Student Loan Forgiveness is Set to Expire: This is Going to be Painful for Many!

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fskimospy

Elite Member
Mar 10, 2006
83,973
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And you don't get to keep the car and your credit takes a hit so you can't borrow again for quite some time.
So we agree that student loans can't be discharged like other loans. Right?
Maybe not issue the diploma/degree until the loan is fully paid off?
Why would a situation where everyone knows you have completed a degree but we don't issue a diploma until 20 years later based on finances help society?
 
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HomerJS

Lifer
Feb 6, 2002
36,044
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I notice SCOTUS timed the release of rulings that will fuck people over as close to the weekend as possible.
 

fskimospy

Elite Member
Mar 10, 2006
83,973
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Is that actually true anymore? (Disclaimer: I know nothing about bankruptcy law or proceedings)

It is true that it is technically possible to discharge student loans in bankruptcy but it is very difficult. Far, far more difficult than any other type of loan.
 
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Pohemi

Diamond Member
Oct 2, 2004
8,798
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^^ So I can stop paying my credit cards?

I can buy a new car, take out a loan and not pay for it?
fskimo already answered this, but yes, you can. Bankruptcy.
Change the way colleges are funded and dramatically reduce tuitions so students don't need massive loans.
Okay. I don't disagree with this, but tell me: what's the difference between the government funding the colleges, and funding student loans to attend those colleges?

Because "changing the way colleges are funded" only happens one way, and that's government subsidization. Colleges aren't going to be funded by bake sales.
 

fskimospy

Elite Member
Mar 10, 2006
83,973
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If somebody ever comes up with a good explanation of why you can't discharge student debt in bankruptcy like all other debt I'll listen to it. Haven't heard anything remotely convincing yet.
The argument is that people would go to medical school and rack up a half million in loans and then declare bankruptcy. You can't repossess the degree in any meaningful sense.

This is of course why student loans shouldn't exist in the first place.
 

K1052

Elite Member
Aug 21, 2003
46,026
32,998
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If the loans were dischargeable nobody would write them and colleges/the government would have to fix higher ed costs instead of ripping off the younger generations as the boomers decided to do.
 

K1052

Elite Member
Aug 21, 2003
46,026
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The argument is that people would go to medical school and rack up a half million in loans and then declare bankruptcy. You can't repossess the degree in any meaningful sense.

This is of course why student loans shouldn't exist in the first place.

That its costs a half million to go to medical school in the first place is what the people who are pro-loan don't want to talk about.
 

fskimospy

Elite Member
Mar 10, 2006
83,973
47,877
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That its costs a half million to go to medical school in the first place is what the people who are pro-loan don't want to talk about.
This is another issue - increased government subsidies for education is just driving up prices.

What we should do is eliminate student loans and then expand public education and make it low cost or free. If people still want to pay $200k to go to NYU then they can finance it themselves.

I got my undergrad degree from UCSD for about $6k a year. NYU grad school was $40k a year. UCSD was a way better school.
 

UNCjigga

Lifer
Dec 12, 2000
24,810
9,015
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Student loans are basically how a bunch of greedy bankers figured out how to sell mortgages on the American Dream. The federal government came in and created loan programs that were supposed to be fair for borrowers, but private servicers still found umpteen ways to screw people over and of course tuition costs have spiraled out of control.
 

Sunburn74

Diamond Member
Oct 5, 2009
5,027
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You get what you vote (or fail to vote for). Lots of people stayed home during trump Hillary. Then you lose the court. Then you get these sorts of rulings. Can't complain at this point.
 

nOOky

Platinum Member
Aug 17, 2004
2,833
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For people who are against expanding the court I genuinely wonder what their solution here would be. The court is rewriting huge swaths of US law based on nothing more than 'fuck you'.

Ask Biden, he is not in favor of expanding the SC as he feels that would politicize it. As if it isn't already.
 
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HomerJS

Lifer
Feb 6, 2002
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The fact that nobody who brought this case or the gay marriage website case was actually harmed (or even if anything at all happened) yet these things are serving as vehicles for SCOTUS to impose national policy is insane.

Legislating from the bench. Something conservatives have been against since forever. Of course, like anything else their principles are fungible.

If the court were to swing back to the left, they will alter their position yet again.
 
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fskimospy

Elite Member
Mar 10, 2006
83,973
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Ask Biden, he is not in favor of expanding the SC as he feels that would politicize it. As if it isn't already.
Well sure, but pressure has to be brought to bear on politicians who are against it and that involves converting lots of normals who are against expanding the court because of tradition or something.
 
Dec 10, 2005
24,050
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Ask Biden, he is not in favor of expanding the SC as he feels that would politicize it. As if it isn't already.
I don't blame Biden for not staking out this position. A lot of not Very Online people don't get the benefits of expanding the court - they just see the system as "fine" - so it's a kind of crappy public position to stake out.

Look at how many morons think bipartisanship is a good thing.
 
Nov 17, 2019
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fskimo already answered this, but yes, you can. Bankruptcy.

Okay. I don't disagree with this, but tell me: what's the difference between the government funding the colleges, and funding student loans to attend those colleges?

Because "changing the way colleges are funded" only happens one way, and that's government subsidization. Colleges aren't going to be funded by bake sales.
It would require an complete and certainly impossible full reconstruct of the system. It can't happen, but it needs to. Far too much money is going to salaries for Deans and other Administrators, fancy buildings and campuses and other things that do not accomplish the goal of teaching.. These schools need to be essentially 'not for profit'.
 
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Pens1566

Lifer
Oct 11, 2005
11,574
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He's probably confused as to why all these students don't have some billionaire pay for their education.

I'm just looking forward to the day Clarence writes the majority opinion striking down interracial marriages. Then goes home and remembers his cult member wife is white.
 
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Pohemi

Diamond Member
Oct 2, 2004
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You get what you vote (or fail to vote for)....
....Can't complain at this point.
I voted, just not for TwoScoops, and I sure as hell didn't want this SCOTUS.

It doesn't do any good without action, but I will certainly complain about it and feel justified in doing so.
 

fskimospy

Elite Member
Mar 10, 2006
83,973
47,877
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I'm just looking forward to the day Clarence writes the majority opinion striking down interracial marriages. Then goes home and remembers his cult member wife is white.
I tend to doubt they will do that. In the Dobbs decision the conservatives were very aware that their exact logic would apply to interracial marriage so they added in a part that said 'marriage is magical so this ruling doesn't apply to it'.
 
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UNCjigga

Lifer
Dec 12, 2000
24,810
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You get what you vote (or fail to vote for). Lots of people stayed home during trump Hillary. Then you lose the court. Then you get these sorts of rulings. Can't complain at this point.
Friendly reminder that Republicans haven’t actually won the popular vote in nearly 20 years, yet have engineered this SCOTUS with horrifying precision.
 

K1052

Elite Member
Aug 21, 2003
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I don't blame Biden for not staking out this position. A lot of not Very Online people don't get the benefits of expanding the court - they just see the system as "fine" - so it's a kind of crappy public position to stake out.

Look at how many morons think bipartisanship is a good thing.

I'm thinking Gen Z's view on "bipartisanship" and especially the Supreme Court is going to be a little different based on their lived experiences. This court is definitely not going to stop doing stuff they really don't like either.

Generational turnover is coming, eventually, to the Congress and the presidency. Might take a bit to arrive but it's as sure as the tide going in and out.