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OneTenthofOnePercent

(6,268 posts)

27. If you had the money to payoff your Student Loans, but didn't... would that be immoral?

Thu Jan 31, 2013, 04:44 AM

Jan 2013

Not a hypothetical question.

In light of the nearly bursting student-loan bubble, something will have to be done. I'm thinking something in the neighborhood of partial forgiveness or interest readjustments.

So lets say a husband and wife had close to $100k in student loans... that's not an unreasonable/uncommon figure for TWO persons fresh out of college who have been through all sorts of school. However, lets say the couple both have good jobs that, on top of a mortgage and other living expenses could simply PAY OFF the student debt in as little as 2 YEARS! In other words, they have more than a fair bit of disposable income.

Would be immoral to simply pay the minimum loan payments of defer them (for whatever qualifies for deferment these days) in the hopes that some relief may be coming to former students when this bubble bursts? I'm not talking about skipping payments or defaulting, just simply paying minimum or maybe even legally deferring... considering the fact that they pretty much just pay them off.

Savvy or immoral? or both?

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Student-Loan Delinquency Skyrocketing, Reportedly Hitting 'Danger Zone' [View all] marmar Jan 2013 OP

They will take your student loan money out of your Social Security check. Manifestor_of_Light Jan 2013 #1

actually shanti Jan 2013 #62

Technically true, but there is an unspoken (?) rule that makes bankruptcy Judges block Egalitarian Thug Jan 2013 #69

Time for TARP2 KansDem Jan 2013 #2

The problem is, if there is any bailout by this administration it will be for the servicers/banks Maven Jan 2013 #9

These loans are generally not even dischargable through bankruptcy (which destroys credit coalition_unwilling Jan 2013 #39

Agree 100% Maven Jan 2013 #54

I made an OP about this issue a few weeks ago. white_wolf Jan 2013 #58

It's a sad day indeed, when one finds that the 'bright side' is some coalition_unwilling Jan 2013 #82

Nothing demwing Jan 2013 #3

They'll do something about it. They'll give the banks a big fat check from the taxpayer and they'll DogPawsBiscuitsNGrav Jan 2013 #21

Surprise, surprise. Lugnut Jan 2013 #4

There is a shortage of good jobs. JDPriestly Jan 2013 #5

Student debt jubilee reteachinwi Jan 2013 #6

Wait, so the typically affluent kids who went to college get it for free...? Demo_Chris Jan 2013 #10

Most of the kids who borrowed did so because they needed the $ to go to school Maven Jan 2013 #11

Seriously. There are a whole lot more affluent than poor in college Demo_Chris Jan 2013 #16

almost all of my daughter's friends are going to college on mommy and daddy's dime liberal_at_heart Jan 2013 #25

It's NOT the rich kids who are borrowing the money. fasttense Jan 2013 #29

I guess for some reason this is difficult to understand. Let me try another way Demo_Chris Jan 2013 #37

You are painfully wrong. aquart Jan 2013 #41

+1. Only rich kids go to college. obnoxiousdrunk Jan 2013 #44

Hell, I went to Yale. KamaAina Jan 2013 #46

Do you believe that your Yale education should be free? Demo_Chris Jan 2013 #49

No. I'm merely snarking on the notion that "only rich kids go to college". KamaAina Jan 2013 #50

If I am "disgustingly" wrong you should have no trouble providing data Demo_Chris Jan 2013 #48

This only works when you ignore imporatant numbers. Try this; Egalitarian Thug Jan 2013 #57

That is correct. JoePhilly Jan 2013 #76

Absolutely, but it's not the GOP, it is the ruling class and we have a whole bunch of them in Egalitarian Thug Jan 2013 #78

You are arguing apples and oranges. fasttense Feb 2013 #92

Okay... (cont.) Demo_Chris Feb 2013 #94

First you are assuming everyone can be a MIT grad if given enough money. fasttense Feb 2013 #95

Then we are on the same page. Education is our nation's BEST investment. In my opinion (nt) Demo_Chris Feb 2013 #104

You cannot be serious. a la izquierda Jan 2013 #33

What EXACTLY are you proposing. Be specific please. Demo_Chris Jan 2013 #47

There should be no interest on student loans. a la izquierda Jan 2013 #51

In a socialist country even the Wal-Mart worker would have a much higher living standard than here. white_wolf Jan 2013 #60

In a developed modern society PAYING for school should be the last consideration Demo_Chris Jan 2013 #71

Yet here in the U.S. paying for it has to be a consideration. white_wolf Jan 2013 #72

I agree. I believe education should be FREE Demo_Chris Jan 2013 #75

Everyone in this country should earn a wage... a la izquierda Jan 2013 #87

Zero interest loans are a great idea, assuming they apply to everyone... Demo_Chris Jan 2013 #67

Oh heck yeah, of course 0 interest should be available to all. a la izquierda Jan 2013 #86

I can well imagine (nt) Demo_Chris Jan 2013 #90

What intrinsic value do your multiple degrees have that justifies your to belief Egalitarian Thug Jan 2013 #70

I want the best educated teachers we can get Demo_Chris Jan 2013 #73

Fundamentally, I think we agree, although I don't think loans of any type should be required Egalitarian Thug Jan 2013 #77

I assume you understand that one-time forgiveness programs are unfair and regressive Demo_Chris Jan 2013 #79

I don't see how it would be regressive, but depending on your POV I can see how someone Egalitarian Thug Jan 2013 #80

Fair enough Demo_Chris Jan 2013 #81

Thank you. But I'm a girl :) a la izquierda Jan 2013 #85

Of course we agree. We probably agree on 99% of it. Sorry for calling you "he" (nt) Demo_Chris Jan 2013 #91

Um, I teach at a university and I'm an expert in my field. a la izquierda Jan 2013 #84

I don't think you have watched me trash educated people, I'm one myself. Further, you didn't answer Egalitarian Thug Jan 2013 #88

Are you friggin' serious? You bore me. a la izquierda Jan 2013 #89

That's exactly my point, thank you. You are a Socialist, yet don't seem to understand that Egalitarian Thug Feb 2013 #98

Sneering at a college professor is something I tend to see RWers do. Not Democrats. kestrel91316 Feb 2013 #101

Oh my, I'm in trouble now. Do you understand the difference between teaching Egalitarian Thug Feb 2013 #102

We don't generally call ourselves "lefties", lol. That would a RW epithet. kestrel91316 Feb 2013 #108

Yeah that Ed Schultz, as just one example, is such a blatant Reich-wing nut. Egalitarian Thug Feb 2013 #109

The morality of jubilees is always interesting Recursion Jan 2013 #68

I prefer pre-mortem justice and equality to post. But that's just me. :) Demo_Chris Jan 2013 #74

Maybe some of the banksters can toss in some pocket change Rex Jan 2013 #7

+1000 smirkymonkey Jan 2013 #35

Rising tuitions, declining wages... something's gotta give. reformist2 Jan 2013 #8

Ya mean, like the college loan "Bubble?" joeunderdog Jan 2013 #30

Not so much 'share-cropping' as it is 'indentured servitude,' but I definitely coalition_unwilling Jan 2013 #42

That's one reformation I'd join in. n/t white_wolf Jan 2013 #61

Occupy Los Angeles made a token effort to address this with its free coalition_unwilling Jan 2013 #83

This message was self-deleted by its author limpyhobbler Jan 2013 #12

This is sick. I am at the point where I just cannot afford to smirkymonkey Jan 2013 #13

have you looked into the income based repayment program? magical thyme Jan 2013 #14

Apply for income-based repayment Yo_Mama Jan 2013 #15

Thanks to both of you. I appreciate it. smirkymonkey Jan 2013 #18

The income-based repayment program just has you paying a fixed percent of income Yo_Mama Jan 2013 #19

I am actually paying an income based repayment. smirkymonkey Jan 2013 #52

Well, better man up and prepare a gigantic rescue package . . . . hatrack Jan 2013 #17

You mean the taxpayer Yo_Mama Jan 2013 #20

GOOD Matariki Jan 2013 #22

K&R Fire Walk With Me Jan 2013 #23

It has been out of control for awhile. Behind the Aegis Jan 2013 #24

That's criminal.....or it should be. Loan sharking is now legal and tpsbmam Feb 2013 #106

Occupy student debt tama Jan 2013 #26

If you had the money to payoff your Student Loans, but didn't... would that be immoral? OneTenthofOnePercent Jan 2013 #27

Another avenue of debt WE, US, WE will have to pay. Festivito Jan 2013 #28

And now we are heading into a double dip recession so I see this problems only fasttense Jan 2013 #31

du rec. nt xchrom Jan 2013 #32

K&r from a PhD with six figures of federal debt. a la izquierda Jan 2013 #34

K&R, from someone in debt yo SallieMae smirkymonkey Jan 2013 #36

Indentured Servitude, v. 2.0 - n/t coalition_unwilling Jan 2013 #38

Too bad we can't blame the banks for this. Maybe it's the Government's fault? dkf Jan 2013 #40

Like pretty much everything else, this problem can be laid right at the feet of the RW and kestrel91316 Feb 2013 #103

You honestly think this is only or mostly for profit collages? dkf Feb 2013 #105

They took $6,000 in "points" off a $20,000 loan. aquart Jan 2013 #43

So you are refusing to pay the interest you owe? Travis_0004 Feb 2013 #107

So, how do they control education costs in Europe??? reformist2 Jan 2013 #45

Where I have knowledge about this, they rigorously control access dmallind Jan 2013 #53

The best way to address this is ProSense Jan 2013 #55

I think the student loan racket is indentured servitude. Sheldon Cooper Jan 2013 #56

So let's go to equity instead of debt Recursion Jan 2013 #63

That would be fine if they're working in the field for which they studied. Sheldon Cooper Jan 2013 #64

I finally just caught back up with mine Recursion Jan 2013 #59

I may be very naive here so feel free to tell me why this is impossible, but... white_wolf Jan 2013 #65

They recapitalized my interest while I was deployed in the military for two years Recursion Jan 2013 #66

Oh come on, you know you want to take a flamethrower to them davidpdx Feb 2013 #93

I do. Apophis Feb 2013 #97

The tuition at my college keeps going up and they're offering less. Apophis Feb 2013 #96

Tuition is raised everywhere at my public university. I have to wonder where the money goes. white_wolf Feb 2013 #99

Same with my university. Apophis Feb 2013 #100