/biz/ - Business & Finance

>>56590474

>Why is the only excuse to not have student loan forgiveness is because “an adult signed a contract”? There has never been a country that has pushed their future generations to take on such a risk much like the United States.

>There is no realistic solution to solving this crisis other than to force creditors into forgiveness or to keep kicking the can down the road. Nobody is going to resume normal payments if at all, and under the government’s new SAVE plan. They pay the interest of your student debt, ontop of most Americans quoted to make near minimum payments.

>Every year more people sign up and make minimum payments with a guaranteed discharge in 25 years, the more interest the government pays. In terms of 100+ billion per year. And that’s going to go higher the more tuition is going to cost.

>>56590474
It's actually because the contract was with the US government.

you can get out of any debt here except one to the gov.

>>56590474
Forgiving student loans for citizens would directly positively impact domestic birth rates, and for this reason alone is worth onsidering since all the fake money used to forgive the debt is just boomer derivatives and bonds and it was their fault all the millennials went to college in the first place

>>56590474
It's a loan, just pay unit back? You wouldn't be stupid enough to take out a loan that you couldn't pay back, or one that wasn't worth taking out, would you? If yes, not our problem, live and learn.

>>56590474
I paid 40k of student loans back working two jobs for about one and a half years back in 2017 while living at home and not having a life. I went to in-state so it was cheaper. My degree was polisci which is completely worthless but I atoned for it.

I feel like a boomer having schadenfreude watching others suffer but it feels good and I hope it continues. I hope I’ll get to pull the ladder out on these faggots later on. Fucking zoomer faggots. Why did your parents even have kids LOL

>>56590474
Blanket forgiveness gives too many lazy faggots a free ride when they COULD pay their loans back, but they choose not to for whatever reason. It also creates moral hazard in which someone who would otherwise pay their loan back, will structure their personal finances to instead not pay the loans back and wait for forgiveness.

The better solution is to reintroduce bankruptcy protections for student debt. Let a judge in bankruptcy court figure it out for individual cases. People who are legitimately bankrupt can be freed from their debts and suffer having no credit for 7 years, while lazy faggots will be too lazy to deal with bankruptcy and at least make minimum payments.

With bankruptcy protections reintroduced, lenders will also be much more careful about who they give loans to and what majors they're taking. This would have knock-on effects throughout all of higher education as market forces take hold for the first time in decades.

Write to your congressman demanding that bankruptcy protections be reintroduced AND RETROACTIVELY APPLIED TO ALL OUTSTANDING STUDENT LOAN DEBT.

https://en.wikipedia.org/wiki/Perverse_incentive

>>56592064
>I paid it back
Cuck.
Your degree being worthless trash disqualifies you from true shadenfreude.