Speakeasy forum: Is this what's coming after healthcare?

yesterday, and I mentioned this a few months back, the student loan program will be the next financial bubble to burst. Now that the Feds own 90% of the student loans, defaults are occurring more rapidly than before and the taxpayer is on the hook for trillions once again.

owned the student loans, the kid and/or the parents were responsible for repayment.....that system worked. The Feds, under BO, took it all over two years ago and there is a stipulation somewhere in there that if the loans weren't repaid, they would be 'forgiven' after ten years. What a gift giver this president is....when it's not HIS money to give.

there wasn't a student loan crisis in these numbers until BO took it over.....pray tell, how is he 'managing' it?

And yes, they will, you can bet BO's bank on that one.

you will begin to publicly criticize BO finally? Do you think that BO will use the money 'saved' from not funding Iraq anymore to pay down our debt or do you think he has already planned to spend the money on some other pet project of his?

By the way....does the Canadian government control student loans or is that still left up to the banks and financial institutions?

JP didn't mean that the two incredibly expensive wars were a high point in the American Presidency, but two examples of George "Dry Hole" Bush's continued lack of talent.

To answer your question it is a shared responsibility between the private and public sectors.

Rob

The private sector needs a future supply of qualified workers. Educating them properly is the best way to accomplish this. This won't happen if they simply cannot access higher ed due to cost/lack of available loans. The public sector needs to educate as many of its young citizens as possible to keep them gainfully employed/skilled enough to create small businesses down the road, keep them otherwise away from criminal activities, and off the welfare rolls.

Why are you so myopic on so many topics discussed in speakeasy?

I asked a question about how is Canadian student loans shared between private and public sectors?

As for having a specific viewpoint regarding liberal vs conservative discussions/debates here in SE, I don't consider myself to be myopic unless the discussion is about BO. I make no bones about how I have felt about him since day one of his campaign.

Defaulting on your federal student loan can lead to serious consequences. One consequence is that the U.S. Department of Treasury can seize—or garnish—your federal and potentially your state tax refunds to repay your debt. This is allowed by the Treasury Offset Program (TOP). Some states, including Massachusetts, have an additional program that garnishes state payments directly.

then anyone you know should not repay their government loans, even people you don't know.

How did those people that you know with 3 free (Government paid for) cellphones make out?

IF you can't beat'em...join'em.

You realize that the other guys will never get in, as long as Obama is giving stuff away...A man would be a darn fool to vote him out of office.

Your statement

so just because the Feds CAN doesn't mean they WILL.

i am working three part-time jobs as a radiologic technologist, barely making ends meet.
I am a single female with no dependents. For the past 2 years my tax return has been taken by the federal government for my student loans. Now, my wages are being garnished at one of my jobs. I am afraid of filing my taxes for this year and last year- I don't want all the funds to be taken away from me...

Because they CAN means They CAN/DID...

You know anyone with a student loan?

Are they being harassed?

Any comment now?

are people who owed for a number of years and ignored the loan debt.

Well, YES...what do you want to happen...the government garnish wages and tax refunds while people are faithfully repaying their loans?

Any of your friends that are repaying have their wages/tax refunds garnished?

Pre-emptive garnishment?

I should have said

I'd stop reading about them, or I'd read about them and take a pill.

So your answer to anything that bothers you, even if it affects you personally, is to ignore it?

NO!!!...MY answer is

God, grant me the serenity to accept the things I cannot change,
Courage to change the things I can,
And wisdom to know the difference.

AND

Don't loose any sleep over anything I read.

How bout you?

thanks for asking so many nowhere questions, it really clarifies things.

was part and parcel of the Banks liabilities. Obama, advised by a whole bunch of Wall Streeters, bailed out the banks so that we didn't have another Great Depression. Things may not be great, but they're not 1930's bad. And the current situation is based on low tax revenues. The lowest since the 1920's. If revenue, i.e. taxation is not addressed we will crawl through the swamp for another 20 or 30 years. If revenue is addressed even in a small way, that period will be shortened substantially. Re-introduce the tax-rates of America at its peak, the 50's and 60's and it will go away quickly as will a great deal of the poverty. Then figure out a proper progressive taxation scheme that shares liabilities and wealth, not evenly, but fairly, and life will be livable again.

Me, I'd put Paul Krugman and Joseph Stieglitz in charge, and see how it all shakes out. 3 Nobel Prizes between them, they must know something. And if Nobel Prizes are worthless as some here intimate, why does the country pat itself on the back when Americans win them. Or the Fields Medal in Mathematics.

Rob