Department of Education resumes collecting student loans, including those in default.
(www.cnn.com)
🏫 STUDENT PANIC 🏦
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I have loans, and I will prob be paying until I die. I have a bs and a ms and i dont expect anyone else to pay them. However, i think the interest rates are predatory for student lending. I think a minimal, flat, unchanging interest rate should be offered or fuck just an admin charge to the amount loaned. Our govt shouldnt be making money off of student borrowers.
Government has to get out of student loans. When loans are guaranteed, people can always pay tuition. That means universities can always slowly creep up what they ask. Everyone can get loans to pay it. No one says no because it's your future on the line.
The only way you get tuition to go down is if people say "no," it's too expensive. That can't happen if loans are guaranteed. That's going to mean people who might benefit don't get to go while nepo babies still get to go on Daddy's credit card. That's reality and you can't do anything about that.
But we have to get universities to start feeling negative financial pressures and start competing to offer better value instead of a better all-inclusive four-year vacation experience.