Some basic U.S. student loan information.Total U.S. student debt: $1.84 T.How much of that debt is federal vs. private? 90%. That is $1.69 T in FEDERAL DEBT.What is federal student debt? Those are the subsidized loans through FAFSA. What does subsidized mean? It means the U.S. government is a co signer in the debt. If the payer defaults and the bank cannot recover the debt then the U.S. government is the payer of last resort.For comparison, the 2008 financial crisis was based off of about $1.2 T in bad debt.Biden was trying to put some water on the fuse to a fincancial time bomb and Trump has run in and dumped a can of gas.Hopefully this will be one of the magic times the current SCOTUS takes up a serious matter and miraculously issues a non authoritarian ruling.Anyway, have fun paying off my student loans when I die because I have no assets, no income, and make zero in payments.I wonder how many more out there are like me?
https://www.fool.com/research/student-loan-debt-statistics/
>>530365525>Anyway, have fun paying off my student loans when I die because I have no assets, no income, and make zero in payments.Why don't you find a job and accumulate assets?
You took out a loan, now pay it back.
>>530365525>I have no assets, no income, and make zero in payments.Congratulations, I guess. What's your plan when mommy can't or won't take care of you?
>>530365525>Student loan debt hits $1.8 trillion with a large portion held by women and people of color.Have you tried being a White man who pays his bills?
>>530365525>im going to stay poor forever and not work to avoid paying a little 50k loanThat is not a viable life choice. Your loan will not be forgiven. Suck it up and work hard for a couple years and knock it out, then move on with your life.
>>530365525Your college degree was a complete waste of time and money, it seems. With a federal student loan, the government lends you money to give to a university. The "subsidy" is a slightly lower interest rate. If you don't pay, the government doesn't have to pay a second time, but rather loses a bit of revenue.
>>530365525I had all of mine forgiven 140k worth. He he he he he he he he
>>530367652The behaviors you are suggesting are disincentivized.
>>530367652>accumulate assetsyour yarmulke betrays itself.
>>530367744I took out my cock. Now suck it.
>>530369136Huh, youre right. Direct from the treasury. Oh well, they aint gettin that shit back.
Tranny here.I borrowed $200,000 for my masters in Gender Studies.Chuds will pay the bill.
>>530369452Aint even mad. It should all be forgiven.
>>530372539See, thats a worthless degree. Might was well have a degree in theology or star wars.
The student loan system is a scam designed to transfer money from the feds to the university system, using 'students' as conduits. In an economic sense, loans are a federal subsidy to keep university administrators rich.It's odd how this fundamental nature of the system is almost NEVER mentioned by people who discuss student loans. The focus is entirely on the students, even though they have the least amount of power in the government-student-university triangle.
>>530372766Compsci is quickly becoming a 'worthless' degree despite the government, schools, teachers, and others screaming at kids to learn to code for the past decade.
>>530372774Universities shouldnt be dependent on tuition for funding, they should just be funded. Capitalism is the problem you are describing.But you will respond with, oh no, some middle man waste is necessary because there is no freedom without a millionaires boot on your neck.
>>530372869Not a problem for natural science majors.
>>530372869Also, theres a difference between not being in market demand and being worthless. Even if its not in market demand comp sci is valuable knowledge.Gender studies knowledge is as valuable as bible knowledge or harry potter trivia.
>>530365525A couple daycares and autism centers could pay that off in a few months
>>530365525>Graduate 2015, 25k in loans>milk the grace period, use some forbearrance>working+start MS program part time+only go 1 semester a year which drags out the interest and no payment period but have another 25k in grad loans which still accrue interest>after grace period, made about 3 payments in 2019>boom covid...forberrance/SAVE plan...6 years no payments/interest!!!>SAVE plan is grandfathered in so no payments required at all until 2028.I've had 10 years to save and invest, and unless some shit goes down in the courts, it's at least another 2. When that day comes, if I am happy in my job, I'll continue the charade for as long as it's worth...but, I will be in a position to quit, and keep my taxable income low enough that the IBR payment is fully subsidized. Zero fucking chance I personally pay back more than 10 grand total...and that's 10 grand 2030 money...when it was borrowed 2015-18.
>>530365525Was actually making timely payments under Biden’s SAVE plan. Then (((Republicans))) canned it because they decided locking interest and holding payments at 5% of income was unconstitutional. Now I’m in limbo because I can’t make payments under my old plan and the cheapest new IBR plan is triple what I was paying before and I can’t afford it.
>>530365525Banks do not give student loans, they are all held by the federal government (since 2002?)
