Is the student loans bubble bursting a sure thing or a meme?

You can't claim bankruptcy on student loans. They follow you to your grave.

yea, isn't that like the biggest problem with student loans? lenders are not nearly risk adverse as they are with student loans. they don't need to worry about collateral, if you check the borrower or cosigner has an asset, i.e. home, you will just give the money without worry because you have a claim that survives through bankruptcy and a home/forever debt slave.

no one has an issue with this? this is insane

Expect mass defaulting in the future.

This

Its already happening people that are basically delinquent on their payments or making the minimum payment amount is over 50% ive heard. Everyone i know with huge debts is basically just paying hte minimum and using te rule that after 20 years its forgiven. Its modern debt slavery.Thhis along with all the other fedgov backed debt bubbles (real estate, cars, bonds) will bring down the dollar. A currency reset will be used most likely after a large scale war.

>you dont because you newfag

Am I just?

Meme's never meant that by the way, newer friend.

Forget it, OP is an idiot

I know people who just ignore them outright. This isn't going to end pretty.

can i short student loan debt

what are you christian bale from the big short?

No you retard, it would be a waste of time even if you could

>Not everyone is going to default on the loan and banks are going to be making a profit even if you default.

Not everyone is going to default on their mortgage loans right???

the big short? can i learn a thing ir two from a movie like that?

you physically can't default on your student loans. You can default on other assets, like mortgages, car loans, etc., but you are not permitted to default on student loans. They can literally garnish your wages to get the money.

Student loan asset backed securities (SLABs) exist and you could buy out a credit default swap on those, but there's way more federal involvement with student loans than with mortgages, see: above. Sallie Mae is bigger than Fannie or Freddie and package these securities.

You could, it's just a really shitty investment.

Mortgage default just gives the home back to the bank and is resold. Maybe debtor prisons will make a comeback but yeah, not a bubble, terminal economic slavery from the get go.

Current economic model is a mess which is why there is a huge push for the carbon economy, direct control of all carbon based lifeforms. No carbon, no life for you!

It's a pretty good movie even though there are certain aspects of the crisis they don't draw attention to, namely that ratings agencies don't et paid for individual security ratings but instead for packaged ratings, so their narrative of S&P as the boogeymen is kinda wrong, and also the issue that Steve Eisman (in the movie he's named Mark Baum and played by Steve Carrell) literally got lucky on the trade and is portrayed as the protagonist of the film, when in fact he did nothing to see it coming and just got a wrong phone call from another person.

Most people love it though because it shows Wall Street acting like fools

What said.
If you default on student loan debts they garnish wages and take your tax return.
The only way to keep from paying it is to never work again in your life or work under the table and dont claim taxes.

Why? Because everyone would declare bankruptcy as soon as they graduate. At that point, you have no assets to seize so having no debt might be worth the credit hit.

A meme

Except for specific circumstances, student loans cannot be written off. The debtors will be paying them back or at least a portion of them, dead or alive.

Something like the sub-prime auto loan situation is a different story

My brother did for a while.

Result?

His meager tax return was garnished - much less than a year of payments.

His credit was hurt. But the fucker didn't make much money and probably shouldn't be extended anymore credit anyway?

He's paying it now, but for those who have a shitload of debt and ignore it, there's minimal adverse effects vs. indenturing yourself for 30 years.

People defaulted on their mortgages because the terms were set to change throughout the course of the loan you fucking retard. The house of cards fell because it systemically fucked the economy so people lost their jobs and the defaults continued. This board is fucking retarded. You idiots watched the big short and still don't understand the elementary explanation of what happened

When is the auto loan bubble gonna burst, When a truck is 80 grand, you know there's a problem. 99% of people pay for cars with 0 down and put it on an 8 year term at next to 0% interest

>People defaulted on their mortgages because the terms were set to change throughout the course of the loan you fucking retard

>ARM's and balloon payments didn't exist before 2008
>what shallow thinkers actually believe

>bubble bursts
>no one can pay back loans
>FED bails out banks who issue student loans like 2008 with big financial institutions
>???
>return to normal

Thing is, they're miserable too

I find myself having to bite my tongue around people (especially co-workers) more and more just to even semi-fit in as they all sit around and bitch about their car payments

lmao I'm literally in the same fucking boat. I hear way too often that people can't afford to miss a day at work because they will be under water. Why the FUCK do people live like this.

>Why the FUCK do people live like this.
An envious race to the bottom is the best I've come up with so far

hurr durr muh printing money

...

Maybe in 50 years or so when all the people who stopped paying their student loan debt die

Fed literally pumped trillions into the economy in 08 - 09 and the government ran huge deficits under obongo. Where's the inflation faggot?

It's not even money, that just goes to show how stupid you are. It's just credits and debts. Not "money" in any sense of the word at all.

Buy SLABs brah

More like higher education is a big fucking bubble. Like a fart bubble. And the worst thing of all is that it's not exclusive to America

>You cant get rid of a student loan.
Move to another country.

Mate you missed the point, you can NEVER default on student loans, nor discharge the through bankruptcy

Either they garnish your wages or you flee to Cuba or something

It's a genius system, really

There is forgiveness but you still have to pay a lot