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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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People should be able to discharge student loan debt in bankruptcy. Their credit would be fucked for a while. Student loan volume would fall by 80% and colleges would have to tighten their belts and start teaching stuff that has economic value instead of just hatred of straight white men. Biden is proud of the bankruptcy law changes he accomplished (with GOP leadership) that gave special protection to student loan lenders over other unsecured debt. I hope he gets pilloried for that. An alliance between libertarians and libs to allow discharge of student loans would help topple the university system that’s undermining what’s left of the culture.
That’s half the solution. The other half is to make sure it’s not the fedgov (i.e. taxpayers) holding all that shitty debt.
Happy to have the loans dischargeable in bankruptcy. But only for any new loans issued, and the loans MUST be privately issued. Which means no loans for university.
Otherwise, it will be the same as Bernie wants.
Student loans were a complicit scam between the banks and colleges. These ‘children’, with no assets, no income, were given large loans. In turn the colleges boosted tuition rates – and made windfall profits. To ensure a steady supply of students, the colleges created meaningless / worthless degrees – that were easy – so normally non-college qualified students could be admitted and graduated. But this wasn’t enough. So the students themselves were given the money directly. They used it for lavish (by student standards) apartments with underground parking, gym’s, etc. As well as drunken spring breaks.
The end result has actually damaged our economy: We have invested 1.5 $TRILLION$ giving people useless education – instead of plumbers / auto tech’s / electricians / carpenters ….. we have disillusioned unskilled people who are at a prime age to contribute – but don’t know how.
It’s a crime. Forgiving these loans is doubling down on the failure.
But they can cancel corporate debt with taxpayer money through bailouts and other publicly funded corporate welfare models and that’s just fine.
No, it is not.