Right, it's a middleman industry that adds no real value and as the regulations weaken, become more and more predatory. There's no reason the gov't can't process directly. There's likely a way to do it much more simply through the IRS - assuming they were staffed and funded.
So, it looks to me as if you thought the interest on loan debt goes to private companies, which isn't right.
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Fair enough, that was poorly written. Trying to cram into 280. -Interest is a huge burden. Forgiving it is less expensive than forgiving the entire loan and would help many many people -I find charging interest on these loans incredibly objectionable given the predatory -
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- Private industry built off this system.
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I'm fine with forgiving interest but it has nothing to do with third-party payment processors. That interest goes to the government.
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Sure, there are two separate points that I conflated in my tweet. -Interest forgiveness as opposed to complete forgiveness given the incredible cost of total forgiveness. -System has generated an immense amount of predatory behavior.
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I'm fine with cracking down on predatory behavior but it in no way is responsible for the student loan crisis, thus is a red herring in the discussion of loan forgiveness. Now, we are done.
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Ok, man. I never said it was responsible for the crisis. I said it was the most objectionable part.
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I just wish you would "doubt that" more.
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Yes, definitely the guy asking "what predatory behavior" in a discussion about student loans who holds the high ground.
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