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Illinois programs scrubs student loans for people who buy a home

Wow. So basically the people with the generational wealth that already gives them a leg up on attending college and getting a mortgage in the first place are now getting that tuition paid for at the expense of the taxpayers that struggle to pay rent.

This capitalism shit is a joke. And mad racist.
 
ALLBUILDINGSMATTER! said:
All IHDA programs require a mid-score of 640. This means of the three credit bureaus the score that is neither the highest or the lowest applies.

Borrowers with less than three scores may still be eligible, in which case the lowest of the two (or one) will apply.

This is a win.
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The sentences you just wrote make absolutely no sense. Grammatically or logically.
 
SneakDZA said:
Wow. So basically the people with the generational wealth that already gives them a leg up on attending college and getting a mortgage in the first place are now getting that tuition paid for at the expense of the taxpayers that struggle to pay rent.

This capitalism shit is a joke. And mad racist.
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What's even worse, is a lot of these loans went to majors whose jobs don't generate enough income to justify the loan amount.


Also, where do you draw the line on this?


Not just talking about the Illinois situation, but in general with this call for student loan forgiveness.


Sounds good on the surface, but where does it stop?


Meaning, you forgive student loans..........what about people with mortgage debt.........credit card debt.........car loan debt?


Why should the taxpayer have to pay for somebody who racked up over $100,000 in student loan debt for a major in "women's studies" or any other bullshit major that doesn't make money?
 
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deadeye said:
What's even worse, is a lot of these loans went to majors whose jobs don't generate enough income to justify the loan amount.


Also, where do you draw the line on this?


Not just talking about the Illinois situation, but in general with this call for student loan forgiveness.


Sounds good on the surface, but where does it stop?


Meaning, you forgive student loans..........what about people with mortgage debt.........credit card debt.........car loan debt?


Why should the taxpayer have to pay for somebody who racked up over $100,000 in student loan debt for a major in "women's studies" or any other bullshit major that doesn't make money?
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It can start there and end there. The government subsidized a lot of this fraudulent debt then changed the laws so it couldn't be bankrupted.. All while knowing most of the degrees and tuition these colleges charge for is bullshit. If you have excessive credit card or mortgage debt, you can file for bankruptcy or let the house go to foreclosure. Cant do that with student loans
 
Koltrain said:
It can start there and end there. The government subsidized a lot of this fraudulent debt then changed the laws so it couldn't be bankrupted.. All while knowing most of the degrees and tuition these colleges charge for is bullshit. If you have excessive credit card or mortgage debt, you can file for bankruptcy or let the house go to foreclosure. Cant do that with student loans
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Bankruptcy and foreclosure aren't the same as loan forgiveness.


Simply because of how it would affect your credit score/history.


Loan forgiveness doesn't have the same detriment.


So it wouldn't be right to forgive student loan debt and not other forms of debt.


Main reason why it'll never happen.


Political suicide.
 
deadeye said:
Bankruptcy and foreclosure aren't the same as loan forgiveness.


Simply because of how it would affect your credit score/history.


Loan forgiveness doesn't have the same detriment.


So it wouldn't be right to forgive student loan debt and not other forms of debt.


Main reason why it'll never happen.


Political suicide.
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There's a credit hit but you can recover from that over time. The Bush administration specifically changed the bankruptcy laws so that student loans can't be discharged in bankruptcy. This is not like any other debt.. Student Loan forgiveness has already begun... For some borrowers who went to one of these for-profit universities who were fraudulent or shut down.. It's not gonna end there
 
Koltrain said:
There's a credit hit but you can recover from that over time. The Bush administration specifically changed the bankruptcy laws so that student loans can't be discharged in bankruptcy. This is not like any other debt.. Student Loan forgiveness has already begun... For some borrowers who went to one of these for-profit universities who were fraudulent or shut down.. It's not gonna end there
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They changed the laws because too many people took advantage of them and abusing the system.


Mainly future doctors and lawyers from what I can remember.


Ironic, though, that these people were actually making more than enough to be able to pay off their loans.


Well, the doctors definitely were.


The lawyers were probably hit or miss.


Never understood the appeal of those for-profit colleges.


Community colleges would make more sense.
 
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