Student loan debt isn't a bubble

What people don't realize is that this will significantly depress consumer spending in the long run as too many people have too much debt they can't get out from under.

This will wreck corporate revenues, their bonds will suffer, all that over-leveraged corporate debt IS a massive bubble that WILL pop because of this and I don't think people fully realize how much worse than 2008 that would be.

Attached: 1530797807069.jpg (250x243, 9K)

>implying the companies furnishing the debt can't file bankruptcy
>implying those companies don't offer student loan backed securities
>implying students maintaining minimum payment on their debt for years won't eventually drag the economy to a crawl

i've figured out why the establishment pushes college. it's not even because they make money on the loans. it's because there aren't enough jobs and it's better to keep people chasing a future that doesn't exist than rioting in the streets.

short it

Attached: 8B7E6416-D600-4001-870D-616C8B807E8E.jpg (600x688, 33K)

the federal backing of private student loans directly correlates with the skyrocketing price of education for obvious reasons. it's literally a scam. and to top it off these for profit lenders are guaranteed a positive return, there is no risk to them, total bullshit

>implying anyone is paying their loans

It will have no effect because we don't pay it. It's like it's not there.

>linear
No, that's actually perfect. You can sustain linear growth forever, the problem only comes with exponential growth which can only be sustained for a couple of years. Whoever is behind the student loan scam is very clever, this may be the bubble that never gets popped.

Can you buy student loan debt? If you have money to spare this may be the safest investment in financial history. You could easily just bundle up a couple of STEM student debt with shithole liberal arts debt and sell it.

this, I've never paid any of my loan.
I even changed my name and moved out of the country.
If they ever find me, I'll just follow rule number one of being a debtor, never admit that the debt is mine.
Eventually they'll either offer me a deal at pennies on the dollar or it will get lost forever.

They can't repossess my degree and there is no debtors prison.

KEK neither am I

>maxed out student loans in 2013-2014
>didn't even go to school, bought Bitcoin with them
>If I paid off the loans now I would only need to liquidate 0.4% of my BTC holdings
>still not gonna pay em

Attached: 1549858543567.jpg (750x725, 365K)

If you can get like super marketable lots of Latin American countries will take you as a citizen, not every country is a shithole you could probably rule in Argentina with a Computer Science degree from University of Texas and make a fucking LatAm startup, you then have no debt anymore.

they're mad at u for that btw
forbes.com/sites/zackfriedman/2019/02/13/student-loan-repayment-paycheck/#47d705153499

Hey genius I'm not trying to go to school I just want the money. I already have a country in mind too.

nice larp

Kek. Im one of them

How I short student loans. Is there a CDC sort of thing?

This is already happening in some instances and will be the standard in the near future.

>borrow money and spend it on luxury student apartments and spring break on top of a meme degree
>have to pay it back

Oy vey the fucking jews man!!!

>tfw this coulda been me
Now saving every penny into links will probably never pay my student debt. We shall see

Again, I'm not even in the country bruh.
And I've changed my name.
And they can't dock my income if I keep doing freelance.
And they can't dock my Link Node income.

I know, they're just mad

I love it

Attached: 1531399234857.jpg (236x226, 14K)

>They can’t dock your freelance or link. Tell me how.

Attached: A5079D0C-F610-486D-BD1C-E138E543DE46.png (700x700, 200K)

Same here broski.
The boomers they could rig the system against us, but when they go to check their pension plans in 2020, they'll find out the Can't Cash Out Meme is too real.

If the debts are absolved by the government the dollar will hyperinflate.

If they aren’t then the economy will crash and there will be mass bankruptcies.

There’s no way out.

Based and redpilled.

Highy doubt forgiving all the loans would result in any significant inflation

I got so lucky too...my parents forced me to take a gap year between ha and college and wouldn’t let me take any loans bigger than combined value of 20k. Payed it all back in a few years and I’m free of that shit. I really dodge a bullet.

reddit.com/r/studentloandefaulters/

I go to this sub sometimes to have a laugh at ledditors cry over their debt.

somebody somewhere gets the bomb

you get forgiven after 20 years of income based repayment if ypu have any left

Do you really think normies will prioritize paying off their loans over buying a starbucks coffee or the newest gadget?

holy moly that whole site is a golden salt mine.

Attached: 1,21 jiggakeks.png (604x531, 651K)

I have zero student debt from studying in Yurop, and then went on to move to the US with its low taxes. Debt free with a PhD & substantial savings from working while studying, vs local population which is drowning in debt.

Cant wait for literally nothing to happen
doom faggots can cry moar

>luxury apartments and vacations
this is a meme. most people on student loans are just barely surviving and living with roommates etc. cost of living is just insane these days.

no they'll waste most of the income on the interest payments instead, so they have even less of it available

It's not a bubble because you can't default. If you won't pay, we will just garnish your wages.

you can't garnish wages if they're making the minimum payment, and most people go on Income Based Repayment plans, so they are literally making like $30 a month payments on $100k+ loans. great system bro. definitely sustainable.

Now that's how you do it

Attached: knock.png (1600x1586, 900K)

Marry a Russian

What country? I have the same idea. The only way to realistically take out $100k+ is by going to grad school. (Capped out at $138500). By the time you get to grad school, you can also probably qualify for private student loans thanks to credit score + having a stipend for income.

At that rate, in 12 years, you will owe 200k

and it won't matter, because they'll keep paying based on their income. they will pay $30 a month until they're dead. try to follow along.

wait I (as a non american) though NOT paying your student loans would make you ineligible to get any other loan from financial institutions.
Can you even afford to live the rest of your lives without a credit card?
bizpill me on the effect of not paying sl

Hey Jow Forums look at this really nice car I bought on credit. I have snobbish contempt for everybody who doesn't have such an expensive car. Anyway, my problem is I can't afford this car. Can all of you people who don't have a luxury car pay for it for me, please? Oh, one more thing: it's not just me. There are millions of Americans just like me and we all vote.

>The student loan crisis in a nutshell

Attached: Bentley.jpg (1024x512, 157K)

Yeah except if a young teenager tried to get a loan to buy a sportscar, he would be denied. The same thing should happen to young teenagers taking out loans to buy meme degrees.

> 7 million Americans 90 days behind on car payments

Guys, truly there isn't anything to be worried about.

> being this dumb

Ppl will start running their payments on cc n personal loans, that they can claim in bankruptcy.

Even if they don't do it so direct, spending $100 on a cc to buy food to have that $100 in the bank to go to a payment is still paying your student loan with debt.

You ppl are like really retarded when it comes to economics and human behavior.

>Be creditor
>Debtor pays back the money he owes me
>Make a profit
>Give half a fuck what irresponsible decisions debtor made to pay me

> file for bankruptcy
> tax payers pay for boomers fucked up policies

Not really working when you factor in the end result you dumbass.

Well they aren't guaranteed a return because people could just choose to never pay up.

Earn more than you spend.
Infinite money, duh

Attached: 7356765.png (864x720, 538K)

What incentives do I have to ever pay back a loan besides the fact that no creditor would ever loan me money? There are zero incentives right? Debt doesn't follow your children around.

How much money should i save up to live in a $10m house?

>$100
You idiot. Do you think CC companies are going to give high credit limits to people with >$100,000 student loan debt?? Unless you’re earning 6 figures, you’d be lucky to get approved for more than $10k cumulative, and those people aren’t going to want to claim bankruptcy lol

So yeah, someone might be able to push 10% of their student loans into bad credit card debt. And declare bankruptcy to get a write off of 10% if their debt? Smart move.

How would the bank repossess a degree? That's why its undeclarable. You took money out and got a degree which cant be used anywhere else or by anyone else.

I guess it could work if you don’t ever want a house or car loan. What % of people who bought into the student loan meme are woke enough to drive a clunker and save to buy a home with cash?

Correct

Correct except a car is a depreciating asset. A degree is not, so far. Lots of people in the medical profession have 6-figure debt but don’t sweat it because they’re banking.

>Debt doesn't follow your children around.

Good goy, we already took counter-measures for that...

Attached: jewname.jpg (800x648, 173K)

They get more interest acrued.

Awww lil baby doesn't know how credit works.

> 10%
> times millions of ppl in debt
> being this self centered

Holy shit user

>i'm mad because people won't accept indentured servitude into perpetuity
the real problem is the shit's overpriced

They garnish any future wages so they only way to get out is to not make any income for the rest of your life.

Meth.

Well, whatever my advice still works but your idea is shit because you think a country will take you with 130K debt and no marketable skills? Fuck off lol

They could reset everyones interest and try to break even like personally I got 25K in just interest so I would be able to pay mine off in 2 or 3 less years if they'd make me owe what I originally owed.

so car payments and student loan payments aren't coming in?

There is no student loan payment system that accepts credit cards

Payed all 27k or whatever the ridiculous amount was in 2016. Feels good man

w-what will happen to me with 10k debt if the bubble pops??

Absolutely this. I know a guy at work over 100k in loans and he's not a doctor or anything. He's paying the minimum so it will be forgiven in 20 years. Oh and he drives an expensive as fuck truck and nice house. He also gambles a lot

How will the US Gov pay interest to the central bank on all the student loans they handed out to brainlets like yourself?

I think you can get forgiven after 20 years of income based payments. People will just do gig economy jobs and take money under the table.

the students are going to be sold into slavery for nonpayment.

Yes, yes I do. Mainly because I've talked with these people irl. Normies are retarded at thinking about anything past today. They think they deserve new cars every year and iPhones and shit

nymag.com/intelligencer/2018/02/lets-cancel-everyones-student-debt-for-the-economys-sake.html?gtm=top>m=top

bloomberg.com/news/articles/2019-02-16/u-s-student-debt-in-serious-delinquency-tops-166-billion

Cool, I always wanted a slave to do my chores.

The debt is forgiven after 20 years. This is where the bubble comes in

My friend's going back to school for video game design because he has no job and has a kid and a wife and both are unemployed. He took out a 20k loan and before he did and wanted to get my opinion, I told him that student debt bubble will crash before he ever has to start repaying that in 4 years, so don't worry about it.

There are literally thousands of people thinking this right now. Anyone that says there isn't going to be a massive crash starting from somewhere with all of this is braindead.

Will not happen
This would be an easy way out

1000 IQ is to max out student loans (federal and private), finish your degree-or even get a PhD to further racking up more.

>leave country

Nothing they can do.

> thinks death can absolve him or his loved ones from student loans

Attached: goyim i.jpg (677x995, 104K)

>If they aren’t then the economy will crash and there will be mass bankruptcies.
lol no it won't
fuck dumbasses who paid for useless shit

>There is no student loan payment system that accepts credit cards
lmao what
are you retarded?

>they care about debt and not virginity
lol enjoy your whore wife

>They garnish any future wages so they only way to get out is to not make any income for the rest of your life.

Move out of the country.

I give some props for those who moved to another country. Apparently some people with 100k or more are moving to Asia and leaving the government with the hot potato. Based.

Or accept Monero for payment.

>not buying life insurance to cover it

I'm pretty sure student loans are absolved upon death though. Could be wrong, not sure where I heard that.