listen man, and i mean this with all sincerity, i don't care.
im on my 5th house. i buy a car or two every year. ive traveled to more countries than many americans have traveled to states. and im in my mid to late 30s... whats your point?
or perhaps students can take personal responsibility for their actions?
I think the point of his request was to see if you could actual substantiate your claim... i suspect he's already done the leg work behind the scene, just wants you to stand by what you say.
i have over $100k in equity in the home my wife and i bought.
yes lets. I'm sure the word redemption is just something we can never agree to define.
awesome bo. I'm glad ferya. hope you collect on it someday.
Why accrue interest on student loans? Why ensure they can't be expunged through bankruptcy?
Because it's a loan and the government aren't your parents.
So cheats and thieves don't take out loans for tuition only to declare them away in bankruptcy without collateral.
No.
OK, so why are auto or mortgage loans still forgivable through bankruptcy?
Do you know what the number or percentage of people who do that is? In other words, the amount of fraud involved in people who take out student loans who never pay them back?
are you making a case for artificially low government supplied auto loans?
Auto and mortgage loans are secured. The automobile or the home are used as collateral for the loan.
Underwriters determine the value, both at present and future of the instrument they are investing. You can't get a $20,000 loan for a $10,000 car.
Not sure. But it's pretty low, because in order to get out from under a student loan, one must successfully prove undue hardship.
They didn't promise a job but their sales pitch did mislead with false statistics on job placement rates and projected earnings with a collegr degree. There were other options, much better options, and hindsight is 20/20.
i'm really happy for you.
The commercial institutions (Chase, Wells Fargo, et al) are under obligation to pay the Federal Reserve Banks the money 'borrowed'. You and I are not under the same obligation. Prior to Nixon we didn't care because the money was backed by gold. Now it is backed by faith.
Maybe I haven't seen it yet, but are saying that the school and/or lending institutions bear no responsibility for recieving/approving unsecured, subsidized loans without any assurance that they would be able to be paid back? They did literally zero due diligence to lend that money, weren't they taking just as much of a risk as I was? Or did they not care and have zero incentive because they knew I couldn't default? It all seems very unethical to me. So many 18 year olds are not ready for that decision, that was my biggest mistake. Taking a "year off" before starting college was heavily warned against at that time, said you would never end up going. Man I was dumb to take some of that advice and jump into debt without a guarantee.
They issued you the loan because they knew you'd likely pay it back whether you liked it or not. That's the point.
reserve banks and reserve agents, for no other purpose. do you beleive this elasticity in our currency has helped the fed in its mission statement?
