This is becoming a major test for Trump's budget, because federal student loan payments are part of the government's projected revenues. But there are so many defaulters that Trump's Department of Education is afraid to begin the collections process, because it might damage the entire consumer economy.How did the US get into this ridiculous situation? How should it be resolved?
And by the way, 'default' is a trailing indicator, since it requires failure to pay for 9 straight MONTHS, or 270 days. People who haven't paid for 'only' 6 or 7 months don't count, yet.
>>540280857All students should stop paying and simply decide together that they don't owe you anything anymore.What are they going to do about it?
>>540280934Legally, the government can take all kinds of measures to recover student debt. Wage garnishment, liens against property or homes, liens against bank account balances, against inheritances, vehicles, etc.
>stagnant economy>no one getting hired>trump also crashed the memory market with his friend ken from citadel>why is no one payingThe boomers have a sick fixation on making millennial success impossible, which is fully because if everyone stops paying the government will default and all the rich boomers will flee to their bunkers.
imagine a world where you got to stop paying because of covid. following that the president had a site set up to apply for forgiveness. imagine being told you are eligible and your debt will go away then the next president says you have to pay again. who ever started paying again after covid??
Student loans are the only loans that can't be discharged by bankruptcy. They're a double ended scam since the colleges jack up the prices knowing the government will pay, then the government saddles dumb kids who haven't been taught basic economic principles with permanent debt that is impossible to work around in any of the normal ways any other debt could be.
Don't worry the Treasury Department has stepped in to utilize tools like wage garnishment and tax refund withholding to recover overdue balances and stabilize expected federal inflows. You can't hide.
>>540280857This is fine, we have the most billionaires in the world.
>>540280857With what money? It was always a jewish scam so they can fund their nigger sports stadiums as a chess piece in their globohomo world domination plan
>>540280978Wage garnishment?Most college grads can't even get jobs. Good fucking luck.
>>540280857Hiring them and then giving them federal student debt assistance would probably be a great solution if Biden didn't do it!
>>540280857Also, imagine your own government charging interest against you for...LEARNING. Lol. Lmao, even.
>>540280857the payment pause was actually the solution it actually decreased those who were defaulting.
>>540280857im gonna get on ibr, quit my job so i don't have to make payments, then immediately find a new job to avoid paying for another year. if im willing to find a new job every year i can do this multiple times.
>>540280857Why are poor people so greedy?
>>540280857I stopped paying my student loans like 16 years ago. Two years ago I got a letter saying I still owed 20k and they were going to fuck my shit if I didn't do anything. After covid the value of money was so fucked even with the interest I owed it's still comparatively less money than it was when I borrowed it. Fortunately I was single for awhile so I just paid it all off.
>>540281023Yes, the boomers took out student loans to get gender studies degrees. Fuck them. Day of the pillow and all that stuff.
>>540280978lol its true you become communists
>>540281863When the boomers are exterminated for sucking jew dick next comes you, little tranny jew.
>>540280857Ah geez dood, I got these pills for my leg dood.
oy vey pay that back!
>>540280857You can actually take a big loan and move to Europe and be fine. not many people know this.
>>540281229My fiance has got 40k of loans. Doesn't pay them. Hasn't got a job. Owns nothing. The cars are all in my name etc. I have no loans and a 760 credit score. That's how you win against these crooksOn paper she owns nothing and earns nothing lol
>>540281863>the boomers took out student loans to get gender studies degreesNo, they only made it impossible to get unskilled entry level jobs without a bullshit degree, the same that they got with a handshake after dropping out in high school.They made the loans extremely predatory, while at the same time offloading the risk onto the government, so instead of allowing students to default or go bankrupt the debt stands forever.They also flooded the market with foreigners, recognising foreign degrees as equivalent to our own, so the German who paid $100 for his 2 year bachelor degree in engineering from the University of Wank or Mr. Pajeet who forged his documents are allowed to work straight away, while Timmy is paying $50,000 per semester in his 4 year course to just get to the starting line.
>>540282342Well done. Fuck bankers.
>>540282342I'm ok with this as long as you don't inherit her debt when you get hitched and her degree isn't in gay communism.
>>540282562don’t you trash talk german universities, boiit’s the american ones that allow chatgpt hallucinations as masters theses and all their exams are single choice tests with all the correct answers written out in plain english, sometimes just over zoom, like what the fuck is thisas long as you take debt literally anyone can get any degree in the US
Sounds like a good way to convince enlistment.
>>540282342>40k of student loans>no jobsounds about right lol
>>540282562>They made the loans extremely predatory, while at the same time offloading the risk onto the government, so instead of allowing students to default or go bankrupt the debt stands forever.Did Boomers do that or did Democrats do that? I was around in the 1990s. That was Democrats, dude. The Republicans at the time argued that if you guaranteed loans and made the backing the federal government, the schools would naturally skyrocket tuition. They did and they did and now you blame the wrong group. Sad to see. I hate Boomers, but Jesus Christ, at least be fucking honest about their faults and blames. You are devaluing the real criticisms by grouping them with bullshit ones.
>>540285915Everyone 'did that.' Federally-backed student loans originated after World War II, as a sort of civilian extension of the GI bill. Making them non-bankruptible under normal provisions began in the 1970's under Ford and Carter, and continued through George W. Bush.
Tell the Universities to suck it and let them fail. Their scam degrees are worthless. An India straight out of Delhi has a better chance of getting a job than an American with one of those scam degrees. Do like they did to Trump and his Trump U, too, sue the administrator conmen for selling a fake-ass education. Was the real education realizing you got scammed, bro?
>>540285915>They did and they did and now you blame the wrong group.Yeah I've seen mostly blame put on the students. And to that I say, fuck off.
>>540280894I haven't touched my student loan for over 10 years and I never will, haven't made use of any of it, they killed filing bankruptcy on student loans for a reason, death to America.
>>540280857>How did the US get into this ridiculous situation? How should it be resolved?GOP pushing loans for for-profit scam colleges for kids who have no business going to college and drop out and become lifelong debt slaves and cannot ever have kids or get married or ever get a house, all because of the correlation causation fallacy - that college is correlated with high income therefore everyone should go to college to get high income - but it dont work that way
>>540280857>be das boomer / late gen x'er>push your kid to go to university>kid attends and has to take on massive debt because the tuition fees have grown massively since a few a decades ago>after graduating the kid cannot find a job to pay back the loan>"You took a loan... Pay it back" t: das boomerEven in countries where education is supposedly free people have to take on tens of grands of debt without a guarantee of a job, meanwhile all the "low-skilled" jobs go to migrants even though there are plenty of unemployed mechanics and plumbers. It's a shitty situation all around
>>540280857I stopped paying. Fuck they gonna do. Take my non existant social security in 30 years?
>>540287092The universities have no liability. They get the tuition money free and clear from the government. The government bears 100% of the cost of defaulted loans.
>>540280857>federal student loan payments are part of the government's projected revenues.This sentence should be carved into the entrance of every single high school in America.
>>540281863Boomers used higher education to gatekeep jobs for decades. Now they expect a janitor to have a bachelor's. You created the problem that propped up fraudulent universities and meme degrees in the first place. But once again boomers cannot ever admit fault as they bleed everyone dry for a lavish retirement.
>>540287518let's go do some heroic shit, we can save them kids
>>540280857Bump
