How do people become this kind of parasite?
Comments
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Just erase the debt!
I wonder if Pramila could explain the basic accounting of that write off on the balance sheet, p&l and cash flows. -
The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
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Ask Joe BidenDerekJohnson said:The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
He wrote the legislation
Thats the joke -
She doesn’t complete her thought as usual, either deliberately or stupidly. Government backing the loans and individuals being tied to the loans forever keeps the interest rates artificially way low and this raised the cost in general as a result. Same shit with housing, but at least there’s an asset there to grab. There is no accounting scenario where debt just goes away without someone holding the bag. Beauty of the double entry system that Race helped invent.DerekJohnson said:The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
There’s no good solution here aside from raiding or taxing the endowments that have clearly benefited from this scam. -
This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
Handing out Federal loans like candy to 18 year olds who just want to party justifies the tuition hikes that keep the universities belly's full.DerekJohnson said:The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
They use the Kobe's like a slush fund. -
They can get that loan because the Federal government backs those loans. Remove the Federal guarantee and you won't have banks making those loans.RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
The left is all in with Big Banks, Big Pharma, Big Tech and Big Universities.RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.
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So everyone's saying it's the same scheme as giving people home loans that can't pay them and wondering why foreclosures skyrocket?
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Exactly.SFGbob said:
They can get that loan because the Federal government backs those loans. Remove the Federal guarantee and you won't have banks making those loans.RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
There are a lot of kids in America going to college who should not be and are wasting 4+ years of income production on top of going in to debt. You don't need a college degree to make $50k a year. After expenses for school, that's potentially a $400,0000 swing in dollars for someone who goes to college to end up working as an executive assistant.
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Big banks are just processors for this stuff. They aren’t angels, but your anger is misplaced on this issue. Curious who the people are here that you are referring to. The 43m with loans or the 290m without loans? Who should we be protecting here?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
The theory is that almost all students graduating with a significant amount of debt are bankrupt and the first thing they would do is file - which is a pretty safe assumption. The actual market solution is to get the feds out of student lending and let the market work. Banks would only lend to students which showed they could and would pay the debt back. If the bank wants to lend a $100,000 of shareholder money to a gender studies student, let them. If the student then qualifies, let them file for bankruptcy. Colleges would also be free to lend money to the students they are grifting.DerekJohnson said:The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
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But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
I love this idea. It would also mean a lot of people would stop needlessly attending college. A college education has significantly depreciated over time. What happens to this value when the education becomes free? Students would learn far more about business or engineering in a 1 year apprenticeship or paid internship than 4-5 years of college.WestlinnDuck said:
The theory is that almost all students graduating with a significant amount of debt are bankrupt and the first thing they would do is file - which is a pretty safe assumption. The actual market solution is to get the feds out of student lending and let the market work. Banks would only lend to students which showed they could and would pay the debt back. If the bank wants to lend a $100,000 of shareholder money to a gender studies student, let them. If the student then qualifies, let them file for bankruptcy. Colleges would also be free to lend money to the students they are grifting.DerekJohnson said:The one part where I vaguely agree with her is why is it that when someone files for bankruptcy, they can erase all debts except student debt? What is that about?
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Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?RoadTrip said:
But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
Does the federal government back the $10 - 20K loan? The problem isn't "strange" at all. In one case the Feds guarantee the loan, there is no risk for the lender, in the case you cite there is no guarantee and the lender faces a risk. What part of this are you not understanding?RoadDawg55 said:
Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?RoadTrip said:
But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
It’s a government problem. Period.RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.
And by “we” you mean people who worked and paid for their education, or had family help, or didn’t go get a degree and started in the trades…we should any of the above be on the hook for somefucks loan to get a degree In Swahili?
And it’s not just 18 year olds. The number of people in their late 20s and 30s who have been “working in their degree” is a large number and these people tend to borrow and borrow.
On the same line of thinking, should the above listed group be on the hook for paying doctors, lawyers loans while these professional can make hundreds of thousands or millions a year? -
Yes it is but I'd say the same if that kid didn't have the wherewithal to repay the $10K loan. It doesn't take much other than hard work to earn the ability to take out a $10K loan.RoadDawg55 said:
Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?RoadTrip said:
But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still. -
For a hundred grand education the kid should be able to present a business plan that a bank will fund 10 grand forRoadDawg55 said:
Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?RoadTrip said:
But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.
DAWG sense! -
A “kid” can get a business loan the same as anyone else. Their age doesn’t matter. Just go through the process.RoadDawg55 said:
Is it not strange or a problem to you that the same kid that can rack up $100,000 in debt can’t get a 10-20k loan for a business?RoadTrip said:
But still what? Just because you can get a loan doesn't mean you should run up $100-$300,000 in debt for school loans you won't be able to pay back. Should I get relief for the hundreds and hundreds of thousands I've paid out of my own pockets for my children's education?RoadDawg55 said:This is a topic where I lean left. I’m not going to cry for the universities and big banks.
An 18 year old kid can’t get a 10k loan to start a business, but they can get 100k to attend a University. It’s wrong.
The enemy is big banks, big pharma, and big tech. I side with the people. I know someone here will tell me how we will end up paying, but still.
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I'm still trying to figure out why college tuition is through the roof, it's a mystery?
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Same with healthcare, it’s as if segments of the economy that are heavily distorted by the government and lack free market principles aren’t very efficient. I blame capitalism.46XiJCAB said:I'm still trying to figure out why college tuition is through the roof, it's a mystery?
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Because kids get a shitty education they say things like - Hey Boomer college was cheap when you went
No loans and the colleges had to charge what people could afford. Universities weren't bloated with diversity vice presidents and the rest of the bullshit
Its like fucking magic or something -
We didn't have rock climbing walls in my day. We had a student rec center for BB. It's a mystery how I could graduate with only a $2500 GSL to repay. And buy my first home within 4-5 years. Can't figure out what changed?
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I'm sure this has no impact on the cost of tuition. I blame the free market.
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Also due to the fact colleges have become tax free hedge funds making some of the dumbest among us multimillionaires if they can just get tenure. Unions and their unholy alliance with government are Marxist threats to liberty.SFGbob said:
Same with healthcare, it’s as if segments of the economy that are heavily distorted by the government and lack free market principles aren’t very efficient. I blame capitalism.46XiJCAB said:I'm still trying to figure out why college tuition is through the roof, it's a mystery?
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$352,000 plus gold plated benefits for the rest of this dumbshit's life. By the time she retires, she'll be making close to $500,000 for the rest of her life which is the equivalent of 2 people putting away more than $10 - 12 million into their 401ks. Any of you have $12,000,000 in your 401k's?SFGbob said:I'm sure this has no impact on the cost of tuition. I blame the free market.
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All true, but don't blame her.RoadTrip said:
$352,000 plus gold plated benefits for the rest of this dumbshit's life. By the time she retires, she'll be making close to $500,000 for the rest of her life which is the equivalent of 2 people putting away more than $10 - 12 million into their 401ks. Any of you have $12,000,000 in your 401k's?SFGbob said:I'm sure this has no impact on the cost of tuition. I blame the free market.
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I agree. So much so I often wonder if my da's advice was bad and I shouldn't have one of my sons go down this path. I know a married couple who work for the port of LA. He is retiring at 48 and 20+ years to let his wife who has 25 years and is making more than $350k a year. He was at more than $180k. So this couple who has 2 children will retire on more than $500k a year for the rest of their lives and gold plated benefits. Again, it's the equivalent of puting away about $12,000,000 into a 401K which is impossible when we've been limited to $16k a year now for me and at about $29k now that I'm over 50. Government is beyond corrupt.BleachedAnusDawg said:
All true, but don't blame her.RoadTrip said:
$352,000 plus gold plated benefits for the rest of this dumbshit's life. By the time she retires, she'll be making close to $500,000 for the rest of her life which is the equivalent of 2 people putting away more than $10 - 12 million into their 401ks. Any of you have $12,000,000 in your 401k's?SFGbob said:I'm sure this has no impact on the cost of tuition. I blame the free market.
