I remember driving in my car and listening as the DJ explained that you could no longer discharge a student loan debt through bankruptcy. I thought to myself then and still do today: You poor bastards, you are nothing but a debt slaves now.
They will hunt you down to the ends of the earth to get their pound of flesh. Personally I recommend you don’t pay them…none of you. Live meal to meal if you have to. No pain is greater then that of a slave with no hope of freedom. Break your chains…deal with the consequences and be free.
Is anyone compiling a list of lenders who do act fairly on behalf of students?
Likewise, is anyone compiling a list of lenders who are cheating students?
It would help if we knew who to borrow from and who not to borrow from.
Something that never gets mentioned is how banks can buy and sell loans. So whoever you started out borrowing from may not be who you end up paying back. My loan has been bought and sold numerous times. I have no idea what kind of company the current loan servicer is. That’s something else that needs to stop. Loans should not be bought or sold without the debtor’s permission. No one asked me if it was ok to sell my loan to another servicer.
You are absolutely right. Debt should not be fungible. When I first heard of the derivatives built around the mortgages around 2004-5, I knew things were not going to end well–and I have no economic training to claim. Best of luck to you.
It started in Pentagan and Defense Industry and there was no accountability. It trickled down to any industry that was created to easily bilked us taxpayers. A very lucrative start up can make a fortune if they are crooks.
They are government guaranteed loans which is a oxymoron. We the people are the government. Students are we the people and we are being double down on by these corrupt individual who hired a few $10 an hour people to make calls.
Betsy DeVos is your worst nightmare. She is like a many tentacled venomous, basically brainless obscenely wealthy blob of an organism that continues to reach for even more wealth, while in true sociopath style, totally disregarding the great majority of people she is affecting. And as we know, she has zero school or academic credentials. None. I truly hope she sees Hell for her efforts. She speaks so constantly of a Jesus that she will never know. She is probably the worst education secretary the country has ever had. She may be one of the bottom picks on a moral level of any of Trumps appointees, and that’s saying something. I hope she destroys herself before she can destroy our schools.