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Another Federal Program in the Red, . . .

pjstroh
pjstroh
Apr 10, 2016
1:13pm
Block User
Quote
Originally posted by: jphelan
Why is it OK to default on payments to the government but not to a bank? For some reason, the IRS will put you in jail for not paying, but a college student can default? WTF!

When a society decides only to apply penalties for certain laws, the society will become lawless.

1) Immigration
2) College Loans
3) Wall Street Fraud
4) City streets closed for protests without a permit

Somehow, the laws only apply to people who follow the laws!


The great businessman you are going to vote for in November has mastered the art of not paying back money loaned to him from a bank.
jatki
jatki
Apr 10, 2016
1:37pm
Block User
Quote
Originally posted by: billryan
No one defaults on loans to a bank? You might want to reconsider that thought.
The penalties for defaulting on a Federal Student loan are pretty strict.
They withhold any tax refunds you might otherwise get, they can deny you any license you might need- medical, financial, put liens on your property and as far as I know you cant discharge them thru a bankruptcy in almost all cases.


They never threatened me with any of those things. I ignored my $600 dollar loan for several years and when I got married, my wife (the responsible one) talked me into paying it off. I called and they were so grateful I called, I didn't even have to pay the full amount, they set me up on an interest free payment plan for a total of like 400 bucks. That was the end of it.
alanleroyII
alanleroyII
Apr 10, 2016
1:43pm
Block User
Quote
Originally posted by: jphelan
Why is it OK to default on payments to the government but not to a bank? For some reason, the IRS will put you in jail for not paying, but a college student can default? WTF!

When a society decides only to apply penalties for certain laws, the society will become lawless.

1) Immigration
2) College Loans
3) Wall Street Fraud
4) City streets closed for protests without a permit

Somehow, the laws only apply to people who follow the laws!
Defaulting on a loan isn't illegal. It's bad financial management. We don't have debtor prisons anymore.

billryan
billryan
Apr 10, 2016
2:12pm
Block User
Quote
Originally posted by: jatki99
Quote
Originally posted by: billryan
No one defaults on loans to a bank? You might want to reconsider that thought.
The penalties for defaulting on a Federal Student loan are pretty strict.
They withhold any tax refunds you might otherwise get, they can deny you any license you might need- medical, financial, put liens on your property and as far as I know you cant discharge them thru a bankruptcy in almost all cases.


They never threatened me with any of those things. I ignored my $600 dollar loan for several years and when I got married, my wife (the responsible one) talked me into paying it off. I called and they were so grateful I called, I didn't even have to pay the full amount, they set me up on an interest free payment plan for a total of like 400 bucks. That was the end of it.


There is no time frame for them to collect. It doesn't make sense to try and collect $600, when they can wait and take it out of your taxes whenever they get around to it.

LurkerPoster
LurkerPoster
Apr 10, 2016
3:55pm
Block User
Quote
Originally posted by: Boilerman
if the student was planning to attend any college to study History, or even worse, African American History, not a bank on Earth would touch that loan.


But, but, but, don't y'all call Boiler a racist now. Since he has one black friend........
billryan
billryan
Apr 10, 2016
9:11pm
Block User
Those who do not learn from history are doomed to repeat it.
Boilerman
Boilerman
Apr 10, 2016
10:12pm
Block User
Marcis, my buddy would forbid his kids from studying African American History in college. Feel free to call me a racist, however.

Quote
Originally posted by: LurkerPoster
Quote
Originally posted by: Boilerman
if the student was planning to attend any college to study History, or even worse, African American History, not a bank on Earth would touch that loan.


But, but, but, don't y'all call Boiler a racist now. Since he has one black friend........


LurkerPoster
LurkerPoster
Apr 11, 2016
12:45am
Block User
Quote
Originally posted by: Boilerman
Marcis, my buddy would forbid his kids from studying African American History in college. Feel free to call me a racist, however.

Quote
Originally posted by: LurkerPoster
Quote
Originally posted by: Boilerman
if the student was planning to attend any college to study History, or even worse, African American History, not a bank on Earth would touch that loan.


But, but, but, don't y'all call Boiler a racist now. Since he has one black friend........


Ohhhh he would forbid it......Now I understand why he's your friend. Does he hit his kids as well when they do something he doesn't like? Wait, don't anwer that. He probably does because otherwise he wouldn't be friendship material for you.....
CowboyKell
CowboyKell
Apr 11, 2016
3:50am
Block User
Quote
Originally posted by: LurkerPoster
Quote
Originally posted by: Boilerman
Marcis, my buddy would forbid his kids from studying African American History in college. Feel free to call me a racist, however.

Quote
Originally posted by: LurkerPoster
Quote
Originally posted by: Boilerman
if the student was planning to attend any college to study History, or even worse, African American History, not a bank on Earth would touch that loan.


But, but, but, don't y'all call Boiler a racist now. Since he has one black friend........


Ohhhh he would forbid it......Now I understand why he's your friend. Does he hit his kids as well when they do something he doesn't like? Wait, don't anwer that. He probably does because otherwise he wouldn't be friendship material for you.....


I finally see the problem! You just needed the shit knocked out of you a few times as a kid and it never happened.
alanleroyII
alanleroyII
Apr 11, 2016
4:14am
Block User
Spare the rod...It's even in 'The Good Book'.
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