Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My girlfriend and most of my friends are leaning towards Sanders because we have a lot of debt from college so we are hoping he becomes President.
The above is a very sad testiment to the state of US politics. People vote based not on what freedoms they can secure, but what treats they can secure.
This is why only property owners, vets, or active duty military should be able to vote. Everyone else is looking upon thier government as a piggy bank to be robbed.
When did citizens become convinced that they are entitled to the assets of other citizens?
When did citizens become convinced that they are entitled to the assets of other citizens?
Yeah seriously, we have to cut off SS and Medicare benefits as soon as seniors use up their (and their employers') contributions plus investment earnings thereon.
Whatever gave you the idea that Sander's platform includes forgiveness of loans pre-dating his presidential tenure? Look here and tell me where it says anything close to what you are saying: https://berniesanders.com/issues/its...and-debt-free/
He is talking about students attending college going forward, after he magically passes this legislation making it all possible.
The Fifth Amendment's takings clause would prohibit the Federal government from unilaterally canceling student debts owned by banks and other financial institutions . . . without just compensation. Do you think the government would cough up $1.2 TRILLION? Not going to happen under any circumstance and, more importantly, Bernie has never promised it.
I am concerned that some people are voting for Bernie because they think he supports something so completely illogical. He and his campaign have a lot of very positive aspects, so there is no need to make stuff up or not confirming his stance . . . . on his website.
Mick
I haven't looked at his website yet, I'm just going off what I hear from people around me who are in the same situation. I'll check out his site though, thanks.
Just pay the damn loans that you agreed to pay. If you didn't spend that money wisely, too bad, welcome to the real world. Sanders isn't going to get you squat, it will never get passed.
One of my sons was in college during this time of easy student loan money. He worked his way through his undergraduate studies, and between what he earned and what we (his parents) paid, he spent the first four years debt free. He took out a small loan to get through grad school, and between what he earned and what he borrowed, he got out of grad school with a small and manageable debt.
He lived off campus while in school and I visited on a number of occasions. He and his room-mates (and other friends of his that I met) lived much better than I did when I was in college back in the day. Most of his friends didn't have jobs. Most of them took more than four years to get a four year degree. A whole lot of parties, a whole lot of loan money, a whole lot of credit card use (credit card companies hit campus regularly). For most, there was no need to get a job and no pressure to get in and out of school as quickly as possible because they had plenty of borrowed money to live on.
When I was in school I was desperately poor and ate more Ramen Noodle, ham sandwiches on white bread, and frozen pink lemonade that I care to recall. Pretty much everyone I knew in school was poor and struggling.
Nobody put a gun to these kids heads and forced them to take out student loans. Nobody forced them to take more money than they needed. Nobody forced them to major in stupid sh*t where they had no chance of getting a job when they were done. Nobody forced them to get a credit card when they had no legitimate source of income. And now they don't want to pay back the money they willingly signed on the dotted line to get. Suck it up kiddies. It's your debt. You own it.
I think Sanders will declare a jubilee year and all debt - not just student loans - will be erased. Then, he'll declare a national bank holiday where everyone who is not a billionaire can go to the bank and take all he can haul.
Student loans are federally backed and can't be eliminated in bankruptcy which means they are pretty much the safest loan a bank can put out. Since loan rates are largely based on risk I see no reason why rates shouldn't be the standard rate of inflation (as they are long term) plus 0.5-1% so the banks continue to make money on the loans. 2.5-3% should be the standard student loan rate max. These student loans at 6%+ are outrageous. I don't have much in the way of student loans, and luckily they haven't impacted my life much. I own a home, have nice things, and get to enjoy life with little debt. Just the same, lowering my rates from 6.5% to 2.5% would give me almost an extra $100 in my pocket each month, and since my student loans would only be 2.5% I'd be in no rush to pay them off faster.. That extra $100 a month would either go right back to stimulating the economy with purchases, or into the stock market as investments.
I also feel that once a borrower has paid back 2 times the original loan cost the loan should be eliminated. If a student has $100k in student loans, and they're on income based repayment paying $750 a month they'll have paid $200,000 after 22 years.. Whatever is left on the loan should be completely eliminated at that point, and they SHOULD NOT have to pay income tax on that forgiven amount.. The bank made back their money ($50k over standard inflation rate), and the government made their money on the bank's profits.
I feel these changes would greatly impact our economy for the positive, and I'm a republican.
I think Sanders will declare a jubilee year and all debt - not just student loans - will be erased. Then, he'll declare a national bank holiday where everyone who is not a billionaire can go to the bank and take all he can haul.
Don't forget forgiving ourselves of the $20 trillion national debt! The Chinese rejoice!! Jubilee!!
Mick
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
