Department of Education resumes collecting student loans, including those in default.
(www.cnn.com)
🏫 STUDENT PANIC 🏦
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As unfairly crushing as student debt is, there was an option to NOT take on loans and choose a different path in life, that path is always there. Unfortunately, they signed the papers and they are now on the hook.
And no, the rest of us honest Americans, especially the blue collar workers, need not to help them out.
The best compromise is to drop the interest rates to 1%. It’s the interest rates more than the principal that crushes people.
I hope that’s simple interest and not compounding.
For a long time debt was hyper predatory, as someone who filled out fafsas in 03, there were so many loans offered that were not even called loans, words like state sponsored grants, school choice banks, etc
And of course, no terms and conditions provided within the fafsa, you could only get them after the application
Then you got to campus, and along the campus walkways and common areaa, everyfay third party vendors for banks offering students credit cards, some from legitimate banks but some from smaller brands like "clout visa" or "surge" that gave ANY kid a $600-3000 credit card just for signing up
Add to that the entire lie of what college was supposed to be, the idea you would amount to nothing in life and be forever alone if you did not go to college. Or you would end up in the military. And even the military was sold to you as a way to get to college..
None of us born 1983 to 1998 should be judged by that kind of mentality, because while every other aspect of 90s life was better than today...academia and the bankers were already working towards the cabal plan
Wonderfully said! I feel like a loner for being on the believing side that student loans should be forgiven. Like you said, academia and bankers were actively working towards the cabal plan at that time. It’s something I wish other patriots would view from a different perspective and put their measuring stick away. People view this issue very personally because they have either paid theirs off or won’t get a hand out, therefore their inner child feels it to be unfair.
Mass forgiveness isn't the solution, but some sort of empathetic policy needs to be discussed. Yes, they took out loans and yes they have an obligation to pay them back. Welcome to being an adult. BUT...
If you went to college today, you thought you'd have a job when you got out, only to put out 500+ applications, hear back from 3 of them, and get rejected from all 3 at the interviews because you didn't have experience (as a new grad) or they found another candidate who was a better fit (you had the wrong demographics), etc.
I've been there, done that. I even went back and re-trained only to run into the same buzzsaw. So what do you do when corporate America aligns with racist Democrats to destroy your life for the sake of promoting "equity"? Telling the young adult who literally did everything they were supposed to do only to get futtbucked that he's going to have the rest of his future destroyed, that he'll never own a home, never be able to support having a family or kids as well isn't the solution. That's a path to a lot of 988 calls. People are just going to check out. This is quite literally S. Korea and to a lesser extent Japan right now. They're about 3-5 years ahead of us on this.
What they need are jobs, and if necessary, government-mandated job placement. Allowing corporations to continue this farce of lying and claiming no Americans are capable so they can continue to milk H1B and H2B visas is a joke. That needs to stop ASAP.
I agree with everything you said. Forgiveness would be great, an empathetic policy would be good. What wouldn’t be good at all is expecting these people who have been screwed to pay it back without questioning. If we’re here we are questioners. I’m not giving them my money every month without putting up some sort of resistance. The payments are supposed to start 5/5. Coincidence? I think not.
I know this is from a couple months back but just wanted to say I agree 100% - although every time I've posted how unfair it is to perpetually capitalize student loan interest and then keep charging interest on interest on interest, as if that, too, were borrowed money, the responses have been firmly on the side of the central banks. "At 17, you knew EXACTLY what you were doing financially, like all teenagers! And you knew all the ramifications of that loan, you understood precisely how the interest would be constantly re-capitalized; so screw you, pal. I'M not paying back your loan!" Like they get a bill every month for someone else's student loans.
Teenagers (the people we look to for the smartest, wisest financial decisions for a lifetime!) make a poor financial decision to borrow money based on optimistic ambition, slick advertising and wide-eyed promises of a fantastic future; and suddenly they become an ATM FOR LIFE for the Big Bank. Suddenly the private western central banking system is the best! You need to live like a pauper your entire life, as long as (((they))) get paid back every cent, with interest. On interest. On interest!
"Interesting" how Congress voted to make student loans—of all things—the only kind of loan that can't be discharged in bankruptcy to give the person a new start in life. I was a debt slave for three dozen years. No more! I never owed the money I didn't borrow, so I didn't pay it. Oh well.
of course one has to pay it back.