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Tuition Forgiveness

PhDeac said:
You must not have an internet. I’ll let you borrow mine sometime.




Right. “But that’s the way it is” is a bad argument against “that’s not how it should be.”
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your argument is that banks should lend money for free?
 
ImTheCaptain said:
your argument is that banks should lend money for free?
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No. I argue that state and federal governments should spend more on higher education. Student loans shouldn't be predatory and have reasonable terms that don't force people to pay double or triple what they owe. Are you arguing that paying back $60,000 over 20 years on a $50,000 loan is free money?
 
PhDeac said:
No. I argue that state and federal governments should spend more on higher education. Student loans shouldn't be predatory and have reasonable terms that don't force people to pay double or triple what they owe. Are you arguing that paying back $60,000 over 20 years on a $50,000 loan is free money?
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none of that has anything to do with your complaint, which is "i paid back my $50k already !1" despite the fact that that's not how loans work. your argument seems to be "whenever i've paid the bank $50k, i'm done paying" which is nonsensical
 
You are arguing with someone that has been known on the boards forever for actually just walking away from debt so I don’t think you are going to craft an argument that is even remotely in the same realm so everyone should just agree to disagree.
 
Louis Gossett Jr said:
You are arguing with someone that has been known on the boards forever for actually just walking away from debt so I don’t think you are going to craft an argument that is even remotely in the same realm so everyone should just agree to disagree.
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yeah, i suppose so. whether or not charging interest is moral is one thing but he's not even arguing that
 
hwo does Ph even pay for his groceries? when you get the to the register they add dollars on top of what it says on the sign
 
If you had a credit card that you spent $10K on every month for a year and didn't make any payments beyond the minimum, and just let the interest add up, and then paid off the rest of the $120,000 in principal the next year, would you say, "Hey, I just paid off my credit card bill because I only bought $120,000 of stuff last year !!!" ??
 
ImTheCaptain said:
your argument is that banks should lend money for free?
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The lending system should be regulated more tightly seems like a pretty acceptable argument and a far cry from "Lend money for free." Also, most student loans are government run programs, not private banks, so the asking the government to offer loans with exceptionally small interest rates does not seem like a crazy proposition.
 
The old saw says that if you owe $10,000, the bank owns you, if you owe $10,000,000, you own the bank. It's always been true, but Republicans by and large are the party of the guy who owns the bank - their leader, as already pointed out multiple times, has gotten out of many many millions in debt through bankruptcy and stiffed untold numbers of contractors and tenants by wielding his excess economic power. They just can't stand it when the script gets flipped and the people who are supposed to be owned by the bank get a little something.

I don't think this has been pointed out in this thread: Student loans are much, much harder (to impossible) to get rid of in bankruptcy than any other kind of debt (google "Brunner test"). Contra, it is easy for a company owned by a billionaire to get into bankruptcy and resolve all its debts. See, e.g. not only Donald Trump but David Tepper's Panthers HQ bankruptcy, just to name one that's been in the news. Rich people are happy to take advantage of the law when a risky business deal goes south. When a poor person makes a mistake in choosing their course of study, or just has bad luck in life, the rich people think it's a horrible sin and an awful moral hazard to let them off the hook in any way.
 
birdman said:
The lending system should be regulated more tightly seems like a pretty acceptable argument and a far cry from "Lend money for free." Also, most student loans are government run programs, not private banks, so the asking the government to offer loans with exceptionally small interest rates does not seem like a crazy proposition.
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i agree but that doesn't seem to be his position
 
LK, he's talking in board memes about how I did a short sale several years ago. Just looked it up and that home is estimated at over triple what it was worth at that time.

ITC, I explained my position and you just hand-waved it in favor of other stuff you've made up in your head to not understand.
 
birdman said:
The lending system should be regulated more tightly seems like a pretty acceptable argument and a far cry from "Lend money for free." Also, most student loans are government run programs, not private banks, so the asking the government to offer loans with exceptionally small interest rates does not seem like a crazy proposition.
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I mean, they basically already do that. In what other capacity can someone with no earning history, no current earnings, and literally zero collateral borrow hundreds of thousands of dollars at somewhere between like 3% and 8%? This isn't the case of a home lender charging 18% on top of the actual security of the house.

This is a lender giving extremely favorable, to the point of being ridiculously favorable, loan terms and then the borrower who accepted those loan terms bitching because they apparently made a stupid decision to take the loan and can't pay it back on those extremely favorable terms. I'm okay with the forgiveness if some votes need to be bought, but it is pretty clear who gets the blame here to the extent there is blame to be placed. Acting like the lending institution in this situation is predatory is asinine. It is basic math that could be calculated at any point in time before, during, or after the loan was made.
 
PhDeac said:
LK, he's talking in board memes about how I did a short sale several years ago. Just looked it up and that home is estimated at over triple what it was worth at that time.

ITC, I explained my position and you just hand-waved it in favor of other stuff you've made up in your head to not understand.
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i did not hand waive it. i challenged your assertion that interest is a nonsensical concept
 
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