cancel
Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

Re: Pure genius

Students can't default on the loans. Student loans are unforgavible. You don't seem to graps this fact. Why?

 

Let's put it in terms even you might understand. I am afraid I will have to use a parable since you fail to understand common facts.

 

So, let's say that you want to buy a Chevy truck (a student loan for college), but Chevy does not offer loans (neither do colleges). You can get a Stafford loan if you want a plain truck ( a small government loan), but if you want a super duty truck, the Stafford loans won't be enough so you may have to get your loan through a private bank. Either way, you won't be getting the loan from Chevy (the college - they do not give loans). Once you get the loan, Chevy (the college) gets paid off. Get that? However, now you either owe the debt to the government, if you bought a plain truck, or you owe a private bank if you wanted the super duty truck. Which ever loan you got, it will have to be paid off or you will have to die. You can't claim bankrupcy. You can't be bailed out. Either the bank or the government will want their money and may garnish your wages or repossess your truck if you fail to pay. All you can do is hope that if you bougt the super duty and want to pay 3+ percent instead of 6+ percent, some bill is passed to make that possible, or that you will make enough money to pay the loan.

 

 

Senior Contributor

Re: Pure genius

I can't help it if you personally say unreasonable things. You had the opportunity to debate, but you instead pointed out that tuberous vegitables do not have human blood. You addressed nothing I pointed out and that is called avoidence.

Senior Contributor

Re: Pure genius

KNAPPer, your trying to educate, a person, (3020), who is not capable of rational thought processes, he and oily, are both, uneducated jokes.

Senior Advisor

Re: Pure genius


@KNAPPer wrote:

Students can't default on the loans. Student loans are unforgavible. You don't seem to graps this fact. Why?

 

Let's put it in terms even you might understand. I am afraid I will have to use a parable since you fail to understand common facts.

 

So, let's say that you want to buy a Chevy truck (a student loan for college), but Chevy does not offer loans (neither do colleges). You can get a Stafford loan if you want a plain truck ( a small government loan), but if you want a super duty truck, the Stafford loans won't be enough so you may have to get your loan through a private bank. Either way, you won't be getting the loan from Chevy (the college - they do not give loans). Once you get the loan, Chevy (the college) gets paid off. Get that? However, now you either owe the debt to the government, if you bought a plain truck, or you owe a private bank if you wanted the super duty truck. Which ever loan you got, it will have to be paid off or you will have to die. You can't claim bankrupcy. You can't be bailed out. Either the bank or the government will want their money and may garnish your wages or repossess your truck if you fail to pay. All you can do is hope that if you bougt the super duty and want to pay 3+ percent instead of 6+ percent, some bill is passed to make that possible, or that you will make enough money to pay the loan.

 

 


How do you repossess an education?  Warren wants to make it easier to pay off a student loan. The colleges are the big winners period. Without her intervention it will be harder to get a loan because EVERY loan has risk to the lender unless the government changes the rules. Easy $ = higher tuition rate.

Senior Contributor

Re: Pure genius

He knows the difference. He is just a sourpuss who will not listen to reason, no matter how good a case is made. I asked for debate but all I learned is that a turnip does not have blood. What does that have to do with anything? Maybe I should have said " A rolling stone gathers no moss?" That would be equally profound and mean nothing.

Senior Contributor

Re: Pure genius

You have hit the nail on the head, KNAPPer, everything he pronounces is, "equally profound and mean nothing".

Honored Advisor

We might be socialists...

Senior Advisor

Re: Pure genius


@KNAPPer wrote:

He knows the difference. He is just a sourpuss who will not listen to reason, no matter how good a case is made. I asked for debate but all I learned is that a turnip does not have blood. What does that have to do with anything? Maybe I should have said " A rolling stone gathers no moss?" That would be equally profound and mean nothing.


You know what Knapper, I think I agree with you. This will not go to the colleges. It is another bailout for the banks that made the loans. Lower interest rates for students, higher tax burdens for the rich. Who could oppose that? But then again, with the lower interest rates students will be tempted to take on more debt......so they can afford the ever increasing tuition rate. I don't know. I still say easy money = higher tuition rates

Advisor

Re: Pure genius

What I thought. No chance of passing but a potentially effective bit of unrestrained political posturing. Congress is such a monkey house. But then the likes of Daryl Issa and Lindsay Graham have substantially lowered the bar. http://m.huffpost.com/us/entry/5461988/
Senior Advisor

Re: Pure genius

What do  you mean by market forces. Demand is what is driving colege costs higher. Or do you mean that you want that you want to drive the demand lower by excluding those of lesser means?

 

Elections have nothing to do with it unless you wish to elect more scrooges to attack the poor.