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  • Lauren Ell

    Personally I would like to hear more solutions or alternatives that people can do to ensure a future of less to no debt. I agree with Citizen that loans are given out so easily to students who do not know the realities of taking out loans or the future of job opportunities.

    So let's get to the solution of the problem, educate people who are going into the system now about loans, challenges, alternatives, etc. I understand that people have made mistakes due to being misinformed or simply being careless, but we need to change this system now to see any kind of change or else we will just continue to bail people out for infinity.

  • citizenvern

    It's an awesome, brilliant, exciting move. Mixed feelings, though. What about everyone still paying rent (and rising rent at that) because they were "sensible" and didn't jump into a home loan they couldn't afford? As with the banks and auto-industry, we shouldn't create a win-win situation for people with bad judgement. Not only does it incentivize un-sustainable bad business, it also sucks resources away from people who do the right thing (by way of higher prices/rates, tighter loaning, etc.) We can't just "reward everyone", regardless of what they do.

    On the other hand, I'm a hypocrite. I'd LOVE to see my student loans reduced. The American edu system's policy of THROWING debt at inexperienced juveniles with ZERO preparation or assessment is simply predatory. People with DEGREES and EXPERIENCE in lending should be held accountable for the loans they make to people who DON'T have that specialized training. In the legal field, the medical field, the engineering field, professionals are accountable for doing their job right. And in the business world?

    What we need is "malpractice" suits against lenders. The responsibility has to lie on both sides of the equation.

  • Jesse McDougall

    I like that they're targeting mortgage, education, and healthcare debt first. None of these fall under the category of frivolous spending and are therefore where the bankers have been targeting citizens for decades. If nothing else, it's an inspiring attempt at a peaceful revolution.

    • Ben Goldhirsh

      Agreed. I also don't think helping a struggling family in debt precludes helping a struggling family not in debt. Sometimes i feel like these logic debates facilitate inaction and I think that's lame.