Thune, GOP senators push bill to ban Biden from canceling student debt, as president mulls 'executive action'

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[–][deleted] 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

Just a reminder, these fucks aren't our friends either. I mean, it's not that student loan debt should be entirely forgiven, but college and lending for college has turned into a racket. We don't need to pay off financial predators, we should prosecute and confiscate their assets to go towards the debt. Civil forfeiture, it's used to fuck the little guy, let it be used for justice for once.

Let's prorate education loans for the utility of the education, take the difference from the crooked lenders, politicians, and educational institutions that have profited off scamming the American people.

[–]AXXA 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (3 children)

They should repeal the law that says you can't discharge student debt through bankruptcy. If they did then banks would be a lot more conservative in making the loans.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Good call.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Many students get 'guaranteed student loans' at a low percentage rate, arranged by the government, not banks. Students get additional loans after they reach the federal limit for the guaranteed loans. The banks ALWAYS win in this instance, because they can collect interest for decades. 100k in loans, after a few decades is 400k, or similar. The banks are very happy to offer the loans. 2/3rds of the economy is supported by purchases. Paying of some of the student loans would allow young people to afford purchases, houses, cars &c, boost the economy, tax revenue, US dollars, &c. Instead of sending 10 billion to Israel every year, a few billian can be used to pay the debt, and thereby jump-start the terrible economy.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, and IIRC Biden is the reason they can't be discharged through bankruptcy.