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How do I effectively utilize my special ed ea?
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Rising Star
100% fair, just like anyone else with debits, mortgages car loans, cc bills, etc etc. You took on debt, you pay it, or it goes to collections. How is it fair to everyone else who pays/paid their loans/debts if it doesn't? I sure as hell don't want a single dollar of my taxes anywhere near this
Rising Star
OP asked if it was fair that ppl were held responsible for their loans, not what's our take on the entire system. Deep breaths you'll be OK. No one asked about bank bailouts. I would also have said the same thing they should fail if they fail.
Sure, paying back the money that one actually borrowed is fair, but charging 7, 8, and as high as 9% interest on the amount borrowed is usurious BS. Federal government should lower interest rates to 0 and only charge actual administration costs on all student loan debts. Getting an education is not like buying a house or car or incurring credit card charges for frivolous discretionary spending. An education is required to succeed in this society, and an educated society benefits this country. Government should not be charging 9% - it’s really unfair to those not born into privilege. Onerous interest charged on student loans is designed to keep down a permanent undereducated underclass of Americans who choose not to get an education because the cost is prohibitive. It’s not a fair system and it’s harmful to our nation’s future.
No is not fair when taking into consideration farmers bailouts, car industry bailouts, ppp forgiveness, AIG, homeowners assistance (free money) during 08, airlines after 9/11, the s&l crisis.... I'm sure there's others
So we give more handouts, and then other industries complain because they haven't received their handout yet. And we ultimately end up where either (a) everyone has a handout so we're back to square one with everyone on a level playing field (ignoring some handouts are bigger than others), or (b) you end up with a situation like we're in now where government (which is a group of imperfect people, no matter what site of the aisle they are on) thinking they know best what handouts are the "right" handouts to be giving out - and whomever they are at any given time or whatever handouts/aid/etc. they give out, large groups of people won't be happy with it and claim its unfair.
Yes - it's fair
Yes it’s fair. Maybe it will finally force people to consider whether it’s worth the money to go to college. For many people, it’s not.
People here are ignoring the fact that you are usually 18 when signing onto college loans, and you are being told that it’s absolutely necessary and you will find a great job afterwards (a promise made by politicians, parents, teachers, media, etc). Now people are feeling the pain of a betrayal, that the value of their labor does not significantly exceed the cost of their degree. Politicians bail out millionaires and billionaires all the time. What we’re talking about is class warfare - the current administration wants to “own the libs” and they are well aware that people with college degrees are more likely to be liberal
No one told me it was absolutely necessary
Totally fair, unfortunately. I wish it wasn’t the case, but that’s a whole separate conversation.
Honestly, we have failed our children
Rising Star
By this logic, why should ppl pay their mortgages? A home is a more fundamental need.
You don’t get it. At all. Let me know if it needs explained to you, since I like your analogy but you’re missing the point.
It is fair as it is the responsibility of the person who took out the loan to pay it back. This coming from someone who is going to be financially struggling because of this, but I took out those loans for school, I did take advantage of the pause, but the only person I can blame for having them to pay them back is myself.
It’s refreshing (and rare) to see people take personal responsibility these days. Cheers to you 🍻
Definitely fair. What’s not fair is the cost of education which only goes up. The ROI needs to be considered before taking on debt of any kind.
The billionaire investors want their money and they'll get it one way or another.
Nowhere in here did I mention anything about being forced. But let's not pretend there's not a reason this is among the few debts you can't get away from even in bankruptcy.
1st if all, if the interest rates were 1% or less and you actually saw the balance decrease, people would be inspired to pay.
2nd-if they go to collections, does the interet accrual stop? If so, this could be a good thing.
I would assume the still accrue and have penalties on top. Collectors add a lot in case they have to settle for pennies on the dollar. Student loan debt can not be cleared in bankruptcy so it will follow you in some form destroying your credit if you default
Well, that’s what happens when you borrow money and then you can’t pay. It’s a contract.
Booz this man