re: student loan forgiveness

 At the bakery where I ate breakfast this morning, I overheard another geezer ranting about student loan forgiveness. Why not forgive home loans? Why not auto loans? Why not all loans?

Look, when you take out a mortgage, the house is collateral. If you default on your mortgage, the lender can repossess your house and sell it to someone else. Likewise for auto loans or loans to buy furniture.
It is very difficult to discharge student loans through bankruptcy. If you default, what is the collateral? Can the lender repossess your diploma and sell it to someone else? What if you never graduated?
The comparison between student loans and other loans with collateral that can be discharged through bankruptcy is specious and ignorant. I did hear this geezer say he was quoting stuff he heard on Breitbart. Well, if you get your "facts" from a right-wing propaganda outlet, no wonder you're confused.
Ultimately, the solution is to make student loans dischargeable through bankruptcy, like other loans and shift the risk to the lender, where it belongs.

Comments

Post a Comment

Popular posts from this blog

Two sides

Image
  Yes, there are two sides to every question. In most cases, there is a correct side and a wrong side. In the case of Kamala Harris, the correct side is that she was born a US citizen. The wrong side is that her parents had to be citizens or permanent residents for her to be a citizen. President Trump pretended to be unsure about this, just as he pretended for five years that Barack Obama is not a citizen. In the case of the Harris noncitizen claim, it is backed by the racist C laremont Institute: "The Claremont Institute masquerades as an intellectual salon of the right, but it is really just a racist fever swamp with deep connections to the conspiratorial alt-right. It even granted a fellowship to Jack Posobiec, who helped promote the notorious Pizzagate conspiracy theory. Claremont’s resident bigots offer deranged fantasies of violently expelling Americans from their home country because of their ethnic backgrounds. Their work deserves the intellectual weight given to that of D...
Read more

Who chooses?

Over at jabberwocking.com , Kevin Drum blames pro-choice writers for failing to make the case for reproductive choice. Well, from everything I've read, a clear majority of Americans believe that Roe should still stand. Seems like the case has been made, and if we lived in a truly representative democracy, a limited national right to abortion would be preserved. But beyond that reality, I think Drum has it exactly backwards. Why does the burden of proof fall on those advocating for personal autonomy? Seems to me the null hypothesis is that women should be allowed to make decisions about their own health, and that the justification for nanny state intrusion into such decisions rests with the minority who assert state coercion. Democrats need to hammer on the right-wing GOP to explain why the government takes temporary custody of pregnant Americans. https://jabberwocking.com/liberals-really-suck-at-defending-abortion/
Read more

Black Earth

 Just finished reading “Black Earth: The Holocaust as history and warning” by Timothy Snyder. It is a detailed account of the Holocaust, as well as an effort to abstract lessons from this history for our time. Like his book “Bloodlands,” Snyder’s “Black Earth” makes for painful reading. As the grandson of a Ukrainian Jew and the son of a Jew, I would have been targeted in the Holocaust had I been in the wrong place. I had read several histories of Europe in World War II that included the Holocaust. I knew the basic story of the Holocaust and Hitler’s anti-Semitic vision. I learned a great deal by reading this book. I won’t belabor the ghoulish atrocities committed by the Nazis and their collaborators. To summarize them here would be to trivialize the enormity of the crimes and invite pointless debate about who did what and who suffered more. You’ll have to read the book to understand Snyder’s historical insights. However, I learned many things that I did not know by reading thi...
Read more