Article

2017-03-02 -Short Attention Span Theater-

Half of college students think their loans will be forgiven

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Posted by DarthVader 2017-03-02 00:00|| || Front Page|| [11135 views ] Top

#1 Well, when you print up 20 Trillion dollars of debt (and climbing), at a certain point the eventual inflation can catch up on the numbers on the books*. Meanwhile, you still need to pay the minimum on your balance.

The bank holds a note on a 250k house before the Big Bust. After the Bust, the house is only worth 175K on the market. What do you do? You have your employees on the rotation at the Fed and Treasury print loads of money driving up real inflation while under reporting not to panic the rubes. Now, that house is once again worth 250K and your books are good. Meanwhile, the rubes get to cover your bad by paying twice as much at the stores for food, gas, and other daily commodities. It's almost as though it was a tax to bail you out.

Posted by Procopius2k 2017-03-02 05:42|| 2017-03-02 05:42|| Front Page Top

#2 ...And a disturbing number of students seem to believe that the loans will ultimately be forgiven on a national basis (as opposed to individual) because "everybody knows that the loans will never be paid back so the government will have to bail them out like they bailed out the banks and auto companies."

The first part - 'never be paid back' - may actually have some small truth to it. But the lil' darlings seem to forget that as long as you are getting money from someplace, even unemployment payments, all it takes is a couple lines of code and you're making the payments whether you want to or not. No debates in the media or Washington, no arguments on Capitol Hill, and definitely no chance for you to argue about how unfair it may or may not be. Just some minimum wage data entry drone hitting some keys to enforce an agreement you freely made, so you are not burdened with having to figure out how you're going to pay and have that much more time to reflect upon your choice of Medieval Gender Studies as your major.

And book this - If Hillary! had the good sense to even suggest the remote possibility of a review of student loans, she'd be President right now. The next Democratic candidate won't make the same mistake.

Mike

Posted by Mike Kozlowski 2017-03-02 06:03|| 2017-03-02 06:03|| Front Page Top

#3 Let's make a deal: I get to set the curriculum and test standards, and if they graduate their loans can be forgiven.

Posted by Glenmore 2017-03-02 10:24|| 2017-03-02 10:24|| Front Page Top

#4 That half will return to their own country after graduation and never be found again.

Posted by Skidmark 2017-03-02 10:28|| 2017-03-02 10:28|| Front Page Top

#5 A lot of these kids have been told this since their first visit of the tooth fairy.

But don't worry kids..the Easter Bunny will leave payment for your Promissory Notes over on Free Parking, Sorry! you hit a Mouse Trap, but it isn't my Boggle.

Posted by swksvolFF 2017-03-02 10:36|| 2017-03-02 10:36|| Front Page Top

#6 I like the way you think Glenmore

Posted by g(r)omgoru 2017-03-02 11:30|| 2017-03-02 11:30|| Front Page Top

#7 With the interest they charge on some of these loans they are paid back many times over before the principal is even dented. Hey, kids! It's a scam. There should be a truth in lending law that forces these kids to discover how long it will take them to repay the loans, and how much interest they will pay in the process, given their earning potential with their chosen academic majors.

Posted by Abu Uluque 2017-03-02 12:06|| 2017-03-02 12:06|| Front Page Top

#8 The entire history, ways, and means of economics and loans is sitting in their pocket. Probably an app if they don't feel like pencil, paper, no calculator.

Posted by swksvolFF 2017-03-02 12:38|| 2017-03-02 12:38|| Front Page Top

#9 become permanently disabled

Perhaps some lawyer will claim that their brains already are, based on the current curriculum and campus social requirements they face.

A good percentage of them are certainly not ready for the real world.

Posted by Mullah Richard 2017-03-02 12:48|| 2017-03-02 12:48|| Front Page Top

#10 A good percentage of them are certainly not ready for the real world.

Not true. I have floors which need mopping. My daughter could use one of them.

Posted by swksvolFF 2017-03-02 13:08|| 2017-03-02 13:08|| Front Page Top

#11 Why forgive the whole thing? Let them pay 15% of whatever they make until they either pay it back or die. At least it won't crush them out of existence.

Posted by gorb 2017-03-02 15:03|| 2017-03-02 15:03|| Front Page Top

#12 I like Gorb's idea. Nothing better to kill socialist inclinations than to have the government take an every larger chunk of your paycheck.

Posted by rjschwarz 2017-03-02 16:49|| 2017-03-02 16:49|| Front Page Top

#13 Perhaps this is related to those spam emails I keep getting about forgiving student debt. Do the same half also believe they can last longer and beat diabetes with acai?

Posted by james 2017-03-02 20:27|| http://idontknowbut.blogspot.com 2017-03-02 20:27|| Front Page Top

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