Should the feds be able to "cancel" student debt?

[smackaholic]

I put cancel in quotes, because their is no such thing.

Debts can't be cancelled. They can only be transferred. But it sounds better to just make believe it never happened.

There is one way to cancel a debt and that is to repay it.

Why is there no discussion about who repays it?

I have an idea. How about we look at who actually received the loan, the educational institutions and let them repay it.

If Bob goes to Fuck U, majors in lesbian poetry and can't repay his loan on his McDonald's assist. manager salary, the government should tell Fuck U, give us back the money we gave you to edumacate Bob, because you failed to hold up your end of the bargain. You didn't provide him with the skills needed to attain a job that pays enough.

If we did that, maybe schools would take a look at who they educate and what majors they offer.

But that will never happen. The educational industrial complex won't allow it.

So when do we get debt cancellation for business owners?

Take Billy who is a plumber. He doesn't have a school loan. He makes decent jack, but he needs to buy a 100K dollar work truck. That is his "educational expense" so to speak. How about we knock 10-20K off his note?

[Screw_Michigan]

Shouldn't you be busy seceding?

[smackaholic]

Shouldn't you be busy seceding?

Nope. I live in a blue shithole.

[Bill in Houston]

So when do we get debt cancellation for business owners?

https://www.sba.gov/funding-programs/lo ... on-program

PPP loans dummy. Where have you been the past three years?

[Sudden Sam]

My sons have struggled with their student debt, but they understand that if you borrow money, you repay it.

[Wolfman]

I went to college at atime when you could pay it off by working summers and part time w/o a need for any loans. i.e. my graduate studies cost $20 a credit hour. I also took a couple of College Proficiency Exams that totaled 24 undergrad hours. They cost me $35 each. Mrs.O and our kids all got college educations with small easily paid off loans.
Hey---- maybe I can get a rebate ??
Just kidding.

[Sudden Sam]

I pretty much CLEPed my way thru my freshman year.

Not sure how that relates to the topic, but I felt like bragging a little.

[Softball Bat]

I have an idea. How about we look at who actually received the loan, the educational institutions and let them repay it.

If Bob goes to Fuck U, majors in lesbian poetry and can't repay his loan on his McDonald's assist. manager salary, the government should tell Fuck U, give us back the money we gave you to edumacate Bob, because you failed to hold up your end of the bargain. You didn't provide him with the skills needed to attain a job that pays enough.

If we did that, maybe schools would take a look at who they educate and what majors they offer.

"Cancelling" student debt is ridiculous. It is a horrendous thing, and it is just another sign of the times.

The student signed an AGREEMENT when they took out their loan. No gun to the head.

Joe taxpayer, who had fvck all to do with the situation will end up being skrewed.

What about the students who scraped up the money to pay their tuition and/or student loans? Are they going to be reimbursed?
I know the answer is no. Why is it no?

Let the students/graduates file for bankruptcy if they can't make it. That is REALITY. Don't be such a dumbfvck in the future.

Why are we rewarding stupidty/incompetence?


The student(s) who took the loans are the ones who obviously need to be fully responsible for the choice they made.
Period.

[Sudden Sam]

^RACK^

This administration continues its policy of encouraging irresponsibility.

[smackaholic]

So when do we get debt cancellation for business owners?

https://www.sba.gov/funding-programs/lo ... on-program

PPP loans dummy. Where have you been the past three years?

And I was against those too, although one can make a better case for those.

What are your thoughts on having schools dig into their endowments?


Sent from my iPhone using Tapatalk

[Sudden Sam]

They'll end up shitting in the streets for christ's sakes!

Ooooh,yes. Bring back Freaknik.

Sin,
Kierland

[Kierland]

Is there ever a moment when you aren’t thinking of me?

[Sudden Sam]

Is there ever a moment when you aren’t thinking of me?

Certain words trigger thoughts of you. In this case, “shit” did it.

[Kierland]

Yeah you’re not fat and melty.

[mvscal]

I have an idea. How about we look at who actually received the loan, the educational institutions and let them repay it.

If Bob goes to Fuck U, majors in lesbian poetry and can't repay his loan on his McDonald's assist. manager salary, the government should tell Fuck U, give us back the money we gave you to edumacate Bob, because you failed to hold up your end of the bargain. You didn't provide him with the skills needed to attain a job that pays enough.

If we did that, maybe schools would take a look at who they educate and what majors they offer.

Gosh. That sounds a lot like accountability!

[Kierland]

Because everything is transactional with you rapacious fucks.

[Bill in Houston]

What are your thoughts on having schools dig into their endowments?

Oh well gosh-be-golly them libertarians tell me they aughta be able to do whatever they wants to do wit ‘em.

[Bill in Houston]

https://www.sba.gov/funding-programs/lo ... on-program

PPP loans dummy. Where have you been the past three years?

And I was against those too, although one can make a better case for those.

What are your thoughts on having schools dig into their endowments?


Sent from my iPhone using Tapatalk

You are 100% correct.
You can ALWAYS make a better case for bailing out large corporations because the population as a whole, depends upon them for their daily lives.
If wal-mart suddenly closed it's doors, where the fuck are the dirtbags gonna get toiletries?
They'll end up shitting in the streets for christ's sakes!

Large corps and not the small “mom and pop” shops? Now you’re all for sucking big Corp Dick? Got it.

I thought Qtards were generally for the local neighborhood entrepreneurs. Now I see you swing from the mega-Corp sack.

Never mind large corps were not eligible for PPP. But don’t let facts, reality, or anything sensible get in your way of your AI drivel.

[smackaholic]

What are your thoughts on having schools dig into their endowments?

Oh well gosh-be-golly them libertarians tell me they aughta be able to do whatever they wants to do wit ‘em.

A libertarian believes in contracts and accountability.

You borrow money, it's your job to pay it back. You take money to provide a service, you should provide the service. If a school accepts 100K dollars to educate a person so they can increase their income and they repeatedly fail at doing it, they should be held accountable.

As I have already said, this isn't debt cancelation. It is debt transfer. Given this fact, one needs to then address the question of whom the debt gets transferred to. Should it be to you and me who had nothing to do with this contract or should it be transferred to the party that failed to live up to the terms of the contract?

[smackaholic]

Because everything is transactional with you rapacious fucks.

No, everything is not transactional. This is.

[Sven Golly]

Cancelling debt violates contractual agreements. There are bond holders on the other side of the debt.

[Bill in Houston]

What are your thoughts on having schools dig into their endowments?

Oh well gosh-be-golly them libertarians tell me they aughta be able to do whatever they wants to do wit ‘em.

A libertarian believes in contracts and accountability.

You borrow money, it's your job to pay it back. You take money to provide a service, you should provide the service. If a school accepts 100K dollars to educate a person so they can increase their income and they repeatedly fail at doing it, they should be held accountable.

As I have already said, this isn't debt cancelation. It is debt transfer. Given this fact, one needs to then address the question of whom the debt gets transferred to. Should it be to you and me who had nothing to do with this contract or should it be transferred to the party that failed to live up to the terms of the contract?

The endowment isn’t part of the contract dummy.

You should just quit now. Or continue and get your ass kicked more.

[Bill in Houston]

Cancelling debt violates contractual agreements. There are bond holders on the other side of the debt.

Bond holders won’t suffer anything.

You and Suckaholic should put your brains together and…. Still be idiots.

[Sven Golly]

OK, Einstein, so when assets that back a stream of cash flows just vanishes, no one is hurt by that?

Take Business 101 you dumb fuckstick

[Bill in Houston]

Do you know anything about Biden’s proposal?

Well, do you know anything at all would be a better question.

It’s not all student debt that is eligible.

Bond holders won’t suffer.

[mvscal]

Do you know anything about Biden’s proposal?

I know that his handlers lack the authority to issue and that it's DOA before SCOTUS.

I think that about covers it.

[Kierland]

Do you know anything about Biden’s proposal?

I know that his handlers lack the authority to issue and that it's DOA before SCOTUS.

I think that about covers it.

Actually the Heroes Act that passed with one no vote in House and zero no votes in the Senate about covers it. Go back to being a racist Nazi fuck because reading laws is not your strong suit you yellow flyover ginger fuck.

[Kierland]

Cancelling debt violates contractual agreements. There are bond holders on the other side of the debt.

What you know about Ks wouldn’t fill a thimble, which coincidentally is the same thing that could be said about your brain.

[Mikey]

Let the students/graduates file for bankruptcy if they can't make it. That is REALITY. Don't be such a dumbfvck in the future.

Most people who have debts that they can't pay off have the option to declare bankruptcy. Debts that can be discharged include credit card debt, personal loans, medical debt and other consumer debts. Secured debts like mortgage and car payment can also be discharged if you are current on your payments. Student debt is among the debts that can't be discharged in bankruptcy. Others include taxes, child support, personal injury debts, criminal restitution and others.

I'm not sure why student debt is in the second category but until that is changed I think Biden's proposal is perfectly sensible. Why should people making bad spending decisions have more protection than folks who can't pay back their student loans? Aren't these equivalent to other personal loans, secured or unsecured?

[Diego in Seattle]

[Bill in Houston]

OK, Einstein, so when assets that back a stream of cash flows just vanishes, no one is hurt by that?

Take Business 101 you dumb fuckstick

The gubment cancels the debt because the gubment PAYS the debt.

I’m sure that’s still over your head. But I can’t help it you’re that dumb.

No bond holder loss.

A bond holder loss is what poptard proposes.

How’s that Business For Dummies book going for you?

[smackaholic]

The endowment isn’t part of the contract dummy.

Nor are the tax payers.

The contract says that money will be loaned out for the express purpose of receiving an education. The largest part of this money goes to a school who is supposed to provide an education and make the person marketable in the job market.

So, they are very much a part of this system. And if they have a little skin in this game, maybe they'll do their fukking job better.

Markets work, when they are actual markets. As wolfie said, back in the dark ages, college was affordable. This is partly because there weren't that many people going.

Then the gubmint decided every one should go and they started handing out guaranteed loans to anyone with a pulse. Also, their baby boomer parents were wealthy enough to hand over more as they all bought into the fallacy that the only way to get ahead in life is to go to college.

I will admit that going to college is a very good thing for those that will get a decent education and put it to use. But there are far to many going to college who have no business doing so because they either don't have the brains or aren't serious about putting in the effort. I know of what I speak. I see that dude in the mirror every morning. I double secret probationed myself out of UConn school of engineering in one year.

Fortunately I commuted to the W. Hartford branch and tuition was still reasonable, so my gramps was only out a few bucks. I then joined the Navy as I should have right out of high school, got a fairly decent education there and have managed to remain gainfully employed ever since.

[smackaholic]

Cancelling debt violates contractual agreements. There are bond holders on the other side of the debt.

Bond holders won’t suffer anything.

You and Suckaholic should put your brains together and…. Still be idiots.

Then who the fukk will?

A debt is owed. When that debt is cancelled the party expecting to collect on said debt suffer.

That party is you and me, the tax payer.

Actually, that isn't quite right, it's out grandkids.

[Donnie Baker's Ghost]

The gubment cancels the debt because the gubment PAYS the debt.

Where does the government get its money?

Take your time. Think it through. Use scratch paper as needed.

[smackaholic]

The gubment cancels the debt because the gubment PAYS the debt.

Where does the government get its money?

Take your time. Think it through. Use scratch paper as needed.

It used to be the printing press. Nowadays they just shift a decimal point or two down at treasury. Piece of cake. FIAT currency always fixes things. Just ask Weimar Germany.

[Bill in Houston]

Cancelling debt violates contractual agreements. There are bond holders on the other side of the debt.

Bond holders won’t suffer anything.

You and Suckaholic should put your brains together and…. Still be idiots.

Then who the fukk will?

A debt is owed. When that debt is cancelled the party expecting to collect on said debt suffer.

That party is you and me, the tax payer.

Actually, that isn't quite right, it's out grandkids.

So you believe taxpayers and bond holders are the same? Of course they could be, but do you even know what a bond holder is? Do you know what a bond is?

[Bill in Houston]

The endowment isn’t part of the contract dummy.

Nor are the tax payers.

The contract says that money will be loaned out for the express purpose of receiving an education. The largest part of this money goes to a school who is supposed to provide an education and make the person marketable in the job market.

So, they are very much a part of this system. And if they have a little skin in this game, maybe they'll do their fukking job better.

Markets work, when they are actual markets. As wolfie said, back in the dark ages, college was affordable. This is partly because there weren't that many people going.

Then the gubmint decided every one should go and they started handing out guaranteed loans to anyone with a pulse. Also, their baby boomer parents were wealthy enough to hand over more as they all bought into the fallacy that the only way to get ahead in life is to go to college.

I will admit that going to college is a very good thing for those that will get a decent education and put it to use. But there are far to many going to college who have no business doing so because they either don't have the brains or aren't serious about putting in the effort. I know of what I speak. I see that dude in the mirror every morning. I double secret probationed myself out of UConn school of engineering in one year.

Fortunately I commuted to the W. Hartford branch and tuition was still reasonable, so my gramps was only out a few bucks. I then joined the Navy as I should have right out of high school, got a fairly decent education there and have managed to remain gainfully employed ever since.

You do understand that universities and endowments are separate entities? Right?

So you advocate arbitrarily taking funds from the endowment, which isn’t engaged in teaching, and pay for the debt. Hmm seems rather arbitrary to just take money because some entity has money.

[Bill in Houston]

The gubment cancels the debt because the gubment PAYS the debt.

Where does the government get its money?

Take your time. Think it through. Use scratch paper as needed.

Are you agreeing with Dr. Dipshit 101 that it’s from bond holders?

The government cancels the debt AND carries the cost. It’s not some loss to bond holders like Shrunken Gonads and you believe it is.

[Donnie Baker's Ghost]

The gubment cancels the debt because the gubment PAYS the debt.

Where does the government get its money?

Take your time. Think it through. Use scratch paper as needed.

Are you agreeing with Dr. Dipshit 101 that it’s from bond holders?

The government cancels the debt AND carries the cost. It’s not some loss to bond holders like Shrunken Gonads and you believe it is.

Stay focused for a minute, Bill. I am asking YOU where the government gets money. Go.

[smackaholic]

So you believe taxpayers and bond holders are the same? Of course they could be, but do you even know what a bond holder is? Do you know what a bond is?

I guess when you can't debate the topic at hand, you go to the semantics card.

I'm no finance guru, but I do have a basic understanding of things. A bond is essentially a loan. This loan is made to a party for an express purpose. It has a prescribed method of repayment. A student loan may not meet the official definition of bond, but, that's basically what it is.

A bond holder is the party that puts up the money. When the government makes a student loan, a "bond", it is doing so with money from the treasury. This money comes from either the tax payer directly or as is becoming more common, it is just pulled out of thin air. And when that is done, it dilutes the value of money.

So, no matter which method is used, the taxpayer is the "bond holder".

But go ahead and play your fukking semantic games and call 'bode like your little friend queerland, if it makes you happy.

As for endowments, once again, we can play semantical bullshit games, but, the endowment is where the money is. And it is in the interest of whomever the fukk is actually holding the endowment check book to see to it that the associated educational institution do its fukking job. Accountability needs to be had somewhere and I can think of no better place to lay it than with these endowments.

Do you not agree that there should be some sort of incentive plan in place to get universities to do their damn job, which is to produce productive members of society?

It should be in all our interests. The trouble is leftist have a different goal. They need to crash the system to the point where we have fukking choice but to have government run everything.

Marx thought it would all just happen naturally. Everyone would see the successes of their utopian worker's paradise and willingly climb aboard.

Then the 20th century buttfukked his dream in the mouf. We saw what a socialist worker's paradise looked like in the USSR and China and numerous smaller versions. Every fukking last one was a nightmare.

But lefty is kinda stubborn. We'll get it right, once we stomp out those meddling capitalists. We failed at beating them economically, so we'll just burn them to the ground. And to their credit, they knew the best way to do it was to take over education. And trying to hold that education system to some sort of accountability gets in the way of burning it all down.