Half of the US government's financial assets are student loans
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Half of the US government's financial assets are student loans
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Re: Half of the US government's financial assets are student loans
#2is this for real? does anyone have any info that proves this right/wrong?
Re: Half of the US government's financial assets are student loans
#3Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
Re: Half of the US government's financial assets are student loans
#4Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
2008.
Re: Half of the US government's financial assets are student loans
#5Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
They're protected from defaulting by law, because they can't be divested by bankruptcy.
... which merely means you need to calculate where the knee in the curve of issuing them was, extrapolate to life expectancy, and know when to cash out. Convenient!
Re: Half of the US government's financial assets are student loans
#6I have been skeptical of the real "value" of cryptocurrencies (outside the technical ability to allow for value transfer, which does not necessitate the coins having value inthemselves), but assuming this is true I have a lot less faith in dollar bills and the fact that they are backed by the "full faith and credit" of the US government. If the student debt bubble really does pop, the government (and thus all of us tax payers) are going to be the ones holding the bag.
Re: Half of the US government's financial assets are student loans
#7Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
They're protected from defaulting by law, because they can't be divested by bankruptcy. ... which merely means you need to calculate where the knee in the curve of issuing them was, extrapolate to life expectancy, and know when to cash out. Convenient!
> you need to calculate where the knee in the curve of issuing them was, extrapolate to life expectancy, and know when to cash out.
Sorry, what does that mean?
Re: Half of the US government's financial assets are student loans
#8Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
They're protected from defaulting by law, because they can't be divested by bankruptcy. ... which merely means you need to calculate where the knee in the curve of issuing them was, extrapolate to life expectancy, and know when to cash out. Convenient!
> They're protected from defaulting by law, because they can't be divested by bankruptcy.
True. I think most people don't realize this. Government programs push young, naive people to borrow to pay for degrees that are unlikely to have positive ROI, and then if life doesn't go as planned there is effectively no bankruptcy protection.
Re: Half of the US government's financial assets are student loans
#9Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
Well, given the only way to escape student loans is death... good luck defaulting?
Re: Half of the US government's financial assets are student loans
#10Oof. What happens when a huge chunk of these default because educating everyone doesn't magically create jobs for everyone?
No worries. The US government will just borrow more. I mean it's not like it has a balanced budget anyway.