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Orrex

(67,115 posts)

58. Leave the student loan debt intact

Sun Mar 15, 2015, 01:04 PM

Mar 2015

Cancel all fees, charges and penalties incurred on that debt. Let people repay what they've borrowed, rather than 2 or 3 times that amount due to usurious punishments applied during the life of the loan.

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Petition to cancel all student debt [View all] AngryDem001 Mar 2015 OP

Why? I could see a petition to lower the interest rates to something reasonable, but why should a still_one Mar 2015 #1

I vote for zero interest rate as long as the debt is being hornored and kept current Brother Buzz Mar 2015 #2

That seems workable still_one Mar 2015 #4

I'd say payment required to be current be capped at 8% of after tax income HereSince1628 Mar 2015 #10

Its already capped at 15% of discretionary income on IBR. Travis_0004 Mar 2015 #40

And also consider a reasonable statute of limitations Matariki Mar 2015 #55

Agree with Travis - your proposal would raise loan repayments for many Yo_Mama Mar 2015 #42

Whatever, it should be low enough to allow debtors to live HereSince1628 Mar 2015 #43

Go to the link and use the calculator - it most certainly is low enough!! Yo_Mama Mar 2015 #46

I said I am not set on a number, whatever it is, and it could go to zero, it should HereSince1628 Mar 2015 #47

If a person's income is not above the poverty threshold, it is ZERO. Yo_Mama Mar 2015 #48

I disagree. nt Logical Mar 2015 #23

That is what the bankers said to the politician ... pbmus Mar 2015 #3

You do realize the banks are obligated to pay back the bail out don't you? still_one Mar 2015 #6

Money for nothing and your MTV ... pbmus Mar 2015 #14

I can think of far better uses for that kind of gigantic wealth transfer. geek tragedy Mar 2015 #5

Sorry, I don't see canceling all student debt as a good thing. The cost has to be paid by someone. Shrike47 Mar 2015 #7

It bothers me to see the specifc debt that people want to forgive gollygee Mar 2015 #8

Because it affects the poor most, and the rich least demwing Mar 2015 #13

It say cancelling all student debt gollygee Mar 2015 #25

to recieve Student Loans you must fill out FAFSA aspirant Mar 2015 #26

There are different kinds of student loans gollygee Mar 2015 #27

This message was self-deleted by its author aspirant Mar 2015 #30

Federal unsubsidized loans are not based on financial need. tammywammy Mar 2015 #33

Message auto-removed Name removed Mar 2015 #34

Subsidized loans are based on financial need, unsubsidized are not. n/t tammywammy Mar 2015 #28

Yes it did demwing Mar 2015 #38

Plenty of wealthy take out stafford and grad loans taught_me_patience Mar 2015 #50

Were you wealthy before your education? /nt demwing Mar 2015 #51

Because the "Affordable Care Act" was supposed to fix the medical debt problem davidn3600 Mar 2015 #35

If corporations are people, aspirant Mar 2015 #9

Sorry, but no. It's a bit of a slap in the face lynne Mar 2015 #11

What about all those that worked hard aspirant Mar 2015 #12

^^ This. ^^ intheflow Mar 2015 #52

Because, some of us are just getting screwed by life circumstances and smirkymonkey Mar 2015 #16

Try getting into IBR aspirant Mar 2015 #24

While I'm sorry for your situation - lynne Mar 2015 #59

+1000, proposing crap like this makes liberals look like idiots. nt Logical Mar 2015 #19

Message auto-removed Name removed Mar 2015 #29

Why not? Geithner had the homeowners 'foam the runway' so banks could make a soft landing. Octafish Mar 2015 #15

K&R - Please sign this, everyone! MrMickeysMom Mar 2015 #17

I don't agree we should cancel it. Maybe lower interest. If we cancel it then someone needs..... Logical Mar 2015 #18

Do you demand stores pay the difference when they have a sale on something you bought a month ago? Scootaloo Mar 2015 #31

Then you may want to cancel out all other debt. Drunken Irishman Mar 2015 #20

As someone with student loans, I don't agree with this. tammywammy Mar 2015 #21

+1000 nt Logical Mar 2015 #22

Can't refinance without income and good credit. davidn3600 Mar 2015 #37

As opposed to borrowing with zero interests rates? MrMickeysMom Mar 2015 #54

On what legal basis would this occur? brooklynite Mar 2015 #32

Signed. LuvNewcastle Mar 2015 #36

I am a bit on the fence about this but... Beearewhyain Mar 2015 #39

+1000 snot Mar 2015 #49

first things first... stop the loans....nt quadrature Mar 2015 #41

Well, this WOULD stop the loans. Yo_Mama Mar 2015 #45

Signed & shared Omaha Steve Mar 2015 #44

1% wallstreeters who spent tons of $$$ on their MBAs looking for another bailout? n/t PoliticAverse Mar 2015 #53

Why single out those people as recipients of largesse? Donald Ian Rankin Mar 2015 #56

Community college debt ? Sure. Uni ? Nah. karadax Mar 2015 #57

Leave the student loan debt intact Orrex Mar 2015 #58

I would be happy paying back what I borrowed. smirkymonkey Mar 2015 #62

Not on board with this at all Ruby the Liberal Mar 2015 #60

What Ruby said. BlueJazz Mar 2015 #61