346
Many Senior Citizens Expect To Die With College Loan Debts.
(portside.org)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 12 Sep 2023
346 points (98.1% liked)
News
23413 readers
2792 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Dear God this is saddening to read. What just system saddles people with a debt they have no choice but to take on in order to hopefully get a decent enough education to repay the loan, but then fails to account for situations where the borrower's income is not sufficient to be able to afford more than the minimum payments? All the while applying compounding interest on the principal to make sure it'll never be repaid?
And to make it truly evil, makes it so that they can garnish both your wages and pension in case of a default?
Seriously, student loans and medical debt should both be interest free and prorated to the person's income in terms of minimum payments. It's ridiculous to force people into a life of debt slavery just for the shot at a decent education or the right to be healthy.
At least medical debt can be discharged through bankruptcy. You can't even escape from student loans by going bankrupt.
Which is probably the most ridiculous thing ever. Bankruptcy should treat all debtors equally, and we should treat personal bankruptcy similar to corporate bankruptcy. Instead of creating classes of debt that survive a bankruptcy by default, how about we just include them all into the debt restructuring process? Figure out what the person can and can't pay and make a plan based on that? It just feels exploitative to make some debts exempt from having to do that.