/biz/ - Business & Finance

Fixing the student debt crisis is as simple as this: make student debt dischargeable in bankruptcy.
Done. From the top down, academia in America is fixed.

>>52772571
No, the problem is you can't deny these loans. Loans should only be given to people on credit merit
>>52772531
you will pay it back, and you will be happy about it cucky

>>52772531
sorry goy but my $5M PPP loan stated that repayment was optional. your student at 7.5% interest compounding daily, however, does require repayment. and you can NEVER, EVER discharge it in bankruptcy. now i'm sorry but my hands are tied, it truly is outside of my control! a contract is a contract is a contract, and such.

>>52772531
You took out a loan little zoomer, so pay it back.
And you millennials need to stop wasting money on avocado toast and start spending on your student loan debt.

>>52772629
dont' forget the daily $7 coffee drinks too anon

>>52772531
Not my problem.
We shouldn’t forgive PPE loans either.
Debtcucks don’t deserve forgiveness.

>>52772571
this would basically be the end of college for 95% of students. they would not go, because no one would extend them credit in the first place. somebody with zero credit history being allowed to declare bankruptcy on their first ever loan, and it's five or six figures of principal? it simply cannot be done. only wealthy families where the parents co-sign would send even a single kid to college.
probably a good idea. universities should be bled dry for going woke. maybe kills two birds with one stone.

>>52772531
The government indoctrinates children to all go to overpriced universities which they provide loans for, its criminal really.

>>52773050
the problem is the government requires people to get these loans. You can't turn loan income people (renters) down

>>52772629

I love fucking cucked zoomers and it's fun to watch other people fuck them too.

>>52772571
If only

I think it's great that the under 30 crowd stood to benefit from this the most and boomers couldn't stand it even though we as a generation own less than any previous generation ever did and pushed back on it. I think it's also great that Congress isn't gonna do shit and hasn't done shit other than fund a bullshit who cares war because they have incriminating evidence on Biden's dealings.

You will pay my loans, and you will smile as you do so.

>>52773050
That’s a feature. If nobody’s issuing loans, universities will be forced to lower their prices until average people can afford to pay for it outright. This has the bonus side effect of absolutely gutting the useless departments everyone complains about

>You will pay my loans, and you will smile as you do so.

>>52772571
The degree should be discharged in the bankruptcy as well. All records of attendance sealed, and make it a felony to claim you went to college on a job application.

>>52772531
they will string the debt slaves until the younger generation no longer cares.
if theyounger gens arent going to college and taking student loan debt then the older gen drowing in forebearances and deferrments from school wont have enough steam.
they'll say exactly what you have been saying
"nope pay it back"
republicans will tdy to throw it in the dems faces causing more confusion.
then when the millenials try for ows 2.0 it will fizzle out within a week, becuase people will have been retrained to love their masters and hate lazy college students.

remember when the start of this millenia was kids camping out on wall street for months becuase bankers got bailed out but homeowners got foreclosed on and students still have debt.
now all we care about are fags,kikes,niggers,and trannys.
our collective hatred was channeled into a dude who was an israeli spy that would endulge rich and powerful pedophiles and sadists just so they can blackmail them and control them.
a dude who didnt kill himself.

before 9/11 hitler was right
after 9/11 we should have joined bin ladens jihad against american imperialism.

>>52773050
protip niggie nug
the fed still wants a cosinger when you get your student loans.
for the longest time you heard horror stories about parents saddleded with their childs student debt who killed themselves.

>>52773873
>most fit student debt holder

>>52772584
How many 18 year olds have credit merit unless their rich parents cosign?

>>52772531
>Here's what that means for borrowers
PAY YOUR DEBTS, those three words should be the entire content of that article but of course it is not

>>52774669
my debts are no longer my own.
mcdonalds ended up buying them in those credit default swaps.
i dont own my debt, i dont choose who i pay my debt back too, and my academic institution and my originial loan servicers (i have gone through 8) have changed ownership several times.

>>52773050
Retard detected, college tuition would plummet back to sustainable levels.

What’s going to be the next excuse to extend this? Or is there going to be a push by the media to blame this on the right because Supreme Court now means Trump?

>>52773050
That's not how any of this works.
>Introduce massive college spending bill
>Fund it with wealth tax
Done. You try to make it seem as if the way things are, are the only way they can ever be. But that's not true. Something has to give, and it's probably going to be the lamb and not the stone we're squeezing blood from. Chop chop.

>>52772531
Just make student debt dischargeable in bankruptcy. Risk free loan issuance with guaranteed returns is the very obvious problem in all of this.

>>52773873
I've got this exact same body type. 32 year old virgin.

>>52774776
This. Imagine all the retards out there who think that a $60k price tag for a bunch of useless lectures is normal.

>>52772531

PPE was passed by congress, the student loan forgiveness was an unconstitutional executive order. Are all the posters on here like 15 years old now?

>>52772571

Wrong.

- Step 1. End all government loans. Only private institutions can make loans.

- Step 2. Make it illegal to subsidize, or bailout any institutions involved in student loans.

- Step 3. Now you can make student loans dischargeable in bankruptcy.

Congratulations.

>>52774786

>>52772531
Congress voted for PPP lol. It was a democrat lead congress too. Those same democrats voted against your loan forgiveness, so Biden pretended to illegally implement it in hopes that you zoomers would get baited again. Seems like it worked.

Now pay back what you owe.

>>52775213
too bad we cant just start a war over it.

>>52772531

>>52773050
>this would basically be the end of college for 95% of students.

>>52772531
Universities are fucking bloated. Your 4 year degree is padded with useless general education garbage. My college, a top public school had a gamergate class. You read it right, a fucking class on gamergate.
You can get rid of 70 percent of staff in a university and it will run fine, just like twitter. Unfortunately, the government funds them to be lazy and useless

College is done for. Future students will only try and get in top 30 schools, not because of the "quality of education" lmao, but because of the alumni networking. All the other colleges will go bankrupt.

Then we can watch america decline into 3rd world country where everyone has high school diploma and rest of the world innovates.

idiocracy is playing out

>>52772629

>>52772531
U think like literal disgusting ape men
If that shit passes everyone will be indebted, if you weren't a NI----R lover with a reduced brain you would be asking for lower fees

>>52772571
Wasn't biden the one who made it non dischargeable because stemfag chads used to wrack up debt for their phd/med degree then make 6 figures lol

>>52777242
No, it started in the 60's and basically everyone in office since then has been involved.

>>52773358
Why is it anytime something would benefit anyone but boomers boomers always tie this shit up in court so nobody gets it

>>52777817
Jews

>>52773977
This is the way to balance it out but how do you enforce it? I doubt employers are bothering to contact schools to confirm attendance at all, and certainly not for second jobs and beyond.

>>52772531
>What about the boomers PPE loans though??
Wait, you though all those new IRS agents were just for crypto?

>>52772531
Those kids should stop being entitled and start saving money. No more avocado toast, no more yoga classes, no more new iPhone every year and no more Teslas.

Donkey fucking inbreds had full control of congress and the presidency for 2 years but uncle pedojoe waited until 2 weeks before election to muster his retarded zoomer horde to vote for something he knew he would never deliver.
Based uncle pedojoe just fucked zoomers in their gullible, retarded ass and i'm laughing as that zoomer anus twitches and prolapses.

You will pay that loan.
You will never own a house.
You will never breed.
You will pay for browns to replace you.

>>52772571
>Fixing the student debt crisis is as simple as this: make student debt dischargeable in bankruptcy.
THIS

Also the MAIN fucking problem is the GOVERNMENT providing these loans in the first place.
Wake the fuck up you fucking retards.

>>52773058
>The government indoctrinates children to all go to overpriced universities
No, they PAY students to go to these universities.
That's why it's so expensive.

>>52775078
this isn't a body type, it's an attitude.
Bootstraps, mate.

>t. regular sex haver

>>52784024
That might be one part of the solution. Somehow you'd need to have the correct incentives for all parties.

Not to give out loans for worthless degrees because of possible default. Then again it should not be possible to declare bankruptcy and then start working on a high salary.

Perhaps a loan that would only be paid back in full-time employment and earning over a certain amount.

>>52784306
>Perhaps a loan that would only be paid back in full-time employment and earning over a certain amount.
The government shouldn't be involved in student loads WHATSOEVER. Their involvement is the main reason why it's so expensive.
I hate democracy so fucking much.

>>52784359
Would it be better if they were private?

>>52784381
it would be better if the state was voluntary

>>52784381
Yes, the lenders would assess the ability of students to pay back loans rather than giving them out indiscriminately. $150k for a liberal arts degree? No way. $30k for an IT degree. Plausible.

Before the government started doing loans directly, they were providing a guarantee to the lender that they will get paid back from taxpayers even if the borrower can't. That created the same perverse incentive.

When kids don't have unlimited access to money, they will be less inclined to waste the time and money on useless degrees that provide no skills. Colleges will start to have to price their institution in accordance with the spending power of the students, thus drastically bringing down tuition costs. To provide a leaner, fairly-priced experience, the schools will also be forced to cut out a lot of the virtue signaling bullshit that destroys society.

>>52777454
biden worked tirelessly to support a bill that made it even more strict in 2005.