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Obama student loan policy reaping $51 billion profit
Poast new message in this thread
Date: May 15th, 2013 10:46 AM Author: 180 karate http://www.huffingtonpost.com/mobileweb/2013/05/14/obama-student-loans-policy-profit_n_3276428.html (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202770) |
Date: May 15th, 2013 11:09 AM Author: 180 karate Unlike traditional lenders, though, the Education Department's profits are barely dented by loan defaults. For loans made in 2013 that eventually default, the department estimates it will recover between 76 cents and 82 cents on the dollar. Bankruptcy rarely discharges student debt.
PAYE no problem |
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Date: May 15th, 2013 11:15 AM Author: Big henna theatre wagecucks Nothing to see here folks, just a generation of Shitboomers feasting on the carcasses of their young. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202886) |
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Date: May 15th, 2013 11:32 AM Author: 180 karate Boomers didn't sign the loan papers (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202930) |
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Date: May 15th, 2013 11:33 AM Author: contagious box office 2 parties to a contract bro. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23202937) |
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Date: May 15th, 2013 12:12 PM Author: 180 karate Weak argument (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203044) |
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Date: May 15th, 2013 12:30 PM Author: boyish snowy dysfunction No weaker than arguing choice when the outrageous tuition is an epidemic. Once a problem is widespread enough it's pretty weak to just say "oh well you always have a choice!" Did indentured servants have a choice, too, faggot? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203130) |
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Date: May 15th, 2013 12:22 PM Author: Adventurous submissive garrison Is it your belief that there is nothing wrong with the current state of affairs? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203085) |
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Date: May 15th, 2013 1:42 PM Author: Big henna theatre wagecucks You bootlicker.
Boomers told their kids they had to go to college.
Boomers cause ITE.
Boomers made the loans nondischargeable.
Boomers failed to educate their kids about the loan papers.
Most importantly, FUCKING SHITBOOMERS undertook a series of policies that led to skyrocketing tuition costs that have made college far more expensive for are generations than it was for boomers. Incidentally, much of that increased cost has gone to fund shitboomer bureaucracy at schools all over the country. |
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Date: May 15th, 2013 2:04 PM Author: jet irradiated party of the first part More like bootSTRAP licker, amirite? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203646) |
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Date: May 15th, 2013 2:19 PM Author: Beady-eyed stock car (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203735) |
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Date: May 15th, 2013 12:44 PM Author: twinkling passionate generalized bond (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203196) |
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Date: May 15th, 2013 12:59 PM Author: twinkling passionate generalized bond (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203287) |
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Date: May 15th, 2013 2:12 PM Author: Light mischievous goyim This is probably just total horse shit. My guess is they just counted up all the accrued interest with no regard for what will actually be paid, what will go into default and written off, what will be forgiven, etc. Accrual accounting means nothing. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203708) |
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Date: May 15th, 2013 2:29 PM Author: 180 karate I assume it's based on this projection:
Unlike traditional lenders, though, the Education Department's profits are barely dented by loan defaults. For loans made in 2013 that eventually default, the department estimates it will recover between 76 cents and 82 cents on the dollar. Bankruptcy rarely discharges student debt. |
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Date: May 15th, 2013 2:41 PM Author: Light mischievous goyim 80 cents on the dollar for DEFAULTED loans only? And including interest? ROFL yeah right.
And what about forgiveness? |
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Date: May 15th, 2013 2:42 PM Author: boyish snowy dysfunction You realize the "forgiveness" is of accumulated interest at 8%, right? They should still be getting back most of the principal, if not more in the vast majority of cases. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203846) |
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Date: May 15th, 2013 2:59 PM Author: Light mischievous goyim right...forgiveness of the "profit" that they are counting right now on paper, even though they haven't seen a dime of it and will write it off in 10-20 years. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203946) |
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Date: May 15th, 2013 3:01 PM Author: startling knife not if you mnake $50K a year and take out $300K like millenials are getting hard ons for. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203953) |
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Date: May 15th, 2013 3:27 PM Author: 180 karate Outside of law students, med students, and a few other select areas, the vast majority of borrowers aren't borrowing enough to make PAYE a windfall. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204104) |
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Date: May 15th, 2013 3:34 PM Author: startling knife and yet you are advising everyone to do so in unlimited amounts. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204195) |
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Date: May 15th, 2013 3:36 PM Author: 180 karate Well, the target audience here includes a lot of people with 200K+ debt and little hope of making anywhere near enough to service that debt. Those people may benefit by going for MAX DEBT, yes. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204216) |
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Date: May 15th, 2013 3:30 PM Author: Beady-eyed stock car less than 2% of borrowers owe more than $200K. less than 5% owe more than $100K. you're seeing a reality that doesn't exist. (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204142) |
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Date: May 15th, 2013 3:29 PM Author: Beady-eyed stock car wage garnishment is a powerful thing (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23204133) |
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Date: May 15th, 2013 3:01 PM Author: startling knife Does this have anything to do with payments collected this year, or are they counting some future stream? (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23203957) |
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Date: July 14th, 2013 2:15 PM Author: pale arousing nursing home WGWAG WGWAG ZIMMERHERO WINS LETS POST MORE (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23637119) |
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Date: July 14th, 2013 2:15 PM Author: pale arousing nursing home WGWAG WGWAG ZIMMERHERO WINS LETS POST MORE (http://www.autoadmit.com/thread.php?thread_id=2256628&forum_id=2#23637120) |