SCARY VIDEO: The "Ditch Your Debt Gremlin"

Did you engage in some contractual responsibility? Don't worry kids, we're from the Government, and we're here to help you get out of that nasty agreement you made. Work for our gang and we'll REALLY help! We won't mention where this money is going to come from - rest assured, it's MAGIC money - we're the Government - we pay your debts with MAGIC and pixiedust (which debt gremlins are allergic to... trust us... we only want a bit of your soul... just kidding... sign here.)

Magic Money?

johnson 5 years 52 weeks 2 hours 20 min ago

I wonder where this money comes from? I'm imagining this is going to work just like the cash for clunkers, where the government renigs on dealers, drives up the prices of crappy used cars making it so teens and low income families can't get cars at all, is destroying these running "clunkers" thereby creating an auto bubble like the real estate bubble, so that in the future we are going to have a crash in the auto market...

I wonder who the government is screwing with this deal? My guess is that the schools and existing students, are going to take it in the pooper when student lenders realize they aren't going to get paid, or are going to have engage in mountains of bureaucratic nonsense paperwork, and will instead opt to loan to far fewer students. Especially if the Government starts renigging on lenders. Sigh.. What are they going to do next to keep dumbing America down?

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