Comments
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@I Are Lebo, I thought bankruptcy cleared all your debts but if u file for bankruptcy u still have to pay back student loan? And how do they expect u to do that if you’re bankrupt?
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@bobbylupo, they don't clear student loans. If you go broke they'll usually come after your cosigner. Same thing happens if you die before paying it off.
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@bobbylupo, if you still owe when you retire they’ll yank it from your SSI. Don’t sign up for student loans unless you have no other options, only borrow what you need & get out from under them as soon as you can
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@I Are Lebo, unlike a house or car, you can’t repo an education so it has to be paid back.
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@bobbylupo, government has created laws to make it near impossible to declare bankruptcy on student loans. The best way of clearing student loan debt is to pay it off or get a huge line of credit and use that to pay off debt then declare bankruptcy. Its a pretty strong job at the middle and lower class.
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@Implicit88, except if you have outstanding student loan debt, they don’t give you that loan/credit unless you have a co-signer, and maybe not even then. You end up having to borrow from family and then the whole family gets to partake in the most American of pastimes: generational poverty!
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And you wonder why tuition has increased 300% faster than the rest of the economy for the last 40 years?
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I pretty sure they don’t want u to ever be able to pay it back so they can bury u in debt and squeeze u for all u got and then take your house back
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Maybe we should get rid of regulations and funding. That only encourages these situations
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Not quite on the subject but I will say it anyway. Unpopular opinion: most jobs should not require a college education and self taught should be considered of more account than it currently is.
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@G1ngerB0y, I agree that schooling is not the best form of education for every field. Self-taught is a silly concept for me, though, because somebody taught you how to read and write so that you can learn from books other people wrote - especially as a distance education student, self-taught is not actually possible. I think rather certain businesses should offer their own training in recognition of the fact that we become job ready only on the job, this can obviously cause issues of its own, but fields of work like 'plumbing' could greatly improve from such a system
The reason for this is because you can’t default on student loan debt, even via declaring bankruptcy. This isn’t accidental or incompetence. First step in creating a wage slave is getting them in permanent debt. r/antiwork