@FmrRepMTG Cool! That's 1/3 of student debt. Wars and stuff like this good thing we don't give our citizens a break (not fair, I know) given a system that's broken and didn't work out (except schools). That's life - ok how about a payment that's affordable - this admin rather bankrupt all.
@WallStreetMav Supposedly "lasting fixes" are underway. It is a shame part of that plan was to throw existing borrowers into the fire and squeeze them financially more than ever before and at a time when we've already been squeezed in just about every other expense for years now!
@ras_twit2K@RBReich When the loans originated they were made with idea that the borrower would earn income to afford a standard payment... That did not happen for many hence all the loan options. That is where we are at... The entire system didn't work as planned so now we punish just the borrower.
@SpellmanDe71398@carolae144@GeneralMCNews This is also how many elderly who are retired and have a house paid for eventually lose it. The land values skyrockets around them increasing their property tax until eventually they can't afford to stay in their own home even though it's paid off and they're on fixed income.
@WallStreetApes Don't worry soon everybody will be in delinquency then the fed government will make sure they garnish your check 15% and no tax refund until it's paid back. So basically the rest of your life, you're never going to get a tax return and you're going to miss 15% of your salary.
@Exogynous@TESLA_winston They should be replacing old batteries that need warranty replacement with retrofit LFP because the same but remanufactured replacement seem like a gamble and likely a customer that will still end of with a car lasting not much past warranty... And likely their first experience.
@TESLA_winston No need.... Many die in the 70k - 80k range. The suspicion should be the fact that those are then replaced with a remanufactured pack and only retain the existing warranty (20k-40k miles remain)... So if it also dies like the first you're lucky if the car barely last warranty.
@LuckyStabbinHat@LauraW35459 Also bankruptcy would still need to be modified is some way ... Pretty easy to game that system just out of college if all you have is a bunch of student loan debt.
@LuckyStabbinHat@LauraW35459 100% agree. But, that is a solution going forward. Many of the millions that have already been trapped in this system are 40+... To finally make bankruptcy an option and put the people at that age the only way to finally be free have to completely start over is almost as cruel.
@LuckyStabbinHat I can tell you that those that have been in an IBR program the amount owed for each loan doubles pretty quickly... In exchange for an "affordable" payment all you have to do is watch your amount owed explode and pray it eventually gets discharged!
@karlykingsley The current final version is on the right track for new borrowers BUT completely ignores existing loan holders. For example, new borrowers will not have interest accrue if payment doesn't cover but nothing for existing except the ballooned capitalized interest already accrued!
@D_Clark19@Kwbryant@EDSecMcMahon Well therein lies the problem... Either only people who can actually afford to go get an education OR you want to educate in population and have everybody have the opportunity but you can't do it's not it with a profit motive where people just get trapped or The debt punitive
@tennismd7 @EDSecMcMahon A step in the right direction would be resetting the loans to original borrowed amount and either getting rid of interest or setting a fixed low simple interest. The problem is just like she said in the video, however, the capitalized interest is what's keeping them trapped.