Jean Garon, ex-Education minister and economist (currently not in any political party), is for a tuition freeze and think it's possible to do so. He's supporting the student movement. Do you think he's also incredibly out of touch? I mean, compare to you and all your political and economic knowledge?
you mean, ex-PQ Jean Garon or you're talking about someone else ?
Because then the banks would not lend you the money to begin with, which is worse.
It also shows that it's a major scam... But the domination of the banking industry over governments is another topic that could go on for a long time.
But at some point the government does have money. It does collect taxes. Hell, couldn't it be financed by the "Caisse de Dépôts et Placements" Couldn't it invest some of its money (it does have a huge amount of assets) in order to pay and collect all student loans? Then all interests would go back directly to the government and instead of having to pay for them to banks, it could be re-invested in education. Or whatever else, but at least it would not take public asset and give it straight to private interests for WHAT?
The reason this would likely never happen though and why the government will never talk about this is that banks would never want that to happen, and they would make the government pay in other ways if it took away one of their safest source of profit.
But when you realize that this whole thing is a direct transfer of our government money to banks with interest when they have 0 risk involved... I mean something should have to be done about it. It's a total scam. And I wished for the student movements, since these are NOT controlled by banks, to raise awareness on this.
I'd like to remind all of you that there's a politics thread on the tuition hikes, and you guys should comment there. We should keep this discussion to school work!
Anyways, I just found out I got the sufficient prerequisite grade for Cal 1. Happy. Now on to Linear and Micro which start tonight.
I'd like to remind all of you that there's a politics thread on the tuition hikes, and you guys should comment there. We should keep this discussion to school work!
Anyways, I just found out I got the sufficient prerequisite grade for Cal 1. Happy. Now on to Linear and Micro which start tonight.
You guys should look into joining school associations. There are a lot of perks aside from the obvious (new friends/contacts, looks good on CV, extracurricular activities).
__________________
"Our priority is finding the best possible person to help us win." - Geoff Molson
You guys should look into joining school associations. There are a lot of perks aside from the obvious (new friends/contacts, looks good on CV, extracurricular activities).
I'm a part of JMSM (John Molson Sports Marketing) as of May 1st. Excited.
Quote:
Originally Posted by InglewoodJack
I'd like to remind all of you that there's a politics thread on the tuition hikes, and you guys should comment there. We should keep this discussion to school work!
Anyways, I just found out I got the sufficient prerequisite grade for Cal 1. Happy. Now on to Linear and Micro which start tonight.
Welcome to the dark side mother****er. I'll be sure to haunt you in the MB.
It also shows that it's a major scam... But the domination of the banking industry over governments is another topic that could go on for a long time.
But at some point the government does have money. It does collect taxes. Hell, couldn't it be financed by the "Caisse de Dépôts et Placements" Couldn't it invest some of its money (it does have a huge amount of assets) in order to pay and collect all student loans? Then all interests would go back directly to the government and instead of having to pay for them to banks, it could be re-invested in education. Or whatever else, but at least it would not take public asset and give it straight to private interests for WHAT?
The reason this would likely never happen though and why the government will never talk about this is that banks would never want that to happen, and they would make the government pay in other ways if it took away one of their safest source of profit.
But when you realize that this whole thing is a direct transfer of our government money to banks with interest when they have 0 risk involved... I mean something should have to be done about it. It's a total scam. And I wished for the student movements, since these are NOT controlled by banks, to raise awareness on this.
CDPQ is in place to retain and make money. Using out pension fund as a means of supplying credit to non-collateralized debtors is not exactly sound policy. (Poor investments by the bank aside). The CDPQ has an investment and financing function for corporations and business in the province, not as the central bank for the province.
Guaranteeing loans given by private banks allows the government to lessen its obligation towards the debt contracted by students, while still allowing students to gain access to financing for their education. Guaranteeing loans given by private banks also given students the benefit of looking for the best possible loan in a competitive market, rather than being forced from receiving it from one entity which should, theoretically, be advantageous to the student.The government therefore just has to pay the defaulted obligations and banks are paid interest for their function. I don't seem to see the huge problem here. Holding debts on balance sheets can be dangerous, even if guaranteed.
Otherwise, why would banks have any interest in handing out loans with no-collateral. Sub-prime mortgages at the very least had the nominal value(or value increase) of the homes as a means or amortizing risk. I'm not saying this is the optimal situation, but it functions relatively well, and we all come out of this, at lest theoretically ahead.
CDPQ is in place to retain and make money. Using out pension fund as a means of supplying credit to non-collateralized debtors is not exactly sound policy. (Poor investments by the bank aside). The CDPQ has an investment and financing function for corporations and business in the province, not as the central bank for the province.
Guaranteeing loans given by private banks allows the government to lessen its obligation towards the debt contracted by students, while still allowing students to gain access to financing for their education. Guaranteeing loans given by private banks also given students the benefit of looking for the best possible loan in a competitive market, rather than being forced from receiving it from one entity which should, theoretically, be advantageous to the student.The government therefore just has to pay the defaulted obligations and banks are paid interest for their function. I don't seem to see the huge problem here. Holding debts on balance sheets can be dangerous, even if guaranteed.
Otherwise, why would banks have any interest in handing out loans with no-collateral. Sub-prime mortgages at the very least had the nominal value(or value increase) of the homes as a means or amortizing risk. I'm not saying this is the optimal situation, but it functions relatively well, and we all come out of this, at lest theoretically ahead.
that's the difference... minimising risks...
students loans = no risks at all and it's at the tax payers expense.
You guys should look into joining school associations. There are a lot of perks aside from the obvious (new friends/contacts, looks good on CV, extracurricular activities).
I've visited a few of their websites but, for example, on the FISA site I have no idea how to join or even what kind of events or meetings they hold? Anyone know?
students loans = no risks at all and it's at the tax payers expense.
The issue is that if the downside is not guaranteed, there is no reason for them (Banks) to loan you, as a student, money. With high dropout levels amongst students and often degrees which yield low paying jobs, no collateral, what incentive would the bank have to loan you any money at all?
In situations where an institution has to do something outside of its interest, there is always a concession that needs to be made for their involvement. Same reason charitable donations are tax deductible. I wont comment on the extent of the guarantee on the loans as I have not read up on the terms of the payout by the government.
The issue is that if the downside is not guaranteed, there is no reason for them (Banks) to loan you, as a student, money. With high dropout levels amongst students and often degrees which yield low paying jobs, no collateral, what incentive would the bank have to loan you any money at all?
In situations where an institution has to do something outside of its interest, there is always a concession that needs to be made for their involvement. Same reason charitable donations are tax deductible. I wont comment on the extent of the guarantee on the loans as I have not read up on the terms of the payout by the government.
it's not just a concession... they take ZERO risks and get all the "profits"...
they get their money back with interest, even if the student doesnt reimburse a dime on the loan.
I've visited a few of their websites but, for example, on the FISA site I have no idea how to join or even what kind of events or meetings they hold? Anyone know?
They've already had interviews for next year Executives positions. The best way to get in touch is either to contact them via E-mail, or going to their offices:
Email: FISA
Phone: +1 (514) 848-2424 ext. 7437
Office:
MB 4.433
1450 Guy St. (Corner de Maisonneuve Blvd.)
Montreal
I think these associations are going to look for 1st Year representatives, if that applies to some of you. Otherwise you'll have to wait a full year and go through the application process in the Winter semester.
I'll be an incoming VP in JMAS (John Molson Accounting Society), and there was an application and interview process to follow in mid-March.
it's not just a concession... they take ZERO risks and get all the "profits"...
they get their money back with interest, even if the student doesnt reimburse a dime on the loan.
Why should they have to take on any risk, if they were not compelled to do so by any benefit? There is no benefit whatsoever to grant loans to non-collateralized debtors if they cannot get a guarantee, whether through public or private means. The money simply wouldn't be available, at all, if it weren't for provincial subsidies.
These are measure put in place so that banks could give money to a group which the government considers a natural good, without engendering any undue risk. You cant ask someone to put up capital for something against their interest. Banks are private entities. Opposition to this is simply a demonstration of ones opinions with regards banks rather than the operation of a loan guarantee.
They've already had interviews for next year Executives positions. The best way to get in touch is either to contact them via E-mail, or going to their offices:
Email: FISA
Phone: +1 (514) 848-2424 ext. 7437
Office:
MB 4.433
1450 Guy St. (Corner de Maisonneuve Blvd.)
Montreal
I think these associations are going to look for 1st Year representatives, if that applies to some of you. Otherwise you'll have to wait a full year and go through the application process in the Winter semester.
I'll be an incoming VP in JMAS (John Molson Accounting Society), and there was an application and interview process to follow in mid-March.
I was part of my student association but had to quit because had too much work and school. It's good for CV though.
Why should they have to take on any risk, if they were not compelled to do so by any benefit? There is no benefit whatsoever to grant loans to non-collateralized debtors if they cannot get a guarantee, whether through public or private means. The money simply wouldn't be available, at all, if it weren't for provincial subsidies.
These are measure put in place so that banks could give money to a group which the government considers a natural good, without engendering any undue risk. You cant ask someone to put up capital for something against their interest. Banks are private entities. Opposition to this is simply a demonstration of ones opinions with regards banks rather than the operation of a loan guarantee.
really simple...
there's a part of risk for EVERY SINGLE loan... except for student loans
they're not guaranteed (banks) of making any profits on loan... except for student loans.
they even have ZERO guarantees of being reimbursed... except for student loans
we're not talking about SOME guarantees here or about making SOME profits...
no, it's ZERO risks, 100% guaranteed profits.
guaranteed 100% to be reimbursed and to make a profit, with money taken from MY pockets.
come on now...
the Gvt doesnt need the help of any bank to print checks for the unemployed, TPS/TVQ, etc... but there's no way in hell they can manage student loans without sending loads of cash to the banks ?
