| Author |
Topic:
Student Loan Bubble [Locked] |
ZigmundZag  Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
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. 
No, you said there's no money left to loan, to which I provided an example to counter. Putting my reply in a context that made you look like an idiot is just an Outpost service most of us offer free of charge.
-----signature-----
"Take the cheese to sickbay!"
|
Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
No, I said there's not much left FOR BAILOUTS. Re-read Zig. You're going down a totally different road.
Touchy nerves on that topic, much?
-----signature-----
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
|
Ashmaele Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
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.
IIRC if you pay on them reliably for a certain # of years they get automatically discharged (I think 25 years but there is a push to have that number lowered). There are also other ways to get payments reduced or eliminated (public service, etc). Here's a link describing one of the programs, I'm pretty sure there are others: http://studentaid.ed.gov/PORTALSWebApp/students/english/PSF.jsp
You are correct that they cannot be discharged through bankruptcy, though.
I know a guy who defaulted on his loans. He finally got back on track after getting a new job but it was an ugly couple of years for him. He basically had his entire income tax refund confiscated by the gubmint. They'll get their money!
-----signature-----
I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up.
|
Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
Why? We don't HAVE much relief left to give and we're indebted out the ass -- both publicly and privately. Simple as that.
-----signature-----
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
|
Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
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.
Only idiots take out private loans, and private loans make up a very small % of that trillion. IBR will let you scale your payments to your income and end up forgiving your federal loans after 25 years of those income-scaled payments.
|
ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Abaddon_Ambrosius posted:
No, I said there's not much left FOR BAILOUTS. Re-read Zig. You're going down a totally different road.
Touchy nerves on that topic, much?
Umm, don't bailouts usually come in the form of...oh what do you call it when you give somebody some money and you ask them to pay you back later?
-----signature-----
"Take the cheese to sickbay!"
|
Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
ZigmundZag posted:
<missing the point>
Re-read what I said, what I said about the form of bail-outs presumed, etc.
I'm not going to re-type across 6 posts as you string out your mistake in reading trying to save face.
-----signature-----
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
|
theredkay1  Posts: 611
Registered: 2008-5-16 10:37:09
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
|
Seems like the easy solution is to just change the law so that student loan debts can be negotiated in bankruptcy. Maybe put in some kind of minimum time hurdle to get over the moral hazard problems....like you have to be paying it back for X years before you can discharge it.
The current setup is bonkers.
- or if you want to keep the current setup, rates need to reflect that and be set at something just above the Fed funds rate.
|
Hammerhand21  Title: That's what she said
Posts: 147
Registered: 2002-2-26 14:28:29
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
I literally just got done paying off my student loans a few months ago. I was reading about this and was getting mad.
-----signature-----
DAoC, WAR, WoW, AoC, L2, Allods, Aion, LotRo, SC2, Darkfall, Global Agenda, RIFT, WoT, BF3, Skyrim
WAR Video - Filefront http://tinyurl.com/bhtytb Youtube - http://tinyurl.com/34epmh8
Old DAoC Hero Vid - http://tinyurl.com/27to8zb |
ZigmundZag Title: Grammar Nazi
Posts: 1,211
Registered: 2002-3-25 23:03:00
|
Date Posted:
1/1/00 12:00am
Subject:
Student Loan Bubble |
Yukishiro1 posted:
Only idiots take out private loans, and private loans make up a very small % of that trillion.
20% is not small.
Quote:
Wikipedia posted:In June 2010, the amount of student loan debt held by Americans exceeded the amount of credit card debt held by Americans. At that time, student loan debt totaled at least $830 billion, of which approximately 80% was federal student loan debt and 20%was private student loan debt. In October 2011, the total amount of money owed in student loan debt was said to exceed $ 1 trillion.
-----signature-----
"Take the cheese to sickbay!"
|
|
