1ºI Invested in my business with my own money and also on credit. I pay back my business loans and am not in the least bit upset about it. People who took out college loans and complain later probably told themselves "I'm investing in my self". Should the government wipe out my business loans? I mean if we are wiping peoples debt. I was only trying to better myself after all. (isn't that what they say).
Y'all just don't want to admit that it was a bad investment unless you are pursuing a degree that makes you a lot of money.
2ºCollege administrators and loan companies are like the old car salesmen of the past. You don't have to be smart or from a wealthy family to get into college it's all about the money. Dude these are teenagers or slightly above like in my case that was sold a degree with the ideal that was told with the best possible outcome not the truth which would be yeah your probably are only going to be lower middle class at best but more like upper broke class. If you have kids and family to support chances are your living check to check with little in between and your kill yourself just to get past the interest in onto the principal. Then they tell you hey youngsters worry about that loan dont sweet if you continue to the next degree we're postpone your payments. Btw that degree in the market will either not be around or in critical position or over saturation and ect.
I myself went to culinary school back around 15 or 16 years ago. Only private universities had those programs not community colleges or state colleges so I paid a premium. I'm 80k in debt with taxes and don't even have a bachelor's degree because it would had been 35k more onto my principal. They forgot to mention unless your extremely good or have the money to travel to do apprenticeships your going to be working 80hrs a week just to be considered middle class and oh shocker now Covid is a thing forget about it let's be honest. I also was a dad at an early age as well. So like my first 8 years after school I was making 10 per hr cooking would had been 13ish if I became the manager. Checks were 430 per two weeks.
All I'm saying the struggles are real. Not everyone is lucky enough or made better decisions to be able to pay back something that doesn't pay a living bill like rent and utilities or the necessary things for raising a kid.
3ºI just love how all these people driving on "free" roads and sending their kids to "free" K-12 and reading books at "free" libraries and calling the fire department for "free" when their house is on fire and depending on the police for "free" when they need them (I could go on all day)... don't have the mental capacity to grasp how a "free" college education could be beneficial to our society as a whole. Understand the concept of predatory lending or stay out of the conversation. You all sound ridiculous with your ignorance. Over 600 BILLION dollars in loans were just forgiven this past year for corporations that took out PPP loans (notice it says LOAN) and yet no one batted an eye.
4ºEveryone here who doesn’t understand that the company was sued for predatory behavior and settled obviously needs to understand that the company who has been making a gross amount of money off of borrowers is the entity “paying” for these loans.
These comments saying “well who is going to actually be paying this?” - insinuating that it’ll be taxes or something. You are wrong. Navient is a private loan servicer and the loans in question are subprime private loans. THEY will be handling this.
If the government decides to give the big corporation another subsidy or tax break or what have you, that isn’t on a middle-working-lower class borrower who can’t make their payments. That is on our lawmakers.
5ºHere’s where it gets tricky—after being saddle bagged with life long student loans, it does open doors for you for a better paying job—take myself—a forty something with no kids—I have a decent job and pay roughly $6000 a year in federal taxes alone—my degree helped me make that much to pay that much in—if I didn’t go to college, I wouldn’t have as good of a job—(though some people without college probably make more than me) but I also don’t have any kids and I’m in my 40’s. I prob won’t have kids at this point—so, in an 18 year timespan, someone that chose to be a breeder can get an eitc, ctc, and get thousands back, but a person that pays $6k in a year during that same 18 year period are mooches? It’s about $150000 difference in the 18 years—forgive my loans—I pay so much more in for bettering myself and never feeling I could properly afford a kid. #forgivemy35000
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