You comment betrays your ignorance on this topic. This is, and really was never a "bad borrower" question. We are looking at the slow motion evaporation of the worst big-government lending scam in the history of this country. The borrowers have not changed significantly since the 1970's. What has changed is the lending system, and the…
You comment betrays your ignorance on this topic. This is, and really was never a "bad borrower" question. We are looking at the slow motion evaporation of the worst big-government lending scam in the history of this country. The borrowers have not changed significantly since the 1970's. What has changed is the lending system, and the prices that the colleges now charge. When 80% of all borrowers were either unable to make payments, or were paying, but their loan balances were going up, this is a catastrophically failed lending system. You sitting on your perch, looking down your nose and wagging your judgemental fingers at the innocent victims of this vicious lending scam has absolutely zero value. Frankly, it is an embarassing thing for you.
Your comment betrays your ignorance on this topic. There was ALWAYS a “bad borrower” question. Of course there is a lending scam, but it is one played against the American taxpayer. Once the Feds got involved, they NEVER underwrote the loans. They never looked at the quality of the courses that the borrower was taking and whether it would lead to a degree that made the borrower employable. They never required a parental guarantee which not only would provide credit support, but would also provide some oversight regarding the courses and degrees the borrower would pursue. And on top of all that, they loaned at preferential interest rates relative to the quality of the credit - a deep discount. More of the welfare state. You’re sitting on your perch, looking at hard working people who played by the rules, took on debt and paid it or avoided it by working their way through school and you wag your judgements fingers at the innocent taxpayers who are already paying for a ton of handouts already and want to lay more on top of them has absolutely zero value. Frankly, your left wing gimme gimme gimme attitude is an embarrassing thing for you.
You comment betrays your ignorance on this topic. This is, and really was never a "bad borrower" question. We are looking at the slow motion evaporation of the worst big-government lending scam in the history of this country. The borrowers have not changed significantly since the 1970's. What has changed is the lending system, and the prices that the colleges now charge. When 80% of all borrowers were either unable to make payments, or were paying, but their loan balances were going up, this is a catastrophically failed lending system. You sitting on your perch, looking down your nose and wagging your judgemental fingers at the innocent victims of this vicious lending scam has absolutely zero value. Frankly, it is an embarassing thing for you.
Your comment betrays your ignorance on this topic. There was ALWAYS a “bad borrower” question. Of course there is a lending scam, but it is one played against the American taxpayer. Once the Feds got involved, they NEVER underwrote the loans. They never looked at the quality of the courses that the borrower was taking and whether it would lead to a degree that made the borrower employable. They never required a parental guarantee which not only would provide credit support, but would also provide some oversight regarding the courses and degrees the borrower would pursue. And on top of all that, they loaned at preferential interest rates relative to the quality of the credit - a deep discount. More of the welfare state. You’re sitting on your perch, looking at hard working people who played by the rules, took on debt and paid it or avoided it by working their way through school and you wag your judgements fingers at the innocent taxpayers who are already paying for a ton of handouts already and want to lay more on top of them has absolutely zero value. Frankly, your left wing gimme gimme gimme attitude is an embarrassing thing for you.