Since GM is now owned by taxpayers, I would like to institute that I don't need to pay for my car loan anymore. Technically I own a portion of the company that produced my car, right? I don't like the fact that I purchased special order non-returnable domestic car parts for my damn taxpayer owned car. I'm pretty sure that had I brought my car to the dealership, the wiper blades would cost more to fix than the wipers on the Audi. When I can find 321 ways to spend that money every month instead of paying for something that won't even be made in 4 years, the temptation to stop paying the loan now that I own a portion of the company is just too strong to let go...
http://www.thinkaloo.com
Showing posts with label loan. Show all posts
Showing posts with label loan. Show all posts
Saturday, June 27, 2009
Monday, May 25, 2009
How the gov can help with student debt repayment
Not all graduates whose education costs $30,000 or more a year will land high-paying jobs and fully repay the student loans fast and get out of debt. I see two ways of creating a system of debt-free graduates. The government fully repays the loan upon graduation if the starting salary is below a certain range and adjusts income tax a little higher for the individual in that income bracket. Or the government doesn't repay the loan but doesn't collect taxes either until the loan is fully repaid.
http://www.thinkaloo.com
http://www.thinkaloo.com
Friday, May 1, 2009
Take year-off loans to travel
How about a new type of loan for students or workers who want to take a year off (or more) in a foreign country and work as volunteers for a cause? The loan will be repaid in work hours, not in cash. The applicant will indicate how many hours he is willing to work a day and based on the minimum wage for the country calculate the total amount of the loan for the specified duration.
The bank or other organization disperses the loan in daily installments based on whether the applicant checked for work or not that day.
This is what it might make sense for a bank to do that. Usually banks hand out lump sums to charities or non-profit organizations and save on taxes. Why not hand the money to the volunteers directly who will work for the charities? The difference is that More people will probably volunteer if they hear they can take a year-off loan to travel that they repay through work than if a charity advertises its work and asks people to join it.
It will also be good PR for the first bank that tries it as it will enable it to build brand and loyalty with young people based on an experience that was fun early on in their adult life. The bank will thus be able to sell more of its products to them in the future banking on that loyalty and brand it built early on.
http://www.thinkaloo.com
The bank or other organization disperses the loan in daily installments based on whether the applicant checked for work or not that day.
This is what it might make sense for a bank to do that. Usually banks hand out lump sums to charities or non-profit organizations and save on taxes. Why not hand the money to the volunteers directly who will work for the charities? The difference is that More people will probably volunteer if they hear they can take a year-off loan to travel that they repay through work than if a charity advertises its work and asks people to join it.
It will also be good PR for the first bank that tries it as it will enable it to build brand and loyalty with young people based on an experience that was fun early on in their adult life. The bank will thus be able to sell more of its products to them in the future banking on that loyalty and brand it built early on.
http://www.thinkaloo.com
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