Arrest the lazyass deadbeats and throw their asses in jail like you did the JaySixers! The Student Loan Deadbeats are inciting an insurrection! Throw Pedo Joe in jail with them for inciting this garbage.
Education Access Concerns: The fear of student loan debt and the risk of defaults may deter some people from pursuing higher education. This could limit opportunities for career growth and affect the skill level of the workforce.
Reality: If you know people who can't pay off their student loans, it means their "education" wasn't worth a crap.
Simple Solution.
All student loans should be backed and guaranteed by the school they attend.
If the loan is not repaid, the school must step up and assume the default.
And as a side benefit - Tuition costs would drop like a rock.
They can’t ‘default’ like with a business loan.
They can not pay, but they can’t make it go away.
They have the right to garnish pay when they are employed, at least it used to say so in the contracts.
They get a damaged credit score, and a debt that follows them forever. You can’t chapter 11 or chapter 13 out of student loans.
Because we have a debt-based, printed, fiat monetary system, “money” is created via creation of debt.
Fed.gov and the Left wanted to promote “education” as a political block and social-engineered “public good.”
What they got was a government-backed, debt-fed upward price-spiral and destroyed standards.
Dear Working Americans....Thanks for the free ride...Am enjoying my vacation in Paris with the money I saved by never repaying my college loan.
They do realize the IRS will keep taking any tax returns they would have otherwise received until the debt is paid? At least, that is my understanding.
There needs to be a revolution in education. This current system is obviously broken. It’s also the source of the woke beast that needs taming, why do we keep feeding it?
The way states collect money owned by citizens of other states is to ask that state to pull their driver’s license. I’ve never heard of this being done by the federal government. But if you owe the IRS money, they’ll just take it from your account.
When Congress decided that companies needed to fully fund their retirement plans, they forgot to exempt themselves. Up to that point the companies had used the money that they would have put into the plans for other things. (This is why there is no longer such a thing in the commercial world as a defined benefit retirement plan.) Congress decided that since education loans were almost always repaid that they’d take over the education loan business and use the thirty-year payback to fund the gold-plated government defined benefit retirement plans. Then, politicians began giving loans for degrees that would never offer a payback, like Lesbian Studies. This disconnect between borrowers and the cost of education has directly led to education becoming unaffordable to people who don’t want to spend thirty years in debt. Imagine if you’d bought a $150k house at twenty. The impact of this scheme has been driving inflation and lower home ownership, lower birth rates and a host of social problems. Also, people with Gender Studies degrees are only suitable to work in HR, which has destroyed companies...think Anheuser Busch.
With the recent DACA ruling, I am wondering about “Dreamers” who have large college credit balances? What are they going to do?
Another aspect is that many of those who took out college loans, had parents co-sign those loans. I wonder about the impact an adult child's default will have on their parent that co-signed.
You aren’t working in a bank with a bad credit score. I am sure there are other companies that pull a FICO on applicants.
take it out of their taxreturn...
Good luck funding new college loans.
“Credit Score Damage: When people default on their student loans, it can wreak havoc on their credit scores. This means they’ll have trouble accessing credit in the future for things like buying a home, a car, or even just getting a credit card.”
Good. You’ve PROVEN yourself to be unworthy of future CREDIT because you didn’t pay back what you owed in the first place!
I paid for college via MasterCard and (Army) Uncle Sam. Screw these deadbeats! Stupid SHOULD hurt!
They’ll whine about paying back a student loan at $350 a month whole spending twice that for a new car. And spend $300 on streaming, $150 for unlimited smart phone service. Go out to eat 3 or more nights a week blowing hundreds on booze,
Zero out their credit ratings and add permanent entries into their credit report. Garnishments. Double/Triple the usury credit card fees and interest, if not kill their cards outright, they are high risk. I can probably come up with a few more things to hammer them with until they are old and gray. Show them how the world works.
Duh.
Refusing to repay a loan will certainly dissuade lenders from lending you money in the future.
Then garnish their wages.
They signed an agreement to pay the money back. Too bad, so sad, but they owe it.
Suffering the consequences of their actions is better than any lesson they could have learned while acquiring the student debt overload. Hope it’s a lesson well learned
Awww. Well we can’t have these poor poor college graduates with student loan debt get a bad credit score for refusing to pay their debts. Obviously Biden needs to forgive their debts regardless of how unconstitutional it is.... Poor poor college graduates.