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Recursion

(56,582 posts)

6. It doesn't. Nobody wants $35K

Reply to Hoyt (Reply #5)

Thu Jul 4, 2019, 06:01 AM

Jul 2019

There's nobody sitting around waiting for $35K. The holder of the debt will destroy the $35K when they receive the payment. Lenders don't keep repayment of principal. The issue there is not the lender but the money supply.

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People need to understand how loans work [View all] Recursion Jul 2019 OP

Thank you canetoad Jul 2019 #1

my favorite quote on the subject rampartc Jul 2019 #2

I love that one (nt) Recursion Jul 2019 #3

K&R Control-Z Jul 2019 #4

So, where does the federal government get the $35,000 it likely guaranteed? Hoyt Jul 2019 #5

It doesn't. Nobody wants $35K Recursion Jul 2019 #6

So, Sanders/Warren's 2% wealth tax to cover forgiveness, isn't necessary? Nobody, wants the money. Hoyt Jul 2019 #10

Thank you very much for posting this! smirkymonkey Jul 2019 #7

So if I may ask. we can do it Jul 2019 #8

GREAT question: Federal debt works the opposite way Recursion Jul 2019 #9

So if the loan is a federal direct student loan from Dept of Education... mwooldri Jul 2019 #11