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Observe: The Dwelling Economical Solutions Committee holds a listening to on the university student bank loan disaster





The Dwelling Economical Solutions Committee held a listening to to focus on university student bank loan lending.

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32 comments

  1. I might come off as a philosophical idiot but i think the fundamental problem is everyone is talking about education as a commodity.
    If you're good enough to get an education it should be affordable and its the responsibility of the state to make sure it is

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  2. @ 2:45 Mr.Stiel finally.. I have been waiting for someone to bring it up

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  3. 1:07:37 "Students wants their best option – not a cvs receipt"

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  4. Geez how can Mr. Delisle live with himself. I can't imagine what ppl like him tell themselves everyday to do the crime they do daily.

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  5. 3:37:17 AOC time.

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  6. 1:18:30 This dude does not know about student loans of today, you can't compare a 1996 toyota corolla to a 2019 toyota corolla, the price, power, and overall design of each is so vastly different that it might as well be a totally different car because literally the only same thing they share is the name toyota corolla (student loan), sounds the same don't mean it is the same.

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  7. Good on Duffy to give Hasan back!

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  8. 36:19 Even the Chairman's like " Damn, Hasan's spitting out fire today " !!!!

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  9. 36:18 when micro expressions take over your face… she's quite impressed with Hassan

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  10. 36:18 when micro expressions take over your face… she's quite impressed with Hassan

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  11. I have one proposal that can benefit many people. Whenever some one pay off towards the principle, that should automatically recalculate the entire loan with out refinance as long as the borrower staying with same lender. That way every one can work hard few years make extra money and pa of the loan early and have a better life. refinance process should only apply to switch the borrower or change the rates.

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  12. From what I can tell only 15% at most of college students are unable to repay their debt ..there's absolutely no good reason the government needs to step in for all 44 Million Americans when most of them can repay their debt . We need to drill down and find out what the reasons are that students cannot repay their debt and do two things 1 . Ensure that the repayment terms are fair and not predatory . 2 Find the reasons why people cannot repay and take action to stem further losses , I.E if half of defaulted borrowers are psychology students or poltical science majors maybe it's time for the government to stop extending loans for those degrees etc or if it's the bad financial habits of borrowers then perhaps colleges should have mandatory financial management classes so that students can learn how to manage their finances.

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  13. Same as to the reason because of Hasan MinHaj and student loan

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  14. Mr Duffy getting mad because he's immune to empathy and people's problems; so being mocked makes him upset and he doesn't know how to deal with it, so he wags his finger thinking sitting on a higher chair makes him worthy of subservience

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  15. Loans are a bad way to create social mobility in a country. Every time risky loans are given out in a large quantity, you can expect a bubble and crash in the marketplace. We need to scrap the Fed Gov backed loans and go back to the drawing board in figuring out how to best allow young people to receive an affordable education. Most of the people that are for the scraping of government loans are also, unfortunately, for a completely free market system in education, but this ignores the fact that this would necessarily result in fewer people getting educated.

    This would be acceptable if we were living in the economy of the 1990s, but the coming technological shift means that post-secondary education will be necessary for anyone that has any hope of finding a job. We are in a situation where we have no choice but to increase the demand for post-secondary education if we hope to remain competitive in the global market, but demand inflation in a free market will quickly make this impossible. It seems to me that the only real answers are completely socialized systems that fund primarily the increase of buildings/seats for students, or a completely free market system that uses taxpayer-funded grants to universities that can only be used to fund classroom expansions. If we can get all universities to build more seats at a higher rate, basic supply and demand can do its things and lower the costs over the long-term. Either system would be much better than what we have now. I fear that the next big recession is going to lead to the end of capitalism if these situations are allowed to get worst. There is no way in hell that the people will sanction another government bailout to investors, meaning that the next crash is going to lead to extreme violence and revolution globally.

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  16. When AOC speaks the room sat still,

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  17. AOC: I have a student loan so let's get rid of student loans!
    Just joking! They kept the best for the end! She is amazing in hearings!

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  18. 2:54:50 It sounds like someone is loading a shotgun. For a second I was scared what will happen next.

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  19. Mr Duffy: Those privileged poor kids get everything subsidised. And the rich kids parents have to pay. That's an attack on the middle class! Would the panel agree that rich kids are smarter than poor kids?

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  20. Mr Casten is amazing! Hasan should invite him to Patriot Act! Also sry for comment bombing. This hearing makes me mad and happy at the same time.

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  21. I think Mr Davidson is on cocaine.

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  22. Mr Davidson: So you want to go to college? You have the money?
    Student: I would love to go to college, but I just finished school. I have no money.
    Mr Davidson: No problem, that's what student loans are for. How much is your annual income?
    Student: I don't have an annual income, I just finished school.
    Mr Davidson: If you can't pay your loan you don't get one. Try again when you have made enough money.

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  23. Mr holistic Davidson wants to combine student loan crisis with the healthcare crisis and the spending problem and imigration because otherwise it is not holistic.

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  24. Mr Davidson: The education market is like the housing market. If to many people buy education, the educations of the other people will lose vallue. And than one person can't pay back their loan and the bank seizes the education and tries to resell it pushing down the prices for the other educations. At the end you have a lot of educations that lost their vallue and a lot of people who lost their education.

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  25. Mr Loudermilk claims that the two of his three children who went to college (I guess the sons) paid for it by themselves by working because he couldn't afford it. I don't know much about college costs and the wage of a republican politician, but I do not believe him. I can't imagine Travis and Michael working at a shitty bar after college. Is there any information about this?

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  26. Simple fix. When you get a credit card or car or home loan the bank asks you how much money you make to see what your PTI percentage will be at the rate and amount borrowed over x amount of term. So why can’t we do the same for student loan. My thinking is we take the average gross yearly income of whatever field you want to get your degree in and then take that amount and see if at that income you can repay the loan back taking into consideration all the same nuance of any loan that a bank must approve or deny based solely on income. I went to art school. I owe a 100000 dollars still. If the school I went to told me that artists make an average of less than 25000 a year I would have not been approved based on the fact my Income ratio to payment would be too high. That is I would be declined. I would not have went to art school. That’s just the facts. I would also have saved 100000 in unneeded debt.

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  27. Poor hyperactive Hasan! Has to sit still and to be quiet. You can see how his energy wants to get out. But he makes it through the whole hearing and listens more closely than most of the politicians. They are just waiting until it is their turn to speak.

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  28. The white bald guy is bitter.

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  29. 1:33:00 Mr Barr: I know everyone wants a boogeyman, and you think the loan servicers are the boogeyman, but Obama is the real boogeyman! Btw, college is not for everyone. We need cheap uneducated workers!

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  30. 1:31:25 Since the Democrat congress and the Obama administration orchestraded the takeover of student debt… This guy is a propaganda poet. Pls give him a netflix show! With big screens! I would watch it!

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  31. Thank you Mr. Hasan Man Ha for your effort, also thanks to everybody fighting for this issue! The hearing took 4 hours and it is not his job to be there. But he was listening more closely than most of the politicians.

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  32. I think if you take a loan and you can't pay it back it is your fault. And because you don't know if you will be able to pay it back you shouldn't take a loan. So the solution to the problem is simple: Teach the kids not to go to college.

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