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Post by stroupy on Apr 9, 2024 20:01:19 GMT -5
If they default it comes out if their social security does it not?
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Post by Loggy on Apr 9, 2024 20:06:38 GMT -5
Who do you think bears the expense of continually servicing the loans?? Taxpayers
Who bears the cost of serving continuous delinquency notices?? Taxpayers
Who bears the cost of searching for borrowers?? Taxpayers
What are the chances of collection??? ZERO
What collateral is available to put liens against??? ZERO
THESE ARE JUNK LOANS!! NOT even marketable if bundled via a securitization instrument like Freddie Mac & Fannie utilizes. Please reread my original post. US Treasury balance sheet GREATLY benefits by charging these JUNK LOANS off. It enables our Treasury's Balance Sheet to be in a more positive net equity position.
If you cannot comprehend that.......I sorry. Believe what you want even if totally flawed due to your obvious political blindness. I'm not going to explain for the 3rd time.
As I said several times....issue is the original loan were NOT properly securitized with collateral. Biden initiated to best fix to save the taxpayers continual money going down a one way drain.
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Post by bushmaster on Apr 9, 2024 20:17:30 GMT -5
This is about buying votes nothing more nothing less. TRUTH
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Post by Loggy on Apr 9, 2024 20:30:58 GMT -5
This is about buying votes nothing more nothing less. TRUTH SOCIAL even says so! LOL
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Post by Dutch on Apr 10, 2024 4:57:50 GMT -5
We also have too many young people going to four year schools that should not be there. We have far too many nonacademic kids going to universities and far too few high achievers going into the trades. I do think more guidance councilors are trying to direct good students into going into the trades now than ever before, which is a very good thing. The hard part for them is convincing many parents that little Johnny may be a perfect fit for the work and may very well do better financially. Some of the smartest people I have met were carpenters and machinists. Because I wasn't "college bound" counselors wrote me off. Pizz on those college educated elite back then that looked down their noses at us. I succeeded anyway
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Post by Dutch on Apr 10, 2024 4:59:49 GMT -5
Ya know, I had read about what Loggy is saying about default and such. It made sense.
However, I guess if you are successful and have a loan, you still need to pay it off?
Every politician around election time, throws money around
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Post by jwk on Apr 10, 2024 6:17:05 GMT -5
Who do you think bears the expense of continually servicing the loans?? Taxpayers Who bears the cost of serving continuous delinquency notices?? Taxpayers Who bears the cost of searching for borrowers?? Taxpayers What are the chances of collection??? ZERO What collateral is available to put liens against??? ZERO THESE ARE JUNK LOANS!! NOT even marketable if bundled via a securitization instrument like Freddie Mac & Fannie utilizes. Please reread my original post. US Treasury balance sheet GREATLY benefits by charging these JUNK LOANS off. It enables our Treasury's Balance Sheet to be in a more positive net equity position. If you cannot comprehend that.......I sorry. Believe what you want even if totally flawed due to your obvious political blindness. I'm not going to explain for the 3rd time. As I said several times....issue is the original loan were NOT properly securitized with collateral. Biden initiated to best fix to save the taxpayers continual money going down a one way drain. You can explain it as many times as you want. It is what it is, buying votes, and you will be hard pressed to find many taxpayers that are on board with this. It was deemed unconstitutional the first time and hopefully it will get shot down again this time.
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Post by davet on Apr 10, 2024 6:25:13 GMT -5
I saw this, I'll define it as "College Liberal Non-Thought" back when I was touring college's for\with my kids. (That was 1990 to 1997).
The one incident was with my oldest daughter. The college entrance fellow stated to the effect "Students don't have to complete their degree in 4 years. We have many who take 5, 6 or even 7 years to obtain their degree". To which I said....in not so polite terms....My wife and I both completed our 4 year college in the 4 year time period. College cost money and it's not your money. My kids will all have their degree in 4 years. There's no need to take longer. The guy just walked away.
I also blame high school and college counselors for students who didn't have any help or guidance from their parents who never went to college. Their parents simply didn't know or understand that when little Johnny or Sally graduates in 7 years with a degree in "voice and dance" that there were no jobs for that, or if so, the compensation wasn't enough for them to live independently.
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Post by ridgecommander on Apr 10, 2024 6:25:34 GMT -5
Any talk of student loan forgiveness should be a part of a much larger discussion about predatory practices in institutes of higher learning and the lack of real career guidance in high schools. Those that choose college are sold on a package with little care for their actual success and financial security once their degree is earned. College costs need to come down and career counseling services need to increase.
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Post by dougl on Apr 10, 2024 8:32:04 GMT -5
That I can agree with,I heard Densantis mention that the Universities should fund the loans.I like that idea as well.
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Post by bake545 on Apr 10, 2024 9:07:05 GMT -5
There will never be meaningful cost control at colleges as long as the federal government is guaranteeing loans to anybody who wants to major in gender studies or other useless majors. And the loan forgiveness will just make things worse. There is no incentive to control costs right now. Enrollments are down a ton at a lot of colleges so people are starting to figure out they aren't good investments for a lot of kids which is a good thing.
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Post by ridgecommander on Apr 10, 2024 9:11:39 GMT -5
There will never be meaningful cost control at colleges as long as the federal government is guaranteeing loans to anybody who wants to major in gender studies or other useless majors. Yep. Part of that larger discussion I talked about. I mentioned this before as well. The first two years of many degree programs is useless classes with nothing to do with the majors. Those clases should be eliminated and major focused classes should be the focus. Bachelor degrees could be had in two years and masters in 4 years, which reduces costs.
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Post by davet on Apr 10, 2024 11:35:38 GMT -5
Education matters. For any individual to "get ahead" in life, education is crucial in doing this. That doesn't mean it's all about college. Trade schools provide education. Heavy Equipment Unions provide education on how to run those gigantic yellow machines.
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Post by dougl on Apr 10, 2024 11:57:30 GMT -5
I know two people,both worth millions who have no formal education.Being educated and being smart are two entirely different things.Now that I think about it,I know three.Two of the three are actually convicted felons.
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Post by bushmaster on Apr 10, 2024 12:12:37 GMT -5
I never went to college or trade school. I got educated in a ditch and worked my way out of it. Learned more than I need to know. Started working at lumberyard at 13 years old under the table. Physically it's taken a toll but that's like tuition. Mentally I'm only slightly touched in the head. Lol
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Post by davet on Apr 10, 2024 13:54:54 GMT -5
I never went to college or trade school. I got educated in a ditch and worked my way out of it. Learned more than I need to know. Started working at lumberyard at 13 years old under the table. Physically it's taken a toll but that's like tuition. Mentally I'm only slightly touched in the head. Lol Ditch digging.......Sooooo...you started out at the very top!!
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Post by bushmaster on Apr 10, 2024 14:02:43 GMT -5
Nothing wrong with ditch. Lots to learn there. Presently President of Large Landscaping company. The key is to pick a path and be the best you can. With or without college.
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Post by davet on Apr 10, 2024 14:13:24 GMT -5
Nothing wrong with ditch. Lots to learn there. Presently President of Large Landscaping company. The key is to pick a path and be the best you can. With or without college. That was a very old quip my Grandfather used when he ask me what I was going to do with my working life. Had a summer job working at Conneaut Lake amusement park between my Jr and Sr HS years. $1.32\hr and the park was exempt from paying OT over 8hr\day or 40\hr a week. I bought my first rifle with that money!! After HS worked as a gas station pump jockey....during the freezing winter of the first "gas shortage" when people went nutz lining up for gas even if they had 3/4 of a tank!! After that got a job as a night shift janitor. I won't tell you how dirty a women's room can be after just one day. Finally went to a machinist training center, got a job at a local manufacturer making good $$$ for a 19YO. Got bored as I worked 2nd shift....no party life for me!! Quit and went to college. 2yr at the community college then transferred to a 4yr. Commuted all 4 years so I can't tell you what a weekend college party is like. For me, college was the best thing that ever happened. What I needed when I graduated HS (I turned 17 in Jan and graduated in may) was time to grow up. I had no idea how the world worked back then. (I sometimes question if I know how it works now!!)
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Post by rusty on Apr 10, 2024 14:18:28 GMT -5
Most school district councelors have a larger a workload than they should. Students have far more problems than they did when most of us were in school. I think the majority of it comes from broken homes, single parents, a huge drug problem-with the parents more than the kids, and parents that are always looking to blame the schools for their kids troubles and threaten lawsuits. There are at least a couple lawyers I know of that make the majority of their money suing school districts.
That said most councelors put more effort into directing student toward the trades than they ever did. The parents of most good students very often fight any idea that does not include a four-year degree. Again, time restrains limit the amount of work that can be devoted to career guidance. Too bad more parent take more of interest in directing their kid to finding a path that suits them best.
In my experience I have seen many graduates that had no direction and were likely going to drift along from job to job benefit greatly from a few years in the military.
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