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Re: But Biden isn't actually giving the $10k or $20K to students..he is giving it to...

By: Zimbler0 in 6TH POPE | Recommend this post (0)
Sat, 27 Aug 22 1:51 AM | 30 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 34984 of 60008
(This msg. is a reply to 34980 by Fiz)
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Fiz > not one PENNY will touch their hands -- their forgiveness doesn't really change them from drowning in debt.


Almost true, Fiz.
If I had, say, $20,000 in student loans . . . and 'somebody' 'forgave' $10,000 of it. My debt load would be halved - and I assume that would mean that my monthly payments would also halve. Leaving more money in my pocket every month.

But, unfortunately, far too many of the clowns owing money don't want to pay ANY of it back. Far too many of them should never have been in college to begin with and they will never make the kind of money an advanced degree should have netted them.

In my opinion, 'We' ought to first scrap the federal student loan program altogether.

Any student who has defaulted on their student loans . . . Gets a ZERO for a credit score. The new interest rate on their loan is set to zero percent. And their credit score remains at zero till they pay off their loan.

If an individual State thinks they need a 'student loan' program - that State can fund and manage it themselves. Hopefully by putting enough strings on the money that 'students' MUST meet prerequisites and maintain good grade point averages in curricula the State believes it needs people educated in.

In fact, the federal needs to get out of the 'education' business altogether.

Zim.




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Mad Poet Strikes Again.


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The above is a reply to the following message:
Re: But Biden isn't actually giving the $10k or $20K to students..he is giving it to...
By: Fiz in 6TH POPE
Sat, 27 Aug 22 12:30 AM 		Msg. 34980 of 60008

I continue to be amazed that I am, apparently, the only person in the United States who figured out that Biden wasn't "giving" money to indebted students...he was actually paying off his Bankster Buddies! (Forget the 1%, I am the 1/330,000,000 = 0.0000003%)

According to this, it looks like 48% of the loans were in arrears. 48% of 1.05 Trillion? Even if I am off by a bit, it is still quite a bonanza. And nobody but nobody is asking Biden DIRECTLY why he is giving all that money to his #1 sponsors! Nobody is asking him about the conflict of interest so obvious even a corrupt, senile president should be able to figure out.

But no Bankster Left Behind! And NOT A SINGLE TALKING HEAD -- NOT EVEN TUCKER, APPARENTLY -- HAS FIGURED IT OUT! Most of the students get NOTHING, not one PENNY will touch their hands -- their forgiveness doesn't really change them from drowning in debt. The Banksters get EVERYTHING! EVERY PENNY!!

Absolutely nobody else has figured it out! Apparently not Tucker, and not even Trump?

I am a genius!!!


http://www.nitrocollege.com/research/average-student-loan-debt
About $1.05 trillion of Americans’ student loan debt is in the form of direct loans. That’s a steep increase from five years ago when the total was $508.7 billion. Currently, 52% of direct federal loan debt is in repayment. About 8% is in default because the borrower hasn’t made a payment in nine months or longer. The remaining 40% is “on hold” for a variety of reasons:

13% is held by students who are still in school
11% is in forbearance
11% is in deferment
5% is in a grace period
1% is classified as “other”

Forbearance and deferment enable many borrowers to postpone payments if they are experiencing economic hardship, like unemployment or a medical crisis; are serving in the military; or are continuing their studies through a fellowship, residency, or postgraduate study. The main difference is that interest always accrues during forbearance, but does not during some deferments.

The current breakdown is a significant change from the third quarter of 2013, when 42% of federal student loan debt was in repayment, 24% was held by students in school, 13% was in deferment, 8% was in forbearance, 7% was in a grace period, 5% was in default, and 1% was classified as “other.”

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