The Student-Loan Bubble Is Creating a Generation of Indentured Servants

The Florida Board of Health has suspended thousands of healthcare licenses over defaults on student loans many used to earn their licenses. ... The revocation of licenses came after the student loan industry lobbied the government to enact punishments for those who can’t or won’t repay the money they borrowed. ... The state also has the power to garnish up to 100% of a worker’s wages until the loan is repaid and the license is reinstated. Under Florida law, once the state suspends a license for student loan default, the only way to get it back is to pay a fine equal to 10 percent of the balance, plus other costs. ...
 
timosman said:
https://twitter.com/BernieSanders/status/1143178550192869377

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Bernie Sanders says he will write off the entire $1.6 Trillion dollar student loan tab if he is elected. At the same time he will make all public universities, community colleges, and trade schools free. Bear in mind, if Cabal controls admissions, this basically is saying you will be paying for free university degrees for Cabal-member’s kids, while your kids fail to get in.
 
Zippyjuan said:
What is the solution?

Maybe government should make all school including college free so people don't have to borrow any money. Bernie Sander's solution.

Or government could pay off the debt for them. Or government regulation of tuition rates?

Or free market where schools charge whatever they can get away with and students free to borrow as much (or as little) as they choose?
Click to expand...

Free market .
 
Free market is letting the kids who can't pay back the loans to default, letting the banks who loaned money to kids with no assets go out of business, and let the universities taking in profits off of worthless degrees go out of business and the professors get real jobs. Maybe the kids, banks and professors can all learn to code.
 
Zippyjuan said:
Are people required to take out loans- or do they choose to?
Click to expand...

I do not think people should be taking loans but if they do those loans should not be from taxpayers . It is immoral for the govt to be loaning money taken in taxes while they add to the debt . That is not American Greatness that is the road to third world .
 
The dems are about to run a candidate that is going to add all this debt to the debt and about half the country is going to vote for him . Everyone on this board should find that disturbing .
 
oyarde said:
The dems are about to run a candidate that is going to add all this debt to the debt and about half the country is going to vote for him . Everyone on this board should find that disturbing .
Click to expand...

I find it disturbing we have been overrun by commies. :tears:
 
oyarde said:
I do not think people should be taking loans but if they do those loans should not be from taxpayers . It is immoral for the govt to be loaning money taken in taxes while they add to the debt . That is not American Greatness that is the road to third world .
Click to expand...

The student loan program is administered by the government (and I am not arguing that it should be run by them) but it is self-funding. Payments including interest from existing borrowers funds new loans- they don't get tax dollars.
 
They are paid by printing fake currency into existence. So, it is paid by tax dollars, by inflation and public debt.
 
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