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.
Yes. The point is, hiring (or creating) processors that don't do shitty things to harass people to repay their loans is basically letting people de-facto default. Which is fine, though not nearly as good as formally letting people default. There's a reason neither has been done.
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You're complaining about this big mean dog that's biting your leg, and you want the dog's owner to get a nicer friendlier dog. But there is a reason the dog's owner got a mean dog and sicced it on you in the first place! The govt. wants its money back!
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Right, but this point is undercut by the fact that: 1) Abuse was bad 2) Obama era protections, Consumer protection board caused a drop 3) Elimination/Restriction of those things caused abuses to leap up again It means that there is something wrong with the way its being done.
End of conversation
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Yes, I agree. My argument was not to eliminate repayment enforcement, but to rein in the crappy behavior. Like, they do similar shit to, say, Wells Fargo - soaking people with bullshit fees, being deceptive...but I still think there shoud be banks.
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I agree. They should. They should also forgive part of student debt. BUT. Student loans are 45% of the federal govt.'s financial asset portfolio. So it's understandable that they don't want to do this.
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It will probably be possible to force govt. to forgive some part of student loans. BUT, in the long term, getting govt. out of the student loan business - as much as I'd like govt. to take a more active role in other areas of finance - seems like an important thing to do.
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And getting govt. to forgive even a little bit of student loans will be a very very hard task, politically.
End of conversation
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