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Obama student loan policy reaping $51 billion profit
Poast new message in this thread
Date: May 15th, 2013 10:46 AM Author: Saffron crusty weed whacker stage http://www.huffingtonpost.com/mobileweb/2013/05/14/obama-student-loans-policy-profit_n_3276428.html (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202770) |
Date: May 15th, 2013 11:09 AM Author: Saffron crusty weed whacker stage Unlike traditional lenders, though, the Education Department's profits are barely dented by loan defaults. For loans made in 2013 that eventually default, the department estimates it will recover between 76 cents and 82 cents on the dollar. Bankruptcy rarely discharges student debt.
PAYE no problem |
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Date: May 15th, 2013 11:15 AM Author: lake ticket booth Nothing to see here folks, just a generation of Shitboomers feasting on the carcasses of their young. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202886) |
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Date: May 15th, 2013 11:32 AM Author: Saffron crusty weed whacker stage Boomers didn't sign the loan papers (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202930) |
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Date: May 15th, 2013 11:33 AM Author: hairraiser lemon pozpig 2 parties to a contract bro. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202937) |
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Date: May 15th, 2013 12:12 PM Author: Saffron crusty weed whacker stage Weak argument (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203044) |
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Date: May 15th, 2013 12:30 PM Author: arousing balding generalized bond tank No weaker than arguing choice when the outrageous tuition is an epidemic. Once a problem is widespread enough it's pretty weak to just say "oh well you always have a choice!" Did indentured servants have a choice, too, faggot? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203130) |
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Date: May 15th, 2013 12:22 PM Author: chocolate mind-boggling mexican electric furnace Is it your belief that there is nothing wrong with the current state of affairs? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203085) |
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Date: May 15th, 2013 1:42 PM Author: lake ticket booth You bootlicker.
Boomers told their kids they had to go to college.
Boomers cause ITE.
Boomers made the loans nondischargeable.
Boomers failed to educate their kids about the loan papers.
Most importantly, FUCKING SHITBOOMERS undertook a series of policies that led to skyrocketing tuition costs that have made college far more expensive for are generations than it was for boomers. Incidentally, much of that increased cost has gone to fund shitboomer bureaucracy at schools all over the country. |
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Date: May 15th, 2013 2:04 PM Author: stubborn resort trust fund More like bootSTRAP licker, amirite? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203646) |
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Date: May 15th, 2013 2:19 PM Author: Cracking hissy fit native (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203735) |
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Date: May 15th, 2013 12:44 PM Author: hideous aromatic party of the first part liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203196) |
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Date: May 15th, 2013 12:59 PM Author: hideous aromatic party of the first part liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203287) |
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Date: May 15th, 2013 2:12 PM Author: Maniacal dilemma This is probably just total horse shit. My guess is they just counted up all the accrued interest with no regard for what will actually be paid, what will go into default and written off, what will be forgiven, etc. Accrual accounting means nothing. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203708) |
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Date: May 15th, 2013 2:29 PM Author: Saffron crusty weed whacker stage I assume it's based on this projection:
Unlike traditional lenders, though, the Education Department's profits are barely dented by loan defaults. For loans made in 2013 that eventually default, the department estimates it will recover between 76 cents and 82 cents on the dollar. Bankruptcy rarely discharges student debt. |
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Date: May 15th, 2013 2:41 PM Author: Maniacal dilemma 80 cents on the dollar for DEFAULTED loans only? And including interest? ROFL yeah right.
And what about forgiveness? |
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Date: May 15th, 2013 2:42 PM Author: arousing balding generalized bond tank You realize the "forgiveness" is of accumulated interest at 8%, right? They should still be getting back most of the principal, if not more in the vast majority of cases. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203846) |
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Date: May 15th, 2013 2:59 PM Author: Maniacal dilemma right...forgiveness of the "profit" that they are counting right now on paper, even though they haven't seen a dime of it and will write it off in 10-20 years. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203946) |
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Date: May 15th, 2013 3:01 PM Author: Lilac international law enforcement agency not if you mnake $50K a year and take out $300K like millenials are getting hard ons for. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203953) |
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Date: May 15th, 2013 3:27 PM Author: Saffron crusty weed whacker stage Outside of law students, med students, and a few other select areas, the vast majority of borrowers aren't borrowing enough to make PAYE a windfall. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204104) |
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Date: May 15th, 2013 3:34 PM Author: Lilac international law enforcement agency and yet you are advising everyone to do so in unlimited amounts. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204195) |
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Date: May 15th, 2013 3:36 PM Author: Saffron crusty weed whacker stage Well, the target audience here includes a lot of people with 200K+ debt and little hope of making anywhere near enough to service that debt. Those people may benefit by going for MAX DEBT, yes. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204216) |
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Date: May 15th, 2013 3:30 PM Author: Cracking hissy fit native less than 2% of borrowers owe more than $200K. less than 5% owe more than $100K. you're seeing a reality that doesn't exist. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204142) |
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Date: May 15th, 2013 3:29 PM Author: Cracking hissy fit native wage garnishment is a powerful thing (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204133) |
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Date: May 15th, 2013 3:01 PM Author: Lilac international law enforcement agency Does this have anything to do with payments collected this year, or are they counting some future stream? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203957) |
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Date: July 14th, 2013 2:15 PM Author: Emerald Talented Messiness Whorehouse WGWAG WGWAG ZIMMERHERO WINS LETS POST MORE (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23637119) |
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Date: July 14th, 2013 2:15 PM Author: Emerald Talented Messiness Whorehouse WGWAG WGWAG ZIMMERHERO WINS LETS POST MORE (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23637120) |