming, except SOME for the institutions who will be asked to take losses in the form of deferments. (And even at that, there won't be much relief).
Why? We don't HAVE much relief left to give and we're indebted out the ass -- both publicly and privately. Simple as that.
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In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
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ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
I don't think there's much relief coming, except SOME for the institutions who will be asked to take losses in the form of deferments. (And even at that, there won't be much relief).
Why? We don't HAVE much relief left to give and we're indebted out the ass -- both publicly and privately. Simple as that.
But 700 Bn for banks and auto manufacturers is A-OKAY!
Of course there's money to loan. Even you're not that dense. It doesn't mean loaning it is the wise thing to do, but goverment overstepped the boundaries of wisdom long ago.
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"Take the cheese to sickbay!"
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Cawlin Posts: 1,759
Registered: 2005-2-22 07:58:42
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
ZigmundZag posted:
Abaddon_Ambrosius posted:
I don't think there's much relief coming, except SOME for the institutions who will be asked to take losses in the form of deferments. (And even at that, there won't be much relief).
Why? We don't HAVE much relief left to give and we're indebted out the ass -- both publicly and privately. Simple as that.
But 700 Bn for banks and auto manufacturers is A-OKAY!
Of course there's money to loan. Even you're not that dense. It doesn't mean loaning it is the wise thing to do, but goverment overstepped the boundaries of wisdom long ago.
So might as well throw some good money after bad right?
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Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
ZigmundZag posted:
But 700 Bn for banks and auto manufacturers is A-OKAY!
Yeah. That's exactly what I'm saying. Or have ever said. 
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In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
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