The Blue Board

Da Gubment betta pay me my money

For someone who had tons of student debt, and still does...hell no. Pay back the money you owe...

Si.

Also, found this interesting. I did a quick scroll of their Facebook page and clicked on the first 4 or 5 people that support this cause. I hope you are sitting down, but their degrees were as follows: Art Institute, Art Institute, Art Institute, Painting, and a couple Theaters spread here and there.

Shocker

I wouldn't sign the petition and I think people should pay back what they borrow. I am currently doing that right now. But the whole student loan situation is a sham. I had to borrow money just to finish my undergrad and got a job that is paying for my masters degree but Fannie Mae and the government have really found a way to make a lot of money off of it.

In fact, I'll see if I can find the article where the government hopes a certain percentage of people default on their loans because they are guaranteed a net default amount from schools, loan companies, and students. Also, there is no way a petition like this would ever go through. I mean come one, not even through bankruptcy can people rid themselves of their student loan liability. That last part I think is great.

But I'm not a fan of how the student loan program is going on currently for the last 5 years.

Why would I sign that, as much as I hate being in debt? I paid off all my loans... as should everyone else who borrowed it.

I will click on the link as soon as I open my mailbox and see a reimbursement check for the $150k+ I paid out of pocket for my college education.

I agree.

Unless they plan on paying back people who didn't take loans, this seems like a horrible idea.

The reason they would do this is to increase spending, if they cover the peoples loans they will spend more and that's good for the economy, the reasoning is there it's just impractical.

X1000000000000000000000

On the scale of this of size? That has never happened. It would have indeed done more economic good than TARP(which is what the argument WAS about for the website). Although, it's all moving around costs. You are deleveraging one group(the borrowers) while moving the debt to fed govt. Then you can get into interest discussion. If the interest on loans borrowed to pay for the develarging is lower than the interest of the loans themselves then is can be considered a positive investment. If was paid for also instead of borrowing,you could say the same. I completely agree with the moral of the point that everyone is saying on here,but if you read website it was talking about back in '08/'09 as a counter to relief of the financial sector.

Sadly almost everybody has debt in this nation; whether it be mortgage, car, education, or credit cards. The interest point is completely moot, might as well send checks to people with debt on 20% interest credit cards as that would be a much larger financial leverage point than student loans. I am not singling out students(I spent a decade and over $150k of my own hard-earned money as a college student), but the whole idea is ludicrous from every angle and is setting up an ugly precedent. Forgiving the education debt isn't going to suddenly make these people more sought-after in the job market and certainly not more determined to not get into further debt in the future; it is a short term band-aid, and when it is pulled off that sh*t is going to sting for a LONG time.

See at least you read, understood and analyzed the whole point and didn't just look at the link and do a flash judgement on what they thought it was about. Again though, I agree on everything but the economic effect. Theoretically, it is terrible macro policy,but I think it would interesting to see what would happen with deleveraging on this size.