Originally Posted by HockeyIlliterate
I’m on a phone, so I’m not going to cut and paste a rebuttal to each paragraph.
Rants about Trump’s COVID relief is not relevant to student loans issues.
The current interest rates aren’t my numbers. They are the numbers.
I’m aware of consolidating student loans and it’s effects. But locking in a rate at consolidation is a risk you take. Voluntarily, I might add.
The penalization comment about refinancing is interesting. I won’t presume what you mean by that, but I will state that your own comment acknowledges that refinancing is an option—just one that you don’t want to take.
My take from that is that you’d rather not avail yourself of existing options (and possibly regret availing yourself of one previously), which is fine. But then don’t expect others to give you other options that amount to a bailout from the pockets of those who paid off their own loans or never took them out in the first place because they couldn’t afford to do so.
You make many assumptions about my job while I was paying off my student loans. Unfounded and incorrect assumptions. The truth is that I didn’t have a great paying job, deferred a lot of spending, lived like a very broke student for years, and buckled down and paid the loans off. I did it and millions of others have done it.
I was not in favor of bailing out the banks, the car companies, or the homeowners who bought houses way beyond their means.
I would possibly be in favor of allowing student loans to be discharged through bankruptcy, but only on a go-forward basis for new loans. But I would expect any such bankruptcy relief to be conditioned on the to-be-debtor having first being soundly evaluated, much like those who apply for a mortgage or car loan, on their career plan, job options, and educational history and probable chance of success at school.* I suspect that many potential borrowers wouldn’t like that because, chances are, they won’t get to go to their preferred school or study what they want.
But oh well. You want the money? You accept the terms and obligations that come with it.
And if you don’t like the terms or find then to be oppressive or terrible or sucky, then don’t take the money and find another way to attend college and grad school.
But to take the money and spend it, and then turn around and whine about the terms and ask (or demand) for others to pay off your debt just reeks of entitlement, selfishness, and immaturity.
* There are potential problems that could still show up with this, much like the liar loans in the housing market. Fraud could be rampant. Monitoring that the evaluations are done correctly could cost a lot of money. But to just hand out essentially unsecured money that can then be discharged through bankruptcy, well, we might as well just set dollar bills on fire. Which, I guess, is close to what will happen if the government just wipes out all of the student loan debt.
|