Student loan refinance

[amassi]

Can I borrow a few thousand? Promise to pay it back

Do you plan on defaulting on all of your loans since the gov gave away a couple billion dollars?
Much larger freebies have been handed out to banks, mic, auto industry, corn, dairy, citrus, pork etc.

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[IdahoElk]

This isn’t happening just before midterms to buy votes now is it?

 

[CoStick]

Student loans are unique, no qualifications needed and no ability to discharge the debt. Curious why businesses or personal loans don’t have similar circumstances.

 

[Poser]

We just had a fight with hr over this. We've expanded our department and have some new vacancies that are perfect for new grads with no experience, every aspect of the role will be thoroughly trained and supervised, hr posted the job with the degree(bs/ba) and 2+ years experience as a requisite. We lobbied for an associate degree preferred but not required and they're fighting us tooth and nail.
Predictably noone has applied so far.

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HR departments across the board bare a decent amount of responsibility for this entire predicament. They’ve been overinflating qualifications for years/decades. It is as if they, in their often meager roles at companies, want to play gatekeeper.

 

[S.Clancy]

What does you paying for 2 degrees have to do with this relief program?
I've paid back business loans before the gov did sweeping ppp loan forgiveness and didn't feel slighted by that in the least.

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I think we can agree to disagree on some things. You are likely a better person than me to not feel slighted.

 

[S.Clancy]

What does you paying for 2 degrees have to do with this relief program?
I've paid back business loans before the gov did sweeping ppp loan forgiveness and didn't feel slighted by that in the least.

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And PPP loans were a much bigger joke than this. The fraud rate is ridiculous.

 

[amassi]

And PPP loans were a much bigger joke than this. The fraud rate is ridiculous.

Agreed as are the things I posted. But I don't remember the group outrage over any of those programs.

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[11boo]

This isn’t happening just before midterms to buy votes now is it?

Sad isn’t it?

 

[browning2480]

Agreed as are the things I posted. But I don't remember the group outrage over any of those programs.

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In my mind the difference is a program where you can apply for a loan, that if you do things correctly, could be forgiven.

Student Loans people chose to take them out on their own, knowing they had to be paid back just like any other loan. People should own their responsibility and pay back what they borrow. Simple as that.

If the government feels that student loans are so burdensome that they have to forgive them, then they should also stop giving them. Seems kind of silly that they will start this and then next year people go out and just borrow more money. Then what? Setting a precedent here that isn’t good.

 

[kayvon]

The fact that they want to forgive these loans because they're predatory and not reform the system tell you all you need to know, really

 

[amassi]

In my mind the difference is a program where you can apply for a loan, that if you do things correctly, could be forgiven.

Student Loans people chose to take them out on their own, knowing they had to be paid back just like any other loan. People should own their responsibility and pay back what they borrow. Simple as that.

If the government feels that student loans are so burdensome that they have to forgive them, then they should also stop giving them. Seems kind of silly that they will start this and then next year people go out and just borrow more money. Then what? Setting a precedent here that isn’t good.

There's existing programs for loan forgiveness- public service, disability et el.
Agreed the government has no business in giving out ed loans. Nor should private lenders be giving loans that are protected from discharge and bankruptcy.

This could be a step towards reorganization of our higher education system.
if it helps some borrowers get out frim under their debt than so better for it.
Like I said above- compared to other forms of government handouts 10k of student loans is a pittance.

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[amassi]

The fact that they want to forgive these loans because they're predatory and not reform the system tell you all you need to know, really

What makes you think they don't want to reform the education system?
If this forgiveness is met with this much push back what would a larger system reform look like?


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[Sam Colt]

It would be a better reward to give graduates who paid their loans off $10K FOR DOING THE RIGHT THING.

 

[amassi]

It would be a better reward to give graduates who paid their loans off $10K FOR DOING THE RIGHT THING.

Why

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[Gutshot007]

My guess is that this will never happen . Efforts and promises will be made before elections and then AFTER they will go to the supreme court and get denied on the basis that it's unconstitutional . "Hey guys thanks for the votes. Sorry we did our best . Blame the supreme court not us . We tried"

 

[Gutshot007]

Look up the video of Cyborg Nancy Pelosi stating that this would not pass the constitutional test

 

[11boo]

My guess is that this will never happen . Efforts and promises will be made before elections and then AFTER they will go to the supreme court and get denied on the basis that it's unconstitutional . "Hey guys thanks for the votes. Sorry we did our best . Blame the supreme court not us . We tried"

You gotta hope it gets stopped. Anybody who thinks this government should reward paid spring break trips is tripping. A lot of bad decisions were made with the loan money. A lot of good choices were made too, but those are likely the ones who have paid their own debts.

Our grandkids will be paying for this.

https://www.dailymail.co.uk/news/ar...lout-cost-U-S-1-TRILLION-new-model-shows.html

 

[CorbLand]

Student loans are unique, no qualifications needed and no ability to discharge the debt. Curious why businesses or personal loans don’t have similar circumstances.

I was always under the impression that with student loans the reason you cant walk away from them is there is really no tangible asset tied to it. Generally, a personal or business loan has some form of tangible asset that whoever provided the loan can take upon default. Really hard to take something from someone's brain.


I went to college and still have student debt. 10,000 would reduce my loan by about 70%. I really do think this is a terrible idea and don't think it will ever actually happen. I believe this is all talking points leading up to November. Give people some hope for some help or relief. Same with the "inflation reduction act." Its all smoke screens.

I think instead of this, we really need to look at a massive reform and societal beliefs. Like I said in a post above, why do we think people need to have a four year degree to be eligible for entry level jobs? Go look at the posting for entry level position, they will be listed that way and still require experience. The cost of education has outpaced inflation by nearly 1000% in the last 25-30 years. I remember starting college at ~3500 a semester and was paying about 4700 a semester my last semester. I took one year off of college and had to do 9 semesters instead of 8.

Personally, I think that student loans should be 0% interest until you graduate. Then your interest rate should start out around 2% and go up by 1% at select time intervals. This would encourage early pay off and reward those who are diligent.

EDIT TO ADD.
PPP loans are/were a joke and if anyone took half a second to look at them would see how easy it was to get them forgiven... The amount of fraud surrounding them is astronomical. I do not agree with forgiving students loans but if you are complaining about it and didnt say a peep about PPP loans, auto industry bail out or 2008 bail outs...you really dont have much room to talk.

 

[amassi]

You gotta hope it gets stopped. Anybody who thinks this government should reward paid spring break trips is tripping. A lot of bad decisions were made with the loan money. A lot of good choices were made too, but those are likely the ones who have paid their own debts.

Our grandkids will be paying for this.

https://www.dailymail.co.uk/news/ar...lout-cost-U-S-1-TRILLION-new-model-shows.html

What current government spending won't our grandkids be paying for? That's sort of the whole point with paying taxes, paying into social security etc.

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[CoStick]

I was always under the impression that with student loans the reason you cant walk away from them is there is really no tangible asset tied to it. Generally, a personal or business loan has some form of tangible asset that whoever provided the loan can take upon default. Really hard to take something from someone's brain.


I went to college and still have student debt. 10,000 would reduce my loan by about 70%. I really do think this is a terrible idea and don't think it will ever actually happen. I believe this is all talking points leading up to November. Give people some hope for some help or relief. Same with the "inflation reduction act." Its all smoke screens.

I think instead of this, we really need to look at a massive reform and societal beliefs. Like I said in a post above, why do we think people need to have a four year degree to be eligible for entry level jobs? Go look at the posting for entry level position, they will be listed that way and still require experience. The cost of education has outpaced inflation by nearly 1000% in the last 25-30 years. I remember starting college at ~3500 a semester and was paying about 4700 a semester my last semester. I took one year off of college and had to do 9 semesters instead of 8.

Personally, I think that student loans should be 0% interest until you graduate. Then your interest rate should start out around 2% and go up by 1% at select time intervals. This would encourage early pay off and reward those who are diligent.

EDIT TO ADD.
PPP loans are/were a joke and if anyone took half a second to look at them would see how easy it was to get them forgiven... The amount of fraud surrounding them is astronomical. I do not agree with forgiving students loans but if you are complaining about it and didnt say a peep about PPP loans, auto industry bail out or 2008 bail outs...you really dont have much room to talk.

You can get unsecured lines of credit for sure that you can discharge, credit cards can be discharged, look how chapter 11 is used with business, you can totally walk away from obligations. Student loans are unique.