Economic conditions on the backside of Forbearance

[ma96782]

I don't recall seeing this thread. Yeah, my old memory (maybe/probably). And then....since my post was deleted from that other thread. Anyway, I'll try this here......

RE : Student Loans and forbearance or forgiveness

Yep....some kids/students go to university and run up large debts.

Maybe.....
They go on "summer break" and buy "new cars" while still in school.
They might manage to graduate with a prestigious degree of some sort.
They might get a high paying job (say at "x times higher" than what you are currently making).
They might get married and spend big bucks on that lavish wedding.
Possibly have 1, 2 or 3 kids.
Buy another new car.
*Buy a collection of expensive firearms.
Buy that Mac Mansion in the suburbs.
Use their CCs to furnish their home.
Go on family vacations.

But yet.....they'll claim poverty and plead for student loan forbearance or out and out forgiveness.

Brandon and the Dems might just do it.

But......what does it TEACH the next generation?

Aloha, Mark

PS……*maybe I got deleted because I lacked a "necessary gun/subject" tie in? Whatever.

 

[Nick Burkhardt]

The mortgage forbearance crisis has been avoided by the rising home values. If wages actually rise, then students may get to inflate their way out of old debt.

 

[ma96782]

There is still plenty of hope to repay those student loans (even if you didn't graduate from that expensive university).




That picture is from Los Angeles.

Aloha, Mark

 

[ma96782]

I'm wondering.......

How many people have/had invested their forbearance money (say into: BitCoin, Dogecoin, GameStop, AMC or whatever) thinking that they would make a killing without much effort? The market can only GO UP. Rrrright?

Aloha, Mark

 

[Nick Burkhardt]

I'm wondering.......

How many people have/had invested their forbearance money (say into: BitCoin, Dogecoin, GameStop, AMC or whatever) thinking that they would make a killing without much effort? The market can only GO UP. Rrrright?

Aloha, Mark

I was waiting for the Bitcoin price to drop to $30,000 this summer before jumping in, but got covid right before it hit that low and missed out on a chance to double my money.

 

[ma96782]

Opinion | A Better Way to Fix the Student Loan Problem

Instead of blanket debt relief, let people pay what they can afford.

www.yahoo.com

Mind you that it's not my idea.

Aloha, Mark

 

[ma96782]

UPDATE 3-Navient to cancel 66,000 loans worth $1.7 bln to resolve predatory lending claims

U.S. student loan giant Navient Corp will cancel $1.7 billion in debt owed by 66,000 borrowers and recompense 350,000 others to resolve allegations by 38 U.S. states and the District of Columbia that the company preyed on customers and steered many to costly repayment plans. Thursday's...

www.yahoo.com

Aloha, Mark

 

[CRBMoA]

There really wasn't any 'forbearance money', at least in my case.

The Servicing company just stopped charging us interest once the forbearance started.

Kept making the same payments, now applying to principal only, and I sent the last payment last week.

 

[Tony617]

Are the Feds still giving out money these days for the commoners? I didn't receive any money since I had a full time job all this time and made too much money to get anything.

 

[Longwalkhome]

Are the Feds still giving out money these days for the commoners? I didn't receive any money since I had a full time job all this time and made too much money to get anything.

What ever the feds give away is quickly stolen with inflation.

 

[sobo]

Are the Feds still giving out money these days for the commoners? I didn't receive any money since I had a full time job all this time and made too much money to get anything.

Same here. Even on short-term disability for the first 6 months of 2021 (the botched knee operation that resulted in massive nerve damage in my lower leg, for those that didn't get the memo) didn't get me a nickel of stimulus/sitonmyass money...

Hard to believe that dropping down to 60% of my gross for half the year ain't enough to get me any of that free fiat money...

 

[ma96782]

Give forbearance or forgive a student loan and.....

Run for political office.....Cough, cough.

Once O'Keefe found out he would not longer be footing a $600 monthly bill, he and his wife decided they had the financial security to pursue a run for office "to make a bigger impact and be more useful to more people," he said. He's now gearing up for the primary election in August and is a member of The Debt Collective — the nation's first debtor's union that advocates for cancellation of all forms of debt.

Taken from......

An accountant got $20,000 in student debt wiped out. 5 months later, he quit his job and ran for office.

"There's a whole generation of people saddled with student loan debt that can't participate in this important part of civic life," David O'Keefe said.

www.yahoo.com

Yeah.....why not have forgiveness/forbearance for ALL DEBTS? And this guy was a former accountant? Perhaps/maybe, he's just a closet Dem?



The standard disclaimer applies.

Aloha, Mark