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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 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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