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It’s comedic to see the IBJ/AP support financial irresponsibility.
I agree – I would love to see some articles about PPP loans being paid back to the tax payers in full.
Companies should have closed down instead of relying on Trump socialism checks.
lol Pete out here gettin’ dunked on!
Never understood this concept of not having to pay your debts. Nobody held a gun to these people’s heads when they signed their student loan. I paid mine; I’m not paying for yours.
Agree with you on this point Dominic but also think that personal and business bankruptcy laws are far too generous and without much penalty. I have known several people that used personal bankruptcy to get ahead without suffering many consequences. As a result, they are better off than me who believes in paying his debts.
to be fair – we as a society did hold a gun to these 17 year old childrens heads and said sign this or you will never succeed in life.
Also – your rate is now 11% after we told you it was 4% – thanks for subsidizing the government!
If you borrow money pay it back.
Lot of rich, privileged people suddenly talking about “if you borrow money….blah blah blah”. We lose billions per year from tax-cheats(said rich people) and even our Congressional leaders don’t pay their money back(PPP loans)- but yeah, let’s make an example of the students!
I completely agree with this ruling. Those who borrowed money need to pay it back. However I haven’t heard of any legislation to fix the PROBLEM. The student loan industry has been preditory and needs regulations to stop increasing interest rates and compounding interest.
I would suggest a ‘pool’ of loan money with a low (reasonable) fixed interest rates and easy-to-understand (transparent) information on repayment. Defaulting on your loan should continue to be denied. This CANNOT be managed by the government or a government agency though. It needs to be managed by private industry and there should be modest bonuses for keeping the money flowing back in from borrowers.
I do believe there are people who have been caught up in the rising and compounding interest rates who deserve some one-time relief to get them back to a reasonable loan balance and payment schedule.
There has to be a better way.
So we should nullify bankruptcy permanently. I love this plan.
Do not let corporations get out of debt – force the owners to pay their debts in full and send them to debtors prison if they can’t.
All PPP loans should be paid back by Dec31 2023 or the government should just seize the business and auction it off to relieve tax payers.
I agree, the interest rates seem crazy. I’d be ok with renegotiating those, but the principle should be paid. However, I’d also be ok with forgiveness on loans for public teachers and first responders that go to college and then work in that state for X number of years. What other incentive is there for public universities to retain the graduates in the funding state?
Side Note: PPP was not a loan, so nothing to repay. If employees that were paid during the time period, many that didn’t work, want to return the money, I’m sure we can get businesses to return.
Meanwhile we have a lot of TV ads by Mr. Wonderful of the Shark Tank Tv Show urging business owners to call him to get free government money for employing 4 or more W2 employees during a pandemic . Up to 26K per employed person .
Student loans?? Sorry I already bought a new car! My payment is $735 per month. It’s a sweet ride.