Categories News Regrettably that is exactly what you would get Post author By wednesdaygift_kclq8m Post date April 14, 2022 37 Comments on Regrettably that is exactly what you would get Sadly that is exactly what you would get View Reddit by Comfortablejack – Watch Source ← No cost As A Hen Present Card Bag → Wekiog Credit history Card Bottle Opener for Your Wallet, 6 Packs 37 replies on “Regrettably that is exactly what you would get” worst that could happen? whoever profits from the loan interest would be way less rich…..but i’m all for canceling even though i have proudly paid off one of mine so far curing polio would be a slap in the face to everyone who slowly died of the disease. you can die with your head held high knowing others will suffer as you have. I feel like canceling them, without instituting another way to pay for school (cough… make it free… cough, cough), is like pulling a steady stream of people out of a river, without doing anything about the people who continue to fall in. When I went to college, I took the cheap route at every turn, and even waited to finish up until my job would help pay. Back then there was a capped rate on online courses. So I took almost 2x a full course load and worked full time. I just remember writing papers non-stop for a few years. Graduated with 10k debt and was able to pay it off quickly. I still think we should cancel all student loan debt. Youth is our future, not our debt holders. The system is fucked up. A blanket cancelling of all student debt would be the equivalent of if they gave every baby boomer that didn’t save for retirement a $100,000 injection into their 401k/stock portfolio on the day they turn 65. Everyone who saved up to retire gets nothing, well, what the fuck? Everyone who isn’t a boomer just…. Keep saving kids you’ll do fine. Everyone who turned 66 last year tough shit. Everyone who received that big lump sum payment will be eternally grateful for the government’s help. When in reality, the government didn’t fix shit, they just printed more money for a small portion of the whole populace but just spread the debt across to everyone else. The gov can institute laws for allowing refinancing of debt. They can set caps on interest. They can allow for “silent seconds” to expire after a certain time as long as the debt is paid. There’s a *litany* of ideas that they refuse to take and the only idea being screamed is just pay them off for us. It’s not the right strategy. The fact they refuse to take any position is honestly dumber than the position being screamed as our only option. The real answer is banks wouldn’t give out loans unless you had a considerable down payment and they felt confident you would pay them back resulting only the wealthy being able to go to collage further widening the wealth gap. So yeah there’s your worst case scenario. Assuming “Cancel student loans” is different from “Make collage free” and just intends to remove everyone’s loan debt. The loud trolls hollerimg waaaaaaas n😭 fair are slapping all those without internet acess or even electrocity by being online shitposting against correcting Stident debt Fortunately most people throughout history are better than that so we no longer our 30 year lifespans living in caves and huting with rocks to honor our stone age ancestors Despite their tantrums progress is inevitavle and higher educatuon and even more importantly health care will be free for all to use one day. Then the ragers can get therapy to deal with corporations paying taxes, a concept which seems to trigger them That army vet b!tch who got booted off of LinkedIn is one of these people. Just that it’s a waste of money and doesn’t solve the actual problem? I would rather go after predatory loans that cause the prices to go up in the first place college should be free anyway I would demand healthcare debt next (or first. My dumbass loans can sit around, idc) Question… if student loans already taken were “canceled”. Doesn’t the money have to come from somewhere? I imagine it coming down to increased taxes- like everyone would then be paying for it? Crab mentality With that logic, why not cancel all debt and let’s see what happens….. What? That’s the only response? The fact that the nation is 30 trillion in debt with an already massively inflated economy that would only get worse with another massive supply of magic money pumped into it was never mentioned? I will be the first to say the government has royally screwed everyone over with the student debt stuff. By guaranteeing the debt sticks it meant anyone could get any amount of student loans allowing universities to charge literally any amount knowing anyone could pay it and the only person hurt is the students now more in debt than they may ever be able to fully repay. It is a terrible situation that needs to be addressed but where we are now is between a rock and a hard place where just forgiving it could have large impacts on the economy at a time where it is at the worst it has been in over a decade at least. This is something that should be discussed and it is not as simple as some people want it to be. This is why interest is haram. What’s the worst thing that could happen if criminals weren’t punished for their crimes and all I got was a bunch of people that would essentially be upset because they were being robbed, assaulted, and raped. That feeling when your very important degree that cost you 80k and you paid off 15 years ago isn’t reimbursed but the kid who changed his major 12 times to learn African dance studies and Race theory and was 100k in debt gets cleared. Nice Cancelling student debt would cause the global financial market to collapse. Banks and hedge funds are over leveraged. Remember 08 and the housing market? Those greedy fuckers did the same thing with student loans. Nobody talks about it though 🤷♂️ Not exactly. The loan debt wouldn’t just disappear. The rest of us, who have already paid our own student loans, would now also have to pay the ”forgiven” loans that others borrowed through our taxes. Tuition prices would skyrocket since universities would be secure that loans will be forgiven. They could charge whatever they wanted and students will take loans for the first few years. Now school would be 200,000/year and be reserved for the ultra-rich. Or saddle the next decade of students with $1M of debt before they ever get started. Bullshit…the worst thing is the obvious: Taxpayers are on the hook for poor decisions about excessive loans and schools get to continue robbing students with overpriced, useless degrees. Yeah, I’d be kinda annoyed that I had to pay mine off and they didn’t, but I’d also feel good for them since they don’t have to deal with all the stress I did with paying it off. This is the number 1 reason student loans will never be forgiven. Greedy wall street fucks that monetize every god damn thing. 1 Student loan asset-backed securities (SLABS) are exactly what they sound like, securities based on outstanding student loans. These loans are packaged into securities that investors can buy, which deliver scheduled coupon payments much like an ordinary bond. The fairest system to be the most fair to those who have paid and those that are paying would be to cancel the interest and have the student pay back the principal. But that will never happen because, see number 1. Also military recruiting would drop to record lows if there was a fair system to get an education and the people who own this country couldn’t keep lining their pockets killing little brown children overseas. We can’t have that now, can we /s. Why would the government want to forgive student loans and college doesn’t always mean a six figure job unless you major in a field that pays well, majoring in political sciences won’t pay well not will you get paid well in any liberal arts degrees. You get that sort of response if you ask 4 people who desperately wants it done and then sit down to write your meme. Give them a refund. Canceling student loans would represent a giant wealth transfer from the poorest individuals in our country to the middle class. Maybe dumb fucks on Facebook don’t have good points but there are good reasons. There would also be a load of colleges and universities who would be very upset because they would consider themselves to have been cheated out of a lot of profit. Another post made by a child who doesn’t know shit about American economics. Inflation Thank goodness people in this comment section actually have their heads on straight and consider the economical ramifications of actually doing this. Yeah student loans suck but the government stepping in to pay it all off for everyone would cost the tax payers a crap ton and would cause another inflation spike. Because the government is already in massive debt so they would have to print more money to pay the loans which means the value of the dollar decreases because there’s more in circulation. Cancelling them expends a fair amount of political power on a small group of people who, generally, don’t really *need* the help. If you have the political power to do such a thing, it’s probably better to target larger swathes of people / people who do need the help more. And/or to institute better policies. “Cancel student loan debt” seems like a simple thing if you’re a college kid who doesn’t really know how the government works, and doesn’t really understand opportunity cost. It just shows you how selfish and shitty the average person is. Who gives that much of a fuck that someone else could possibly benefit while you don’t. Why did they get one and I didn’t. I can’t think of anything more childish. The rest of us have to pay off that debt, it doesnt just disappear You do realize that the reason why college and university costs so much is a subtle way to prevent *certain* people from achieving a college education right? How about we would spend trillions on the HIGHEST earns in our population, further increase the HUGE wealth divide in America (which is becoming more and more of a college divide). 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