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Reply #105: Suzie Orman said that it's in the works to allow student debt [View All]

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Gin Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-18-11 05:56 PM
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105. Suzie Orman said that it's in the works to allow student debt
as part of a BK.....she said it won't be too long...keep paying the loans as much as you can...relief is in sight.

just sayin....
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  -Please sign the forgiveness of student loan debt petition, and pass on this msg. further. Thanks. Cal33  Oct-18-11 09:48 AM   #0 
  - recommend  xchrom   Oct-18-11 09:50 AM   #1 
  - Nice idea, but it's not going to happen  MadHound   Oct-18-11 09:52 AM   #2 
  - It depends on how the bill is worded - giving certain protections to smaller lending institutions -  Cal33   Oct-18-11 09:58 AM   #4 
  - Do you honestly think that our bought and paid for government would pass such a law?  MadHound   Oct-18-11 10:01 AM   #5 
  - The only reasonable thing to do is to try our best, then wait and see.  Cal33   Oct-18-11 10:06 AM   #10 
     - Horrible idea  Nuclear Unicorn   Oct-18-11 01:31 PM   #73 
        - The lenders don't really lose, since the loans are backed by the federal gov't. In  Cal33   Oct-18-11 03:04 PM   #78 
           - Yes. And that means we the taxpayers would assume more public debt  Nuclear Unicorn   Oct-18-11 03:22 PM   #79 
  - What sort of "certain protections"?  pipi_k   Oct-18-11 10:07 AM   #11 
     - Let me make a stab in the dark at attempting a solution: How about  Cal33   Oct-18-11 10:23 AM   #17 
        - But that sounds like  pipi_k   Oct-18-11 11:02 AM   #37 
           - of course  sweetapogee   Oct-18-11 12:03 PM   #48 
           - The guy who ordered a sandwich should be paying the smaller percentage - his percentage. :)  Cal33   Oct-18-11 12:11 PM   #52 
           - The student who went to a state or community college paid less to begin with., so the  Cal33   Oct-18-11 12:19 PM   #55 
              - The point would be  lolly   Oct-18-11 04:56 PM   #98 
           - The reply I sent to you was wrongly sent to post #48, right below yours. Sorry.  Cal33   Oct-18-11 12:14 PM   #53 
  - government doesn't have the power to do it either  Uben   Oct-18-11 10:08 AM   #12 
  - Giving them a longer time and also at a lower interest rate would certainly  Cal33   Oct-18-11 10:27 AM   #19 
  - By God, let's bring back debtors' prisons while we're at it. And  coalition_unwilling   Oct-18-11 10:33 AM   #23 
     - Corrections Corporation of America would love to lock them up...  Tippy   Oct-18-11 10:41 AM   #27 
     - That's what I was taught.....  Uben   Oct-18-11 10:44 AM   #28 
     - You grant that there is a "need for bankruptcy laws in certain  coalition_unwilling   Oct-18-11 11:52 AM   #45 
     - How can you 'give back' the education if the debt is discharged through BK?  Lance_Boyle   Oct-18-11 11:16 AM   #40 
     - Oh, man, do you need an education in what bankruptcy is for. Hint:  coalition_unwilling   Oct-18-11 11:55 AM   #46 
        - So I can go out today and finance a new Maserati  Lance_Boyle   Oct-18-11 01:03 PM   #65 
           - Generally speaking, car loans are secured by the car itself, so  coalition_unwilling   Oct-18-11 01:10 PM   #68 
              - In bankruptcy the debt is either restructured or the assets are sold off  Nuclear Unicorn   Oct-18-11 03:34 PM   #81 
                 - Why do I feel like I'm being tag-teamed here? If you spend $60,000  coalition_unwilling   Oct-18-11 04:03 PM   #84 
                    - You aren't being tag-teamed and sorry if it feels that way.  Nuclear Unicorn   Oct-18-11 04:32 PM   #94 
                       - Well said. n/t  ChazII   Oct-18-11 05:03 PM   #99 
                       - Instead of an MBA, PhD or BS  Pigheaded   Oct-19-11 07:17 PM   #147 
                       - Your final sentence reminds me of some words of wisdom from  coalition_unwilling   Oct-18-11 06:12 PM   #111 
                          - Wow! I've been compared to Lincoln! I'm going to quit while I'm ahead  Nuclear Unicorn   Oct-18-11 06:27 PM   #112 
     - A human life in the old days wasn't worth much, was it? But money did. And that's the  Cal33   Oct-18-11 12:22 PM   #56 
  - Do something, anything, to demand positive change. That is how change occurs.  Fire Walk With Me   Oct-18-11 12:06 PM   #50 
  - It's GOING to happen, whether there's a LAW or not. The loans simply aren't going to be paid.  saras   Oct-18-11 01:26 PM   #71 
  - FRAUD is a centerpiece of the Student Loan scam...  GReedDiamond   Oct-18-11 11:25 PM   #131 
  - k & r  DoBotherMe   Oct-18-11 09:54 AM   #3 
  - DU seems undecided on this topic...  Scuba   Oct-18-11 10:02 AM   #6 
  - Sadly, much of that indecision is embarassingly self-centered.  Lyric   Oct-18-11 10:35 AM   #25 
     - Aren't both sides self centered? Your statement is sure chutzpah.  county worker   Oct-18-11 10:56 AM   #34 
     - There needn't be two polarized sides.  EFerrari   Oct-18-11 11:06 AM   #39 
     - Asking for student loan forgiveness is -  lynne   Oct-18-11 12:59 PM   #61 
        - I think too many of us are asking for a law that is perfectly fair. Humans are  Cal33   Oct-18-11 01:28 PM   #72 
        - really, just let me know before it happens  hfojvt   Oct-18-11 05:04 PM   #100 
        - Yep, that's exactly what I'm saying.  a la izquierda   Oct-18-11 09:56 PM   #127 
  - How much would that increase the national debt?  Freddie Stubbs   Oct-18-11 10:02 AM   #7 
  - about $1.1 trillion  IndyPragmatist   Oct-18-11 10:04 AM   #9 
  - exactly, and those loans were other peoples money  Puzzledtraveller   Oct-18-11 12:08 PM   #51 
  - Another trillion dollars to the banks! YAY!  IndyPragmatist   Oct-18-11 10:04 AM   #8 
  - The banks will get bailed out either way.  girl gone mad   Oct-18-11 12:23 PM   #57 
  - Well, devil's advocate here  lolly   Oct-18-11 10:10 AM   #13 
  - I said this the other day...  pipi_k   Oct-18-11 10:19 AM   #15 
  - heh - I guess I am one you are talking about  nadine_mn   Oct-18-11 10:28 AM   #21 
  - I still owe about 24,000 out of the 30 some I borrowed and I'd prefer to pay it back.  phleshdef   Oct-18-11 10:14 AM   #14 
  - Student loan forgiveness would give recent grads a 5-10 year head start over earlier grads  Romulox   Oct-18-11 10:23 AM   #16 
  - Kids at expensive private colleges will be the winners  mainer   Oct-18-11 10:23 AM   #18 
  - Human laws are not perfect, nor will they ever be. By the way, what would you think of  Cal33   Oct-18-11 10:53 AM   #33 
     - I wish education were less expensive for everyone  mainer   Oct-18-11 11:22 AM   #42 
  - At the very LEAST, the law should change so that student loan debt can be discharged via bankruptcy  Lyric   Oct-18-11 10:27 AM   #20 
  - That's true.  undeterred   Oct-18-11 11:22 AM   #41 
  - That would be unfair to those who go through BK and don't get to keep  Lance_Boyle   Oct-18-11 11:32 AM   #44 
  - I don't see that as any less fair than the current situation  fishwax   Oct-18-11 12:04 PM   #49 
  - The guy with the business needs a new loan for new equipment to start over.  Lance_Boyle   Oct-18-11 01:05 PM   #66 
     - He gets to start over without debt -- he may have difficulty starting his own business, but so will  fishwax   Oct-18-11 01:12 PM   #69 
        - The guy with the education debt gets to keep what he couldn't pay for  Lance_Boyle   Oct-18-11 01:31 PM   #74 
        - I understand that. But I don't see it as any less fair than the current system.  fishwax   Oct-18-11 03:00 PM   #77 
           - I see.  Lance_Boyle   Oct-18-11 03:25 PM   #80 
        - He may get to start over debt-free but his credit is shot because he has a recent BK  Nuclear Unicorn   Oct-18-11 03:40 PM   #82 
           - That would also be true of the student if he went through bankruptcy n/t  fishwax   Oct-18-11 04:00 PM   #83 
              - How would a bankruptcy keep an MBA from counting beans?  Nuclear Unicorn   Oct-18-11 04:10 PM   #87 
                 - I don't know when the guy became an MBA  fishwax   Oct-18-11 04:16 PM   #90 
                    - Well, the point is an education cannot be liquidated.  Nuclear Unicorn   Oct-18-11 04:37 PM   #95 
                       - Yes, I understand that an education cannot be liquidated. I don't agree that allowing discharge of  fishwax   Oct-18-11 05:06 PM   #101 
                          - Except someone deposited money into the bank that made the loan  Nuclear Unicorn   Oct-18-11 05:30 PM   #104 
  - Way too logical for this post. +1000  Logical   Oct-18-11 06:09 PM   #109 
  - Yes.  InvisibleTouch   Oct-18-11 01:01 PM   #63 
  - Now that is something that could make sense to me  LynneSin   Oct-18-11 04:09 PM   #86 
  - Well the government could buy the loans. Hell, we spend that much on wars.  white_wolf   Oct-18-11 10:28 AM   #22 
  - Yes, such as the way they do it in Germany and France. Please see my post 33 in this thread.  Cal33   Oct-18-11 11:06 AM   #38 
  - Signed and reposted to Facebook  Lyric   Oct-18-11 10:34 AM   #24 
  - Many thanks.  Cal33   Oct-18-11 10:36 AM   #26 
  - Is that fair to people who had loans and paid them off or to future students who will need loans ?  county worker   Oct-18-11 10:45 AM   #29 
  - K&R'd  ileus   Oct-18-11 10:45 AM   #30 
  - The congress has essential "given"trillions to banks, oil&gas, insurance  Turn CO Blue   Oct-18-11 10:47 AM   #31 
  - Right you are. A new law could at least lower the interest rate on loan to students  Cal33   Oct-18-11 11:02 AM   #35 
  - The old saying is true if it sounds to good to be true it probably is  Tippy   Oct-18-11 10:51 AM   #32 
  - what they really need to do is at least allow you to refinance.  dionysus   Oct-18-11 11:02 AM   #36 
  - Done, K and R.  geardaddy   Oct-18-11 11:25 AM   #43 
  - Many thanks.  Cal33   Oct-18-11 12:01 PM   #47 
  - Lowering interest rates,  HappyMe   Oct-18-11 12:17 PM   #54 
  - That's another way of looking at it. But, whatever the system, not everyone will be satisfied.  Cal33   Oct-18-11 12:30 PM   #58 
  - This idea is self-serving and unfair on a number of levels.  badtoworse   Oct-18-11 12:37 PM   #59 
  - Only if you sign one to release me from my mortgage and let me keep my house -  lynne   Oct-18-11 12:56 PM   #60 
  - Much rather see programs started  Spike89   Oct-18-11 01:01 PM   #62 
  - Unless a debt is from a situation or contract not freely entered into, no.  TwilightGardener   Oct-18-11 01:03 PM   #64 
  - all debt should be wiped out every 50 years  Bill McBlueState   Oct-18-11 01:06 PM   #67 
  - K&R Done!  Desertrose   Oct-18-11 01:19 PM   #70 
  - Why? To give "new workers" more $? Why not just send out checks to EVERYONE?  Honeycombe8   Oct-18-11 01:32 PM   #75 
  - Yep. Anyone who went to law or med school, or a private school, would certainly love this, LOL.  TwilightGardener   Oct-18-11 01:35 PM   #76 
  - I'm a compassionate person but really?  LynneSin   Oct-18-11 04:09 PM   #85 
  - explain please why these people should get a free  MISSDem   Oct-18-11 04:12 PM   #88 
  - Because a civilized country values education  Matariki   Oct-18-11 04:19 PM   #91 
  - Exactly.  white_wolf   Oct-18-11 04:42 PM   #96 
     - That's a distortion of the argument  lolly   Oct-18-11 05:09 PM   #102 
        - I think that's a really good example of CLASS WARFARE  Matariki   Oct-18-11 08:43 PM   #117 
           - And you want to pay for educating the rich?  mainer   Oct-18-11 09:12 PM   #120 
              - What I want for America is for college to be affordable  Matariki   Oct-18-11 09:54 PM   #125 
              - Why assume "best" = "private?"  lolly   Oct-18-11 11:00 PM   #129 
              - ps - also to answer your question - yes.  Matariki   Oct-18-11 09:56 PM   #126 
  - Because some liberals think all loans are evil and everything should be free!  Logical   Oct-18-11 06:10 PM   #110 
  - Because they're going to change your diapers when you're old,  wickerwoman   Oct-19-11 01:31 AM   #133 
  - Because of the current economic circumstances. Isn't that obvious  juajen   Oct-19-11 03:53 AM   #134 
  - For starters we need to get rid of the bankruptcy and statute of limitations clauses.  Matariki   Oct-18-11 04:15 PM   #89 
  - I will if I can have my mortgage and car  MISSDem   Oct-18-11 04:19 PM   #92 
  - I'm a member of MoveOn but I have a question  Matariki   Oct-18-11 04:25 PM   #93 
  - Not a chance. I've paid back every penny (plus interest) of every loan I've ever taken out.  Abin Sur   Oct-18-11 04:49 PM   #97 
  - +1000...many here are in the mode that all loans are evil. It makes liberals look.....  Logical   Oct-18-11 06:04 PM   #108 
  - I worked my ass off to pay off my student loans  Generic Brad   Oct-18-11 10:19 PM   #128 
  - No. Let them consolidate at a very low rate ... extend the period ...  JoePhilly   Oct-18-11 05:25 PM   #103 
  - Suzie Orman said that it's in the works to allow student debt  Gin   Oct-18-11 05:56 PM   #105 
  - what's a BK?  Matariki   Oct-18-11 08:44 PM   #118 
     - (BK) bankruptcy.....she is a money lots of financial advice  Gin   Oct-18-11 09:25 PM   #122 
  - I'm with you!  minavasht   Oct-18-11 05:59 PM   #106 
  - In bankruptcy, there are secured loans and unsecured loans.  juajen   Oct-19-11 04:13 AM   #135 
     - Oh, don't get me wrong, I got my masters  minavasht   Oct-19-11 09:04 PM   #151 
  - No I will not! My brother worked two jobs to pay his off just last year. And....  Logical   Oct-18-11 06:02 PM   #107 
  - "I got mine..."  Matariki   Oct-18-11 06:53 PM   #113 
     - More like "I paid for mine."  mainer   Oct-18-11 06:54 PM   #114 
     - That's right  minavasht   Oct-18-11 07:47 PM   #116 
        - America would do well to foot that bill  Matariki   Oct-18-11 08:48 PM   #119 
           - Dup - Delete  Logical   Oct-18-11 09:16 PM   #121 
           - Is this a discussion about the war spending?  minavasht   Oct-19-11 08:45 PM   #150 
  - Done - thanks!  Raksha   Oct-18-11 07:02 PM   #115 
  - Done. Hopefully in the future, quality education from K through  Cleita   Oct-18-11 09:28 PM   #123 
  - +1  Matariki   Oct-19-11 12:33 AM   #132 
  - I signed it  Worship Money   Oct-18-11 09:31 PM   #124 
  - K&R and signed!  Blasphemer   Oct-18-11 11:14 PM   #130 
  - I wouldn't call for forgiveness because what does that say for the  WCGreen   Oct-19-11 04:17 AM   #136 
  - Yep, exactly.  Lyric   Oct-19-11 07:03 AM   #143 
  - This bothers me  MFrohike   Oct-19-11 04:28 AM   #137 
  - another problem is that universities take advantage of grad students  RainDog   Oct-19-11 05:54 AM   #138 
     - If universities paid grad students a living wage, tuition would go up  mainer   Oct-19-11 06:42 AM   #139 
        - what do administrators do to earn their salaries?  RainDog   Oct-19-11 06:48 PM   #146 
  - Why not all loans?  ecstatic   Oct-19-11 06:45 AM   #140 
  - Because if everything falls apart, other loans CAN be forgiven. Via bankruptcy.  Lyric   Oct-19-11 07:01 AM   #142 
     - As long as the education loans are forgiven via bankruptcy as well  ecstatic   Oct-19-11 08:40 AM   #145 
  - This affects small numbers. Why not push universal health care instead?  mainer   Oct-19-11 06:47 AM   #141 
  - Ask the corporatists. I'm with you. I'm all for universal health care.  Cal33   Oct-19-11 07:36 AM   #144 
  - Done!  trayfoot   Oct-19-11 07:19 PM   # 
  - Done!  trayfoot   Oct-19-11 07:19 PM   #148 
  - Done!  MoonRiver   Oct-19-11 07:22 PM   #149 

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