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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: Yellow principal's office tank 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: Yellow principal's office tank 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: Big-titted abode cuckold 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: Yellow principal's office tank 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: razzmatazz shitlib 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: Yellow principal's office tank 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: adventurous lemon temple 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: Self-absorbed Public Bath Juggernaut 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: Big-titted abode cuckold 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: Swashbuckling elite gaming laptop heaven 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: mahogany maniacal theatre tattoo (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: Arousing Set (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: Arousing Set (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: fuchsia business firm 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: Yellow principal's office tank 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: fuchsia business firm 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: adventurous lemon temple 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: fuchsia business firm 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: talented lodge 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: Yellow principal's office tank 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: talented lodge 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: Yellow principal's office tank 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: mahogany maniacal theatre tattoo 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: mahogany maniacal theatre tattoo 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: talented lodge 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: Massive purple stage 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: Massive purple stage WGWAG WGWAG ZIMMERHERO WINS LETS POST MORE (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23637120) |