This was at least 15 years ago but I knew someone who had paid all their loans off who got a notice that they owed thousands on XYZ loan. I may have this a little mixed up, but it turned out to be something like the original loan company had sold/merged with another company (through which my friend had paid off the loan.) He finally got it straightened out (and I'm sorry I don't remember the details) but it makes you wonder how many people, due to situations like this, got bills that they shouldn't have and paid them.
Yes many loans were sold and resold. I've heard of this too. Also people consolidate them into a single bundle, and then they still get sold individually. I'm telling you, it's a very burdensome banking racket sponsored by government.
Loosing the middle class from this only frees people to participate in the economy. I
Edit: many loans... Not Maryland. Stupid autocorrect
What would you say to the people (bc I'm sure some scuttle will be made of this) that paid off their loans and view this as preferential treatment?
All boats rise with the tide. It's the same as people in housing areas benefiting from home owners and housing market. Property taxes pay for schools whether you have kids or not. Communities benefit from sales tax from people just passing through. It's not a zero sum game. Jubilee benefits the ethos of the land. Relief for your neighbor is no worse that all the freebies offered to care for people who may be contributing less to our society.
I would open the discussion there. I know I'll get flak but this is a relief from a burden where our gov't wastes gazillions on wars that aren't even in the home front.
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