this post was submitted on 02 Oct 2023
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I was talking to a lady that had somehow gotten into $500,000 of student loans for herself, her ex husband, and their son. And the payments are about to resume.
Don't worry, lenders must assume some risk, that's why we use bankruptcy -
Oh, right.
If the 18 year old borrower assumes all the risk for life, then the interest rate must be zero, right?
I mean, it'd be ludicrous to do anything else, since education is demonstrably a net economic and societal gain.
What kind of monstrous system would try to debt trap college students?
Right, that would be absurd
How do you rack up 500k in loans without telling your prodigy that they better do something with it or else its going to fuck everyone up? Like if they didnt go to become lawyers or surgeons then they essentially self sabotaged their entire family.
I'll bet they'll still come for you. That shit will follow you to the grave and beyond.
Lets all give a round of applause for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 for almost single handedly fucking over a generation. Its tough but it get shit done. Without it, Fanny Mae and Freddy Mac wouldnt be where they are today.
And move where? No one wants us unless we’re super successful. And if we were we’d pay off our loans. Don’t think the sovereign citizen shit works.
Non-US expat living in Asia here. It's crazy how easy it seems for US citizens / westeners to get jobs overseas compared to people from developing nations. I can tell you, if you have a teaching license and developed country's passport there are international schools all over the world willing to pay you well plus living and travel expenses.
Calm down buddy, nobody called you a sovereign citizen. The comment above yours is just saying that trying to renounce citizenship but not being able to emigrate (since nobody else wants us) would leave only the option of sovereign citizenship, which obviously doesn't really work or solve anything.
Stop looking for something to feel offended about and read properly.
It was a joke. And it’s wasn’t directed at you. I hope things are well. I’m not a vegan but I appreciate vegans wholeheartedly.