GOP wants to grab student loan payments right out of your paycheck

[Curtis Harper]

The funny part of this is lenders aren't forcing these loans on anyone. They're not hanging out at high schools with a gun in one hand and a contract in the other. The poor bums can't say they didn't know

''The interest rate is 73 % .''
''Sweet. I'll take it .''

[Redd Foxx]

Some of those kids sign those fasfa documents at 17 & 18 years old they don't anything about debt , job and etc. They should require the lawyers or school teachers to sit down with the parents and students to better explain the contract. The craziest thing is they don't even run a credit report on the barrower or the co signee. They run a credit report now on cable but not on student loans ? You are going to give a kid 100k for school ? And run no credit report ? Not even tell the kids what majors They should consider , never look at the kids high school gpa? Nothing ? So I don't blame the kids it's been a money grab since the jump. You can't even get a bank loan for a car that easy now a days.

Credit report on a 17 year old? WTF credit are you supposed to have at that age? Credit reports are not the issue here. Like I said, the alternative to the current system is that they don't give loans to young people. That would be disastrous.

I understand your stance but, no offense, I think you could choose better ways to argue it.

Personally, I don't see the big problem in garnering wages to recoup loans. But, I think university system is a scam to begin with and we have a saturation of people will degrees who fail to find work in their field. Mike Rowe has the right idea; encourage kids to take up trades. There's so many good paying jobs available that are less expensive to get educated in.

[Redd Foxx]

The funny part of this is lenders aren't forcing these loans on anyone. They're not hanging out at high schools with a gun in one hand and a contract in the other. The poor bums can't say they didn't know

''The interest rate is 73 % .''
''Sweet. I'll take it .''

I agree. If you can operate a motor vehicle in traffic, get married, get a credit card, you can take responsibility for a loan.

However, I do have sympathy for those who fall flat on their faces and think there should be a scale so that some people aren't completely drained of hope. Even if it means only garnering $20/month until they get out of poverty. It definitely needs to be scaled based on income.

[Curtis Harper]

I agree. If you can operate a motor vehicle in traffic, get married, get a credit card, you can take responsibility for a loan.

However, I do have sympathy for those who fall flat on their faces and think there should be a scale so that some people aren't completely drained of hope. Even if it means only garnering $20/month until they get out of poverty. It definitely needs to be scaled based on income.

I like to look at things from both sides...

One side wants their money back
The other side doesn't have it (and truth be told, not eager to give it back).

I would like to be sympathetic, but they knew....
Not paying back loans is like a person working for free. Who does that (if a weekly check is the agreement) ?

I don't know of anyone who's willing to work and not get paid.

Giving people hope does reward society but the financial world is a bottom line industry.

[Eddy Current]

Put yourself in the lenders shoes. How often do you think people are trying to scam them ?

It's a business, not a favor.

I always find it strange when people sympathize with big banks rather than everyday citizens.

[man down]

Go for it, tell the bank you didnt make the car payment because it wasnt fair. People cant be this dumb. Yes we understand debt sux but you entered into a contract and were happy to take the money.

[Removed Now]

Credit report on a 17 year old? WTF credit are you supposed to have at that age? Credit reports are not the issue here. Like I said, the alternative to the current system is that they don't give loans to young people. That would be disastrous.

I understand your stance but, no offense, I think you could choose better ways to argue it.

Personally, I don't see the big problem in garnering wages to recoup loans. But, I think university system is a scam to begin with and we have a saturation of people will degrees who fail to find work in their field. Mike Rowe has the right idea; encourage kids to take up trades. There's so many good paying jobs available that are less expensive to get educated in.

They would run it if that 17 was going to buy a car. So I don't understand your statement. No offense taking since there's over 1 billion dollars in student loan debt and alot of people are struggling so it's not a debate this is real life stuff.

Trade school isn't free either. Alot of companies stop doing on the job training.

Garnishing wages when people are already paying their loans? How is that far. This bill will also affect people who already pay on time and never missed a payment. It's pure greed.

[Removed Now]

Go for it, tell the bank you didnt make the car payment because it wasnt fair. People cant be this dumb. Yes we understand debt sux but you entered into a contract and were happy to take the money.

I know alot of people who give back cars. They need to stop selling crazy high interest loans they know the person signing can't afford. That's how we got the housing crisis.

[man down]

I know alot of people who give back cars. They need to stop selling crazy high interest loans they know the person signing can't afford. That's how we got the housing crisis.

They have a choice, no one made them take it. Do people not have self control? I have 90k limit between all of my CCs. Should I just charge it all up and say sorry cant pay? People are a joke. If you cant pay then dont take the LOAN.

[Removed Now]

They have a choice, no one made them take it. Do people not have self control? I have 90k limit between all of my CCs. Should I just charge it all up and say sorry cant pay? People are a joke. If you cant pay then dont take the LOAN.

$90,000 credit total limit on multiple cards ? Damn dude is it a company accounts or are you pulling down 500k+ a year ?

Thats some serious credit limit. My credit score is 750+. But i wouldn't want anything more than 10k on a card.

I don't wanna get too deep in to your personal life but how many credits do you have and why do you need so many ?