(08-21-2019, 08:33 PM)The Drifter Wrote: [ -> ]Support Our Vets.......
Trump signs executive order cancelling student loan debt for disabled veterans
President Trump signed an executive order on Wednesday that forgives all student loan debt for any permanently disabled U.S. military veterans.
https://www.foxnews.com/politics/trump-s...d-veterans
There is already a law saying such loans should be forgiven, but apparently the process is too slow and complicated. Hopefully the executive order smoothes that out.
If you read the article, you see that there are a lot of categories of people who are eligible to have some of their loans forgiven, but again few of them are able to complete the process. The main servicing companies would rather that the loans not get forgiven, obviously. I'm not sure if the government is paying off the principle in these situations. I assume they are. But even so, the lender would rather just sit back and collect more interest and fees, rather than get paid off early. If they get paid off early, now they have to hustle and originate a new loan.
It's obviously a complicated problem, and people have their own pet solutions for it. But the saying is true in this case: for every vexing problem, there is at least one solution that is simple, obvious, and wrong.