You're an idiot.
I actually agree with Joe Biden on this and actually am glad it passed.
You don't even understand what the problem is and what the bill does. You just see a headline, read one bullshit testimonial, and then assume you know what's going on.
You don't. You're too busy being the fucking drama queen, in the know poser you are.
What the bill does is MAKE people pay for their education. What was happening was two fold:
- People were taking out student loans to go to school, partying their asses off, flunking out, then just filing bankruptcy chapter 11 and getting away with it Scot Free while they lived in mom's basement the rest of their failed and miserable lives.
- Took out student loans to go to the school they WANTED to go to for the prestige it offered, graduating, getting a good job, buying new car, new house, all kinds of new shit, then finding out that 6 figure bill they wracked up was cramping their life style and filing bankruptcy and saying, "fuck you".
It's all no different than the people that ran out and bought a house they couldn't afford, never made payments on it, then bailed out and left the tax payers footing the bill over it.
All this bill did was make the CORE student loans ineligible. The interest and fees were (and still are) able to be listed on bankruptcy, just not the core fees.
So if some deadbeat from out of state racked up $170,000 in lodging, tuition, food and books to graduate from Georgia Tech, then 10 years later was working a job making $140,000 per year, but with his new BMW, new house, and other "lifestyle" expenses found he wasn't making a dent in the loan because of interest and fees that turned that 170 grand into 215 grand, he could still file for bankruptcy and get relief.
But he's STILL going to have to pay Georgia Tech the actual 170 grand he racked up. The interest will be gone. So will any late fees he might have racked up. But by God he's going to pay for the actual fees he ran up.
I agree with that 100%. They should have thought about all of that BEFORE they ran out and bought a new car, and a new house, and a big screen, and taken that trip to Hawaii, and all the other bullshit.
But they don't. They run out, rack up more debt than you can shake a fucking stick at, and then expect the taxpayers to bail them out.
They're just like the fucking banks and investment firms that do whatever the fuck they want but then cry for help and bailouts when they fuck it tall up.
Congratulations, idiot. You've made yourself one of them.