College Debt Forgiveness

Discussion in 'General Discussion' started by RandyForRubio, Jun 24, 2019.

  1. RandyForRubio

    RandyForRubio Well-Known Member

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    Dala...usury is defined as lending money at unreasonably high rates of interest. I'm telling you right now, 5% (standard student loan) is not unreasonably high. And I assumed when you references Jesus that you were talking about the Bible. I'm clearly not a follower of Islam, so I don't see where I would care what the Islamic viewpoint on usury is. It's not a relevant issue. The only reason the Jesus issue would be a relevant point for me is because I'm a Christian, and I rather detailed why I don't think student loans would be considered unreasonably high interest. The Bible does not say lending money with interest is wrong, it says it's wrong for believers to do that with other believers. The context matters there.
     
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  2. gandalfe

    gandalfe Well-Known Member

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    Originally, usury did mean charging any interest at all, but that is no longer the generally accepted definition.
     
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  3. RandyForRubio

    RandyForRubio Well-Known Member

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    Wasn't aware of that. Thanks.
     
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  4. gandalfe

    gandalfe Well-Known Member

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    My point is just that you're both right.
     
  5. RandyForRubio

    RandyForRubio Well-Known Member

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    Sure. I think overall, the interest rate is a small piece of the puzzle. It's pretty much standard practice for any type of loan...expecting otherwise isn't realistic.
     
  6. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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  7. idestroyedthetoilet

    idestroyedthetoilet Well-Known Member

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    Debt is bought and sold at market for profit and loss all the time. The value of the debt is inversely correlated to interest rates.

    I don't see why an investing entity losing money on a debt means whoever aquires the note should also lose money on the debt. It sounds to me like you are going down some sort of potential for restructuring path for college debt, something I think should become a thing. That whole discussion has to start with what college debt is. It is an unsecured loan that nobody in their right mind would make to somebody with nothing given as collateral in return. Get your four year degree living off Mr. Monopoly then declare bankruptcy. So apparently we solved that problem by instituting this debt bondage situation, which is morally wrong IMO. Now,that we are here, how do we end debt bondage for the many who've slipped through the cracks? I think we can do that without the moral hazards these blanket forgiveness stump speech plans offer.


    You shouldn't care, whether they paid 60 cents or 100 cents on the dollar. I don't care if the provider of my home loan ever gets paid in full. What I care about is paying off the amount that deed fully into my hands. That's about me, they can lose their entire investment for all I'm concerned. (You can rant to me all you want about misplaced Christian guilt over debts owed)
     
  8. NPC D4617

    NPC D4617 Well-Known Member

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    Can I borrow some money from you interest free Mr nice and moral guy?

    You cant say no or ignore the request or else you are a bad person.
     
  9. dalamon

    dalamon Well-Known Member 2018 Prediction Contest Winner

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    It’s in the bible bro
     
  10. dalamon

    dalamon Well-Known Member 2018 Prediction Contest Winner

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    Sounds pretty unchristian to me
     
  11. RandyForRubio

    RandyForRubio Well-Known Member

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    Again, that was a direction to believers only for use with fellow believers. Also why the Bible says they could charge interest to foreigners, ie, non-believers. Context matters, as you should know Dala.

    But I mean, if you would like things to be governed on the basis of the Christian Bible, that would sure be an interesting twist for you.
     

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