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dwayneb

(1,107 posts)
12. We are paying for lack of regulation and corruption of our legislature
Fri Apr 29, 2022, 09:30 AM
Apr 2022

You say "people who make promises and sign contracts should keep those promises".

While in general I agree with this, we cannot ignore that fact that student loan lenders and the subsequent consolidation schemes were incredibly predatory and deliberately deceiving and difficult to comprehend.

Particularly for a young person who does not have the wisdom to understand what they are getting into, I think that these companies were/are nothing more or less than loan sharks.

Our government did almost zero to regulate these lenders or to curb the interest rates they could charge, or the terms of the loans. And there is no doubt that it was the influence of these lenders on Congress and legislators that pretty much gave them free rein.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Thank you for posting this LetMyPeopleVote Apr 2022 #1
I thought this might give some a proactive path to get loan relief. Lucid Dreamer Apr 2022 #6
This message was self-deleted by its author Chin music Apr 2022 #2
Who's going to get handed the bill? Hint: look in the mirror. NT mahatmakanejeeves Apr 2022 #7
This message was self-deleted by its author Chin music Apr 2022 #9
I can think of worse uses for money. Hugin Apr 2022 #10
The "yeah, but what do I get" crowd Bettie Apr 2022 #16
Yes. Congress can pass a bill. maxsolomon Apr 2022 #11
This message was self-deleted by its author Chin music Apr 2022 #17
. WhiskeyGrinder Apr 2022 #3
Ding Ding Ding dwayneb Apr 2022 #13
Interest... deRien Apr 2022 #4
+1000 smirkymonkey Apr 2022 #27
some of us have paid monthly and still owe demtenjeep Apr 2022 #5
My partner is nearly 50. Paying $1,000/month. Sympthsical Apr 2022 #8
Why not do income based repayment? Johnny2X2X Apr 2022 #14
And that's horrific MissB Apr 2022 #19
We are paying for lack of regulation and corruption of our legislature dwayneb Apr 2022 #12
This message was self-deleted by its author Chin music Apr 2022 #18
Help me out here. Lucid Dreamer Apr 2022 #20
So you must also support getting rid of bankruptcy laws? Cuthbert Allgood Apr 2022 #22
Why do you think I support getting rid of bankurptcy law? Lucid Dreamer Apr 2022 #23
"Well . . . you could die." Sympthsical Apr 2022 #15
I'd like to see the school pay 1/2 Bonx Apr 2022 #21
And I believe that people who choose to have children should pay the full cost of raising them meadowlander Apr 2022 #24
Bingo Goodheart Apr 2022 #25
+1 leftstreet Apr 2022 #26
vote democratic. nt wiggs Apr 2022 #28
Latest Discussions»General Discussion»If you want student loan ...»Reply #12