Trump straight up lied about freezing student loan interest. Just like he did about the "google" website, and testing availability. I know from multiple people who have called their loan providers and they've told them it's not implemented and there's no plan currently.
Senate passes bill to provide benefits to individuals and small businesses
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Re: Senate passes bill to provide benefits to individuals and small businesses
#12Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals.
For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be able to reopen the business.
It would be really bad for them to shut down, but it could be even worse if they take out a loan and then are not able to pay it back. Very bad situation to be in.
Same applies to individuals who will soon not be able to pay rent or other obligations. Loans are not a solution.
Re: Senate passes bill to provide benefits to individuals and small businesses
#13Trump straight up lied about freezing student loan interest. Just like he did about the "google" website, and testing availability. I know from multiple people who have called their loan providers and they've told them it's not implemented and there's no plan currently.
Spreading misinformation isn't helpful. Doing it to win political points is immoral. Doing it when it's easily checked if downright dumb.
https://www.cnbc.com/2020/03/16/student-loan-borrowers-will-...
It's happening but as with all government programs, there is inertia in the current system. It was better to announce it and let the relevant organizations iron out the details than to do it the other way around. Bottom line is student loan interest is being waived for the time being. The multiple people you know who insist it's not true are free to continue to pay their interest though it will be applied to their principle instead.
Re: Senate passes bill to provide benefits to individuals and small businesses
#14[flagged]
Re: Senate passes bill to provide benefits to individuals and small businesses
#15Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals. For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be abl…
This is how all of the other “bailouts” work for industries that everyone gets outraged about. What would you rather see?
Re: Senate passes bill to provide benefits to individuals and small businesses
#16Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals. For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be abl…
They're not giving loans to individuals. Did you bother doing research?
Re: Senate passes bill to provide benefits to individuals and small businesses
#17Trump straight up lied about freezing student loan interest. Just like he did about the "google" website, and testing availability. I know from multiple people who have called their loan providers and they've told them it's not implemented and there's no plan currently.
Trump froze interest on government student loans. If your friends have loan providers that are not the government, then Trump's announcement is meaningless.
Testing availability has ramped up a lot and you can send a COVID test to any quest or labcorp for analysis.
Trump's google website is live and is supposed to be expanding to encompass more parts of the country: https://www.projectbaseline.com/study/covid-19/
Re: Senate passes bill to provide benefits to individuals and small businesses
#18"Bold and significant" eh? Kind of like the "bold and significant" test kits that never materialized, or the "bold and significant" quarantine process we should've instituted as soon as the first patient was discovered.
They meant bold and significant for the corporate bailouts. Socialism for thee but not for me.
Corporate “bailouts” are just loans.
Re: Senate passes bill to provide benefits to individuals and small businesses
#19[flagged]
The US didn't really need a nudge. The White house and speaker of the house have said they were going to do this since last week. The US is ahead of other countries, given that our hospitals are not overrun already, and we've already started planning financially.
Re: Senate passes bill to provide benefits to individuals and small businesses
#20Loans, even cheap ones, are a very shity way of "helping" small businesses and individuals. For example, a local restaurant where I live, will have to shut down for good in the next few days as they won't be able to afford their lease. If they get a loan for the lease, they'll be on the hook for that money with no guarantee of being able to pay it back and with way too much uncertainty in terms of when they'll be abl…
This is how all of the other “bailouts” work for industries that everyone gets outraged about. What would you rather see?
The amount matters. I'll take a trillion dollar loan at %0 in a heartbeat and quickly become a millionaire via conservative investments. A 20k loan at %0 doesn't do much for me though.