Why forgive "student loans" and not all other loans? Why is Biden (democrats) so adamant about it?

[bripat9643]

My point was that you will pay exactly NOTHING extra if loans were forgiven… and you know it

That's a lie, of course.

 

[The5thHorseman]

What's different about a "student loan" over any other loan?

It can't be discharged in bankruptcy.

 

[bripat9643]

Post 362. Already done.

So what you meant was that no politicians were outraged.

 

[The5thHorseman]

So what you meant was that no politicians were outraged.

Do you EVER have anything insightful to offer, Bri?

 

[bripat9643]

Do you EVER have anything insightful to offer, Bri?

You mean you believe you do?

 

[Couchpotato]

It can't be discharged in bankruptcy.

Because that's the deal that was struck when the Fed Government got involved in handing out loans to students in the first place.

 

[bripat9643]

If you’re going to be intentionally stupid then I’m out. If you want to have an actual intelligent conversation about the subject let me know.

Playing stupid is on of the progs' favorite tactics.

 

[Lesh]

Because that's the deal that was struck when the Fed Government got involved in handing out loans to students in the first place.

They loan money at full rate to people who normally wouldn't qualify and the government guarantees that no default can occur.

Ya couldn't ask for a sweeter deal

 

[The5thHorseman]

You mean you believe you do?

I school you all the time, Bri.

You don't appear to retain much.


For example, have you ever cast a vote for a POTUS under whom deficits FELL?

 

[Couchpotato]

They loan money at full rate to people who normally wouldn't qualify and the government guarantees that no default can occur.

Ya couldn't ask for a sweeter deal

Hey Im all for the Government getting out of the money loaning business.

BTW you still avoiding the previous question about why the Government collects taxes?

 

[The5thHorseman]

Playing stupid is on of the progs' favorite tactics.

Bri,

It's your bread & butter.

 

[The5thHorseman]

Because that's the deal that was struck when the Fed Government got involved in handing out loans to students in the first place.

And?

 

[Couchpotato]

And?

And nothing. That was the deal and one that makes sense. If we (the taxpayer) are going to loan money to someone who isnt qualified, has no collateral and not screen what they doing with that money to generate a way to pay it back we (the taxpayer) should get insurance on that money. The alternative is we require you to qualify, provide collateral and dictate which degrees are worth of the loan. Or just not be in the loan granting business at all. (the third is my preferred option.)

 

[Lesh]

And nothing. That was the deal and one that makes sense. If we (the taxpayer) are going to loan money to someone who isnt qualified, has no collateral and not screen what they doing with that money to generate a way to pay it back we (the taxpayer) should get insurance on that money. The alternative is we require you to qualify, provide collateral and dictate which degrees are worth of the loan. Or just not be in the loan granting business at all. (the third is my preferred option.)

We (the government) is not loaning that money. The banks are and they are making a killing on it

 

[Couchpotato]

We (the government) is not loaning that money. The banks are and they are making a killing on it

No they aren’t. Wow youre completely ignorant of the issue.

 

[The5thHorseman]

And nothing. That was the deal and one that makes sense. If we (the taxpayer) are going to loan money to someone who isnt qualified, has no collateral and not screen what they doing with that money to generate a way to pay it back we (the taxpayer) should get insurance on that money. The alternative is we require you to qualify, provide collateral and dictate which degrees are worth of the loan. Or just not be in the loan granting business at all. (the third is my preferred option.)

We are the insurance, for private lenders.

It's no different than lending for any asset. There's a risk profile and a required return.

The problem is involving the private sector on both sides of the education transaction (service provider, lender) while offering to socialize any risk.

The way the US chooses to finance education is a mess, and structurally unsound.

If we value home formation, and saving for retirement, among the young it makes no sense to frontload the educational expenses generally necessary to get a decent job.

 

[The5thHorseman]

No they aren’t. Wow youre completely ignorant of the issue.

It's a for profit business.

 

[Couchpotato]

It's a for profit business.

The Dept of Ed makes all the loans. They aren't made by private banks anymore. Haven't for over a decade. Pres Obama signed the bill.

 

[Couchpotato]

We are the insurance, for private lenders.

Which private lenders? Private lenders dont make student loans the DoEd does. 100% of them. Have for over a decade now.

It's no different than lending for any asset. There's a risk profile and a required return.

If that were the case most students wouldnt get a loan.

The problem is involving the private sector on both sides of the education transaction (service provider, lender) while offering to socialize any risk.

You might be right if the private sector were involved in lending the money.

The way the US chooses to finance education is a mess, and structurally unsound.

I agree. The Government should get out of the loan business.

If we value home formation, and saving for retirement, among the young it makes no sense to frontload the educational expenses generally necessary to get a decent job.

Yeah. Take a guess at why college is so expensive.

 

[The5thHorseman]

The Dept of Ed makes all the loans. They aren't made by private banks anymore. Haven't for over a decade. Pres Obama signed the bill.

Then the feds contracted with a private vendors to "service" those loans, and administer the Loan Forgiveness program....

Why is the Worst Student-Loan Servicer One of Betsy DeVos's Favorites? | NEA