My friend posted a link to sign the Support The Student Loan Forgiveness Act of 2012

[samplegirl]

This was the reply she got from another friend: No way! I'm all for helping to fund public universities through my tax dollars but Ed and I worked our tails off to put our kids through school. They worked too and knew what it meant to live on a budget. I have nothing against student loans but that's exactly what they are; loans. If I borrow money, I know that I have to repay it and I do.The same should hold true to those that took out student loans.

Typical convenient virtue!



Chime in.........would like to know others opinions.

[BOHICA12]

1. Every loan is a gamble for the borrower and the lender.

It is also a promise from the borrower - the lender has already kept its promise by handing over the money. We can have an eons long discussion about education costs, loans that can't be discharged in bankruptcy, and the real value of this degree from that school versus that degree from this school. But, it boils down to how important you value your word and promise, and how important you view upholding a contract. It is a measure of your character and the character of our society.

[customerserviceguy]

2. Frankly, I agree with the response from the friend

Obligations mean something. Somebody borrows money with the expectation that the "education" it buys them will get them the job they need to pay it back. Poor choices often mean that it doesn't work out like they planned.

If student loans had to go through half the qualifications that banks want for business loans, we'd probably see only half of the students (or less) get them.

[samplegirl]

3. I guess I am not sure how I stand on this

at the moment.

[white_wolf]

4. No, we can't help out people who took out loans to better themselves and their community.

Why, if we did that we might not have as much money to bail out bankers who crash the economy. Seriously, its ridiculous hearing crap about obligation and responsibility after we've spent billions bailing out bankers, how about we help the people who actually deserve for a change instead of playing the responsibility card on them and only them. Besides, as I've said before any country that can spend 2 billion dollars a week on war should be able to send every adult in the country to a public university if the wish to attend.

[truedelphi]

6. + 1. n/t

[libtodeath]

5. When the playing field is truly level

then it wont matter but until then a bill of goods has been sold to kids and after years of college the truth is that the "american dream" is a myth.
The so called covenant is too one sided so in the name of fairness there should be something done.

Also without that crushing burden monies could be spent on homes,cars etc,things that would put people back to work producing.

[truedelphi]

8. Exactly. And many people took out loans when the economy was good.

Now they have deferments on those loans, but the interest is still building away.

There are still three or four applicants for every job out there. and a big part of the problem is how many of our major corporations are not making anything here in the USA. Even "Apple" (an American company if ever there was one), now employs the slave laborers of China to build the physical side of their creations.

[Juneboarder]

17. 3 or 4 applicants for every job out there???

You must be one of the lucky ones not having to go out on interviews recently. The last interview I went on was off an ad on Craigslist, and they told me they have already interviewed over 50 applicants. This is not taking into consideration the number of resumes they received...

[truedelphi]

31. Hi Juneboarder. I will definitely take your word for it

Right now I am one of the lucky ones. I survive because of a small business that after ten long years of hard work finally has started to semi-flourish.

I am only reciting very conservative figures because other wise I'll get some wise a.. who'll be quoting the Mainstream "Liberal" media with the three or four applicant story.

Good luck. And remember, though it would take a total miracle to change the course of the economy, you only need that one job offer. It's possible for you to do that.

I think being a part of various groups, like AA or attending a church, etc are good ideas till you land a job. Craigslist has too many people eye balling it. You need to get the inside skinny on who is hiring. (If you are uncomfortable with attending AA if you are not an alcoholic, there are similar groups - one such group is for adult kids from dysfunctional families, which pretty much includes all of us.)

[Juneboarder]

37. Thank you for the input :)

I agree with you in that CL has a lot of views. I am currently still employed, which I am highly thankful for; however business has been slowing down for several years now.

I never gave much thought to joining groups like AA, but I am networked in my local community and feel it's not necessarily what you know, but who you know that will land you a decent job. Now, if I could just meet Smoky the Bear so I can land me a job in a local park setting...

[truedelphi]

39. I meet up with Smoky the

Bear quite a lot - unfortunately he is the California Highway Patrol version and not the one you need to meet.

Should I meet up with the guy you want, I'll direct him to you user id and Private message system here at DU.

[Lucky Luciano]

7. Last year I paid a $50k lumpsum to kill my debt.

Can I get a rebate?

[white_wolf]

9. You gotta love rugged indivdualism.

"I got mine, screw everyone else." It's great that you could afford to pay off your debt, but guess what, there are thousands of college graduates who are now unemployed due to no fault of their own. In fact, the people whose fault it is did get bailed out and are doing better than ever.

[Lucky Luciano]

13. I am not opposed if interest

Is forgiven while people remain underemployed. Principal reduction would make me feel like a chump though.

[just1voice]

35. Sounds like you work for a bank?

Likely GS. Any comment on the recent letter about GS and how it describes all it's employees?

[Lucky Luciano]

40. I used to work for a bank, but miles away from loans or trading loans.

I have since moved on because working for a bank sucks. I went to a smaller much more nimble company.

[Juneboarder]

18. Would they truly be considered unemployed?

We wouldn't count them in our unemployment numbers... I would venture to say they're either underemployed or simply not working. It's sickening to see the amount of educated people out there without jobs or working as an over-qualified employee.

I'm all for helping out the students with the student debt forgiveness. Yes, I had the opportunity and financing a college education and opted out of it - my decision. That doesn't change my opinion on helping those that are in need out, and I am with you WhiteWolf... we need to stop focusing on these banks and focus on our people.

[white_wolf]

41. As to your first paragraph.

That's why I think our unemployment numbers are bullshit, because there are a lot of people who aren't counted in official stats for various reasons. I've heard the actual unemployment numbers are around 15%, but that was last year it may have changed.

[Juneboarder]

44. Yes..

it's all truly manipulated by TPTB to look like things are getting better. Band-aid.

[naughty nina]

25. But you don't see that you HAD 50K to blow at once?

How did you come into that moola in the first place?

[just1voice]

34. Who doesn't have 10s of 1000s just laying around? LOL

I mean any recent college grad, except for the 85% whom don't even have a job and have to move back to their parents house, has got great big piles of cash just laying around. Weeeeeeeeeeee!

[Lucky Luciano]

42. Would have preferred to spend that

on a car, parking, and an upgrade to a two bedroom apartment.

[abelenkpe]

10. Students today have much more debt and no job prospects

due to the global economic collapse. They should be freed from their debt. I'd rather bail out a student who educated themselves than a banker who gambled and lost. I'd rather bail out a student than someone who ran up tons of credit card debt and then declared bankruptcy. I'd rather bail out a student than a corporation.

[Fla_Democrat]

11. Just heard a rant by Dave Ramsey the other night..

Something about student loan debt. Quite entertaining.

[Prometheus Bound]

12. Depends how it is presented.

1. Are you willing to have $10,000 dollars added to your tax bill so that student loans can be cancelled?

2. Would you like the country's foreign military bases closed down so that student loans can be forgiven?

[Snake Alchemist]

14. Will they refund me the money I've already paid? nt

[EnviroBat]

15. Student loans should be interest free.

I didn't earn any interest while I was a student, or much of an income for that matter. My student loan balance is almost 10k more than I originally borrowed, and I was not able to finish college due to health issues. Then when I realized just what the draconian repayment structure was going to be, I never borrowed another dime to go back to school. Now I'm saddled with a $250.00/month payment which isn't horrible, but I certainly could be doming something else with that money every month. For me the repayment isn't too painful, but for many, it's damn-near impossible. How about allowing people to work it off for a couple of years in a public service job? How about 0% interest, so that the loan balance isn't constantly climbing while people are struggling to find work and have a forbearance?

[Snake Alchemist]

16. What would be the incentive to loan money? nt

[woo me with science]

19. Private banks should have no involvement.

The government has a clear interest in funding the development of a well-educated citizenry.

Unless that government is purchased and its money supply managed by private banks and corporations who seek marginally educated drones to run in their hamster wheels.

[Snake Alchemist]

20. So it would be similar to taxes then. Would you go to jail for loan evasion if you do not pay? nt

[woo me with science]

21. Go to jail for "loan evasion"?

[Snake Alchemist]

22. That or wage garnishment. nt

[woo me with science]

23. You're being a little cryptic here.

What exactly is "loan evasion," and how would someone be prosecuted for it?

[Snake Alchemist]

27. Similar to tax evasion. Generally the government does 1 of 2 things when you owe them money.

Either put you in jail or garnish your wages.

[woo me with science]

29. Only if you default.

Government student loans are much more flexible when it comes to repayment than private loans. They have significantly lower interest rates, too.

[Snake Alchemist]

30. Yes, but if it was zero interest then there would have to be penalties similar to taxes. nt

[sudopod]

26. Government? Taxes?! OH NOES! :P nt

[Snake Alchemist]

28. It's actually a decent idea, but to think that the government is going to loan money without penalty

is naive.

[woo me with science]

32. Are you referencing someone else's post?

"...to think that the government is going to loan money without penalty is naive."

I said private banks should be out of the mix. Whose post are you referencing here?

I would love to see fully funded government education, and there are certainly ways to do that. I agree with you that we won't get it anytime soon. However, even with the setup we have, government loans are much more flexible with repayment than private banks, and the interest tends to be significantly lower, too. There is no garnishment unless you default, and the government so far is extremely flexible - much more flexible than private banks - about finding ways for you to avoid default. I fully expect that to change, though, if we keep electing neoDemocrats with Republican economic goals.

[Snake Alchemist]

33. The IRS is extremely flexible too.

They will bend over backwards trying to put you on some sort of payment program since what they really want is the money.

I just do not think it would be much different whether it was private of gov't. They'll still be interest and penalties and the gov't has even more authority to come after you.

What we really need is a federal education system which pays for school as long as you go and pass exams.

[Cestode]

24. I did not choose the socio-economic class I was born into.

My parents were super broke when I was born.
In my opinion, they very much weren't ready to have children.
My dad left my mom, my mom and I lived off social assistance and handouts from a local church.

Needless to say, my parents DID NOT have the money to pay for my education.
I had to take out student loans to pay my way through university. I could have worked and saved money for school, but given the economic situations, opportunities I had and the types of jobs I could get it, would have taken me about a decade to pay for it all.
I chose a loan.

5 years later I have a great career, I'm paying my loans off in a timely manner. I make decent income and I am paying a decent amount of taxes to my government (Canada).

I am happy.

But I did NOT really have a choice in getting a loan. It was that or work retail all my life or something like that (No offence to retail workers, sry)

WE DO NOT CHOSE WHICH FAMILY WE ARE BORN INTO.

Those of us that have loans are at a disadvantage, those of us who had school paid for us or were blessed with fantastic job opportunities in which we could pay for own education are at an advantage.

Why should I be penalized with large debt payments because of factors that were largely out of my control?

I agree with student loan debt reduction.

n/t

[DiverDave]

36. Uh-huh, and what about the scam schools?

I went to such and I took out a student loan.
I NEVER got a permanent job, none of the people I went to school with worked for more than 2 yrs in the field.
The school didnt teach enough to get anyone hired, unless you where in the right place at the right time.
I am driving a truck (well after my shoulder surgery I'll be back driving) not fixing computers.
Which all the glossy ads from the school promised us we would get upon completing the courses.
So, The government has plenty of complaints about the school, and the school does the right thing, right?
Are you high?, NO! they change their name and continue getting student loan money.

Yeah, I signed, but wasnt given a decent chance to earn enough to pay back my loans.
And, yeah I'm behind on my payments, but have been giving them as much as I can.

But I'M the DEADBEAT? Right?
I really dont think you have a clue what it's like to try and better yourself and get ripped off.

But, man, your self righteousness is blinding.
I'm GLAD for you, you have money, and you look down on ME...pretty progressive, no?

Bah, I've wasted enough time trying to explain anything about REAL life to you.

[woo me with science]

38. The scam schools are a huge problem. You're exactly right. nt

[Logical]

43. Why do we need to forgive student loans? Fraud? I do not understand!

[LanternWaste]

45. I paid off my college loan, but would have zero problem with debt forgiveness

I paid off my college loan, but would have zero problem with debt forgiveness-- especially in this economic climate.

I suppose I could petulantly ask, "since I paid it off, do I get it back...?", but as I don't consider myself to be greedy or self-serving, and since I don't predicate the actions of myself on others (nor predicate the actions of others on myself), and as I realize that eduction is one of the best investments a country can make in itself, I don't think I could begrudge anyone this particular form of help.

[HappyMe]

46. A loan is a loan.

It must be paid back.

[DiverDave]

47. Oh and thanks for the info, I signed

the petition to get it passed.
Sorta backfired, huh?
lol