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A comment on Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges. Parent comment

Re:Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges by stuntkite on Tuesday March 20, 2018 @08:03PM (#16634004)
I had a bad year last year and the couple before. I defaulted on my student loans, they got sold off, and it just so happened that I was in a group of sold off student debt that didn't get the information sold to the new organization handled correctly so for me and a couple hundred thousand delinquents had their student loans lost in the mail.

It's completely unfair that mine went away and people that are upside down and have been "playing the game" are still in the slog, but it by a wide margin the most fortuitous thing that has ever happened to me.

https://www.forbes.com/sites/zackfriedman/2017/07/18/5-billi...

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Re:Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges by daemin on Wednesday March 21, 2018 @05:29AM (#16636588)
Could you buy your own student debt for pennies on the dollar then forgive it and take a tax loss?

Or could a bunch of former students band together and do this in a cooperative type corporation? Buy defaulted student debt, then forgive it?

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Re:Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges by te_chris on Wednesday March 21, 2018 @05:43AM (#16636637)
I remember seeing stories about an Occupy group doing that.

You know, a distributed ledger of defaulted US student debt might actually be a useful use for a blockchain.

(I say this as a NZer whose student debt was held by the govt. and had capped fees etc.)

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Re:Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges by daemin on Wednesday March 21, 2018 @07:29AM (#16637077)
Yeah, I think it was an episode of The Daily Show where they bought a whole tranche of medical debt and forgave it.
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Re:Chinese Companies Are Buying Up Cash-Strapped U.S. Colleges by lightbyte on Wednesday March 21, 2018 @09:30AM (#16637817)
It was an episode of Last Week Tonight a few years ago. They noted that you can not buy individual debt, just large blocks of it. So HBO let them buy a large block of it and they told everyone they wouldn't be collecting.
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