Cancel student-loan debt? That’s making the working class subsidize the elite

Re:Cancel student-loan debt? That’s making the working class... by treeman79 on Saturday November 21, 2020 @12:27PM (#25171068)

Change bankruptcy law so student debt is discharge. Don’t let government back loans.

Lenders will only lend to people have a decent chance of paying it back.

So no more nonsense degrees unless your rich.

Colleges have grown fat on easy money. This will slim them up again

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Re:Cancel student-loan debt? That’s making the working class... by bwb on Saturday November 21, 2020 @01:44PM (#25171741)

They could also just move all college loans to Fed interest rates of near 0%.

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Re:Cancel student-loan debt? That’s making the working class... by underseacables on Saturday November 21, 2020 @12:33PM (#25171120)

I think everyone who has taken a loan out should pay SOMETHING - a settlement sum perhaps, based on their last year tax return. IE. The government will forgive 80% of your loan, but you must pay the remaining 20% on an affordable, no interest payment plan. Failure to pay that your only option is to declare bankruptcy and have it discharged. I have a real problem with anyone getting off totally free.

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Re:Cancel student-loan debt? That’s making the working class... by treeman79 on Saturday November 21, 2020 @12:39PM (#25171159)

Variations of bankruptcies require paying.

If have some income it tends to be a sliding scale. Chapter 13.

You have to be very broke to get everything wiped off. Chapter 7

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Re:Cancel student-loan debt? That’s making the working class... by indymike on Saturday November 21, 2020 @12:42PM (#25171178)

This is how bankruptcy works.

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