This past week, readers debated issues related to student loan debt and credit unions that serve immigrant members.
"1.1M Student Loans Default in 2016," March 17
The American Dream seems to be getting more and more out of reach. We are not sure of ourselves anymore. We are beginning to question our system. Perhaps we should. We have poverty in a land of plenty, which is totally inhumane. Several decades ago, Margaret Thatcher claimed: "There is no alternative." She was referring to capitalism. Today, this negative attitude still persists.
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John Steinsvold
"Lawmakers Push Bill Allowing Student Debt to Be Discharged in Bankruptcy," May 8
Bankruptcy a last resort? Not for newly-minted graduates carrying $33,000 in student loan debt on average (some $0, many much higher). Students will flock to the bankruptcy courts if this is enacted as described (parity with credit card debt), costing taxpayers hundreds of billions. I am eager to see details, but I support bankruptcy for FUTURE borrowers, which should cause student loan interest rates to rise close to credit card rate, and discourage excessive borrowing, forcing colleges to change. Giving wide discharge-ability to existing student loan borrowers is a government hand-out.
Mike
This has nothing to do with government, outside of the fact government operates civil courts that make debt possible. Banks do not lend money. Banks create credit. Discharging student loans simply deprives banks of a revenue stream from an asset on their books.
Telemachus_1
"Coopera CEO: CUs Should Press Congress to Protect Members," Sept. 6
No, these accounts should have never been opened. Why are we providing services to those here illegally? Amazing that we have forgotten what illegal means.
Sweder
I was with you up to the illegal part. Not to mention the unconstitutional way it was passed in the first place. We are a land of laws. We are not all going to a foreign country and demanding they treat us as natives are we? How would that go over? Let's go stand in line in front of their citizens and see how that works out. DACA needed to be repealed. It was wrong from the get-go!
Gregg Stockdale
Any credit union that supports illegal aliens remaining in this country should be placed in receivership.
WVF
"Concerns Pile Up With Equifax Data Breach, CU Officials Not Happy," Sept. 8
This is very serious. Millions of credit union members have lost their privacy. Lord only knows what that will mean for us down the line.
WVF
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