Reminder that student loans, like mortgages, are rolled up into an investment vehicle called the SLABS, or Student Loan Asset Backed Securities. Student Loan Forgiveness would tank the value of the SLABS, and I guarantee you our elected officials have money tied up in them. Since a student loan can’t be discharged through bankruptcy, it’s typically a very safe investment.
I got private student loans, and eventually stopped paying and they were discharged. The discharge counted as income on my taxes, but still way cheaper than paying criminal interest for 30 years.
Reminder that student loans, like mortgages, are rolled up into an investment vehicle called the SLABS, or Student Loan Asset Backed Securities. Student Loan Forgiveness would tank the value of the SLABS, and I guarantee you our elected officials have money tied up in them. Since a student loan can’t be discharged through bankruptcy, it’s typically a very safe investment.
It is absolutely HORRIBLE and immortal to have an investment that gains money of others being in debt. That is SO fucked up
What… What do you think a loan fundamentally is?
It smacks of the subprime lending that caused the Great Recession all those years ago. History doesn’t repeat but it often rhymes.
Welcome to capitalism.
Inb4 all the MBA nerds come to chime in about why making money off of someone else’s failure is a good thing…
Government student loans can’t be discharged.
I got private student loans, and eventually stopped paying and they were discharged. The discharge counted as income on my taxes, but still way cheaper than paying criminal interest for 30 years.