The student loan mess is easily the worst boondoggle in US history, which funds the Democrat machine more than anything. Giving government loans to 10 years olds with no co-signer, what could go wrong? You would think that student loans propping up liberal pro-Democrat colleges would lead the Republicans leadership in Congress to close it down.

Would you lend money to a 17 year old with no credit, to learn Gender Modification Studies or Puppetry? Well you are, if you are a taxpayer. Would you lend a 16 year old to take such a loan without a co-signer? Add on to that, students sign only 1 master note, but then get loans year after year and end up not even knowing they got so many loans, see this case where the liberal college was adding loans to students for 9 years without students ever even knowing: https://www.justice.gov/usao-ma/pr/former-merrimack-college-financial-aid-director-sentenced-loan-fraud . The worst is, we are dealing with young people and the liberal college employees that pose as wise authority figures advise kids to take the loans. In other words, the liberals use fraud to trick naive young people, which destroys their lives and bankrupts the country.

For crying out loud, DEFUND the LEFT!

Possible Solutions:
1. Immediately Stop Loans
2. Any borrower that paid back 3 times the loan (Borrowed $50,000, paid $150,000, still owes $300,000), loan is erased
3. Children under 15 years old, loan erased
4. Tax money grants just for job training
5. No more ridiculous many years requirement of college to enter trades (Why 8 years to be a veterinarian?)
6. If students cannot find jobs after graduating, they can sue the college.

Quotebetween the ages of 10 and 20 years at the time of loan closing,
Young people applying for a Youth Loan are personally responsible for repaying the loan. A co-signer is required only if the project shows possible difficulty in repaying the loan
https://www.fsa.usda.gov/programs-and-services/farm-loan-programs/youth-loans/index

My body, my choice? 

Your debt, your debt.

Quote from: Twinkle on August 14, 2022, 12:35:53 PMYour debt, your debt.

The problem is they have children taking these loans out, based on their signature. It is also a Democrat Party funding mechanism.

Quote from: unver on August 14, 2022, 01:08:32 PMThe problem is they have children taking these loans out, based on their signature. It is also a Democrat Party funding mechanism.

Unfortunately.  Not only can they take loans now without parental consent -- in some places they can consent to having their bodies mutilated surgically, without hope of ever reversing it.

I'm so glad I'm old and have that many fewer years that I have to watch this garbage.

Well put. The problem started when college became a presumed prerequisite for success. Too many people consider it child abuse to put their kids through trade school instead of university.

Quote from: libertasbella on August 15, 2022, 10:22:05 PMWell put. The problem started when college became a presumed prerequisite for success. Too many people consider it child abuse to put their kids through trade school instead of university.

Absolutely Correct!
They literally held it over your head as a death sentence if you didn't go to college.
If one looks at all the old 50s, that's when it started being pushed by hollyweird.
Before that, it was start a business, learn a trade or follow in pops shoes.

It's pretty easy to see when college became an industry. Now it ruins the minds of all who come in contact with it, and makes them debt slaves for life.

They should change the rules to allow student loan debt to be discharged in a bankruptcy like any other personal debt.

The kids'll have a rough 7 years rebuilding their credit. But at least at the end of that, they'll be wiser for the experience and maybe not so likely to borrow money they will have trouble paying back.

More importantly, the banks and colleges will need to make DAMN sure the borrowers will be able to repay. You won't see a lot of them making $100K loans to pay for a gender studies degree.

Quote from: eman623 on August 17, 2022, 05:35:58 PMThey should change the rules to allow student loan debt to be discharged in a bankruptcy like any other personal debt.

The kids'll have a rough 7 years rebuilding their credit. But at least at the end of that, they'll be wiser for the experience and maybe not so likely to borrow money they will have trouble paying back.

More importantly, the banks and colleges will need to make DAMN sure the borrowers will be able to repay. You won't see a lot of them making $100K loans to pay for a gender studies degree.

How about we just get the government out of the student loan business altogether. For those who got the loans, how about pay them back?

Quote from: eman623 on August 17, 2022, 05:35:58 PMThey should change the rules to allow student loan debt to be discharged in a bankruptcy like any other personal debt.

The kids'll have a rough 7 years rebuilding their credit. But at least at the end of that, they'll be wiser for the experience and maybe not so likely to borrow money they will have trouble paying back.

More importantly, the banks and colleges will need to make DAMN sure the borrowers will be able to repay. You won't see a lot of them making $100K loans to pay for a gender studies degree.

Better yet, allow them to sue the schools for fraud!

Quote from: Solar on August 17, 2022, 06:16:55 PMBetter yet, allow them to sue the schools for fraud!

That's it. I have not heard of holding the schools accountable but that would solve many issues.

Quote from: Possum on August 17, 2022, 06:26:58 PMThat's it. I have not heard of holding the schools accountable but that would solve many issues.

Exactly! They sold a faulty product based in lies. We don't allow any other industry to get away with what they did, and now it's time they paid up!

Quote from: Possum on August 17, 2022, 05:51:51 PMHow about we just get the government out of the student loan business altogether. For those who got the loans, how about pay them back?

Works for me.