Re: Joe Biden Leaves Millions of Borrowers in Lurch, Abruptly Withdraws His Student Loan Forgiveness Plans

On 12/24/2024 4:38 PM, Skeeter wrote:

In article <vkf87i$207vg$2@dont-email.me>, j_carlson@gmx.com says...

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On 12/24/2024 1:05 PM, Siri Cruise wrote:

Ken wrote:

There have been several attempts at cancelling debt, and many have said that
he has no right to do so.  Does anyone know if *ANY* debt actually has been
cancelled???

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An oft used technique is called bankruptcy. Don Fatso and other republicans use it.
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When mere peons used bankruptcy to forgive loans they could not pay, Congress
amended the laws so that student loans cannot be forgiven. Instead banks can
grab social security old age pensions.

Banks issue virtually no student loans. They haven't done since 2010. Americans
owe $1.74 trillion in total student debt, of which $128.8 billion billion is
owed to banks and other non-government entities (less than 7.5%).
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Federal student loans cannot be discharged in ordinary bankruptcy.
https://studentaid.gov/manage-loans/forgiveness-cancellation/bankruptcy

 and they need to pay that shit back.

Government should have stayed out of the loan business and left it to the banks.  As more money became available from the government colleges just sucked it up by raising tuition's.
Also it is well known that on the average college graduates make more money so are better prepared to pay off loans.