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REPORT ABUSIVE REPLY
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Message Subject
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Today Obama Used His Executive Powers To Push Student Loan Reform
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Poster Handle
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Jake101 |
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Post Content
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Banks are in business to lend..if they do not lend then people complain that it is not fair. It is a no win situation as far as loans go for college unless the people stand up and take responsibility for their own debt and make smart choices. No one told these people to go out an get a loan. If they feel it is necessary to go to college ..then work for it. Pay as you go..or get better grades , an internship or save for it while you are living at home. I have a son who right now holds down a job and goes to college. He pays for his classes as he is going and has no student loans and I do not pay for his college. The choice is his and his alone. I help him out by having him stay at home and contribute by working around the house and picking up Milk and items he can afford to help out with. I do agree that no one should bail out the banks..that is part of the risk of handing out money for people to use.
Quoting: Mooshi Kin A loan is by its very nature a risk. In the 90's, banks told colleges "Charge whatever you want, we'll loan it." College raised their rates 200-500%, and the banks kept their end of the bargain and began loaning the inflated amounts. But the banks had a card they knew they could play when the bubble burst. They knew they had enough pull in the government, that would permit the banks to loan the government money to pay for their own bail out! Do you understand the significance of this? This was a SCAM. Ohh like forgiving all loans ? How about I go out an buy a Bentley and ask for a loan forgiveness? Isn't that a SCAM? It is the same thing..no one told these people to take out the loans The banks have money, which they CHOSE to OFFER to someone. They offered people they KNEW couldn't pay it, because they knew people like YOU would be forced to foot the bill. Because of that, we've spent upwards of 20 Trillion (Tarp, bail out, etc) borrowing money from banks, to hand right back to the same banks that loaned it to both the original borrower and the government. Then, the banks charge YOU and ME to pay for the original loan of the student AND the loan they gave the government to give right back to themselves to "bail them out." Are you following me?
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