They want votes first of all. They are teaching all students w/loans to be irresponsible about their obligations. Not good!!!
That’s all if America 😂😂😂😂
I worked my way through college, chose a degree at which I could make money and my kids went to colleges where they got scholarships rather than expensive more prestigious schools where they were accepted. Silly us for having personal responsibility!
This is good
Walk away and leave us with the bill. Arghhhhhhh!
We need to find a way for schools to also have some accountability in this process. Maybe they would influence students to get degrees that can actually obtain a job! Stop letting people think they can have something for free!!
So they will become disenfranchaised citizens.
My god TheDemocrats encourage irresponsibility. It’s pathetic.
Do I get to keep my house ans car? If so, I am down.
Finally.
Good recipe for the next banking crisis.
Not unless government gets out of the student loan game. Now it would be just a backdoor to “free college”. Opposed. Get government out of lending period then you need no special rule. The regular rules would apply.
So what average joe taxpayer gets hit w/ the cost, I don’t think so! Those of us that went into trades shouldn’t be made to pay for those who couldn’t afford college but the gov gave them the money anyway. I shouldn’t have to pay for someone else’s mistakes!
Buying votes- won’t hurt them
Not smart. Bankruptcy stays 10 years on your credit report.
Stupid Disincentivize
And these smart lawmakers dont think that far smarter students - who have no assets to lose- will easily file for bankruptcy, erase their debt, and start anew. Guess who pays the bill? Idiot citizens who voted for these moronic lawmakers.
Finally. That is the correction that is long overdue. Student loan debt should be treated no differently from credit card debt. Next, get the federal government out of the student loan business.
This bill reverses what Ron Reagan did ... making student loan debt unforgivable even through bankruptcy. Unlike c/c or other debt relief under bankruptcy, student loans since '84 can literally follow people to their grave and beyond.
NO! I won't agree to this proposal nor will I agree should it become a law. Parents, friends and family members are responsible for the short fall/outcome not the people. It's thoughtless, arrogant and selfish. ♀️
How about those parents who paid for their children's education with their savings. What type of break do they get? Very unfair.
Another screwball and that is putting it mildly.
Making it easy to file for bankruptcy hurts everyones credit card payments.
A parent sends a there brilliant child to NYU and now the wants out of the loan. He graduates and that privileged kid is now an adult working as a CPA or a lawyer starting at 80,000. No pay your debt. Congress should lower the rate to 1% for admin. 🤮
... free loaders welcome...
This will bring tuition costs down since universities will have to start showing that their students with X major end up paying off 100k+ loans. Many no-name private universities that jumped on the 40k a year bandwagon will have a day of reckoning.
So you borrow the cash to pay overpriced colleges for useless degrees and what’s the first thing you do upon graduating? File for bankruptcy and stiff the US taxpayers. Your credit is ruined for years and you’re back living in your parent’s basement! Genius.
Bailouts from dems to everyone except the poor. Taking the black vote for granted?
Why doesn’t the federal government REDUCE loan limits to force colleges to REDUCE tuition? Every bubble needs leverage. The Feds created the problem of runaway tuition. They can solve it.
Bad choices begat bad choices... Get a degree in something useful.
I am not paying for your spoiled punk's debt! If you can't pay for a good or service you received you should go to jail! Its called theft!
So, a company built on issuing debt and reinsured to manage that debt, can now liquidate with no implication to debt holders ( company ) like bond holders? Without bonds, can you image the credit card market or housing....This is nuts.
More free stuff.
Another great idea from the Dems, incite someone to file bankruptcy. How stupid is that?!?
Good plan.
If I can discharge debt for a Caribbean vacation, a train load of unicorn dildos, or a failed taco truck venture -- which I can -- I should also be able discharge student loan debt. But I'd be in favor of a partial claw back from schools. They need some skin in the game.
Democrats destroyed health care in America
Another defacto freebie to leave the taxpayers on the hook. There are approximately $150 BILLION in student loan defaults out there right now that the American will have to shoulder. There is a total of 1 TRILLION dollars of government backed student loans out there. Terrible!!
Government created incentives to file for bankruptcy seems like a rather bad idea
So what. Maybe this will actually force the banks to vet the individuals and their GPAs before lending them $100,000
And who pays for that? “WE THE PEOPLE!”
Horrible idea.
Great. The Millennial Walk-Away.
Life is tough. It’s even tougher when you are stupid. John Wayne
DemocRats have multiple plans for buying votes, including illegal immigrants
So basically nobody will pay their student loan?
Anyone else able to predict how this will play out? Higher enrollments Higher numbers of high financial risk students Higher numbers of useless degrees Much higher numbers of bankruptcies Taxpayers end up paying the litany of defaulting student's tuitions Economics101
Aren't these same pols calling for free education for all? Henceforth student loans won't be relevant!
It would certainly be good for bankruptcy attorneys... not so much for the tax payers of the government backed loans. But hey, fix the symptoms and not the problem. SocialismKills
davidjarrin199
Politicians ridicules idea! Who will give loan?
WTF? What happened to teaching American work-ethic? Dear God - please save us from ourselves 🙏🦅
YES
The average citizen will be the debt slave of the deadbeats through our tax dollars, as always. (Where's the free stuff for people who pay their bills on time?) This will totally jack up tuition costs even further. There's no reason to hold it back after this.
PhxGOP Have too see it to believe it!
Not fair! You PAY IT OFF Even IF it takes you 30 years! Because the Kids coming up Behind You need Money in the Til for them too Public Service works too Work a Second Job Drive an older car Keep ur Cell Phone longer And Rent Choices Have Consequences! No Free Rides! Grow up!
U borrow/u pay back
Wow! I need to run up some student loan debt quickly.
Students filing for bankruptcy? They have no money, that is why student loan is given.
Yeah, most of the parents probably walked from mortgages. Nut don't fall far from the tree.
THIS WILL CAUSE SUPPOSED ASSETS TO BE RECLASSIFIED AS DEBT. PASS A BILL FOR ME OR ANYBODY ELSE TO ERADICATE DEBTS BY DECLARING BANKRUPTCY WITHOUT ANY OTHER IMPACT ON THEIR FUTURE CREDIT
Great plan! Why not start your life off with a low credit score, and a bankruptcy on your credit file for 10 years. How about get a job and pay your commitment?
I should have went to college for 8 years, constantly changing my major, partying and having a ball till I was 26. Then I could have stuck the bill on Uncle Sam. Great plan.
That’ll put more work on the bankruptcy courts but will be beneficial to some like the ones with the debt but no jobs. 🤷🏽♂️
They should hold the colleges and universities liable in the event students discharge their debts in bankruptcy. Admistrative staff at institutions of “higher” education would drop by 75%. How many safe spaces do you think there would be then?
So they can pull a Donald Trump on their loans now? I guess that’s fair...
If this passed, no one but parents with great credit would be able to get loans for their kids' college. So low income kids could kiss college goodbye. Unintended consequences are Dems specialty.
This is ridiculous. If this is past the first thing a student does after graduation is file bankruptcy
Uh oh...
And the Working America citizens pay for it again. What is wrong with you?
Great financial advice for young Americans starting their financial lives, please put in your platform.
Maybe we should just cancel all debt.
But we still have to file bankruptcy WTF
Be prepared for a huge wave of bankruptcies