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Defiant Student debtors refuse to pay back loans: ‘I’m not gonna feed this monster anymore’
New York Post ^ | 11/19/2022 | Joshua Rhett Miller

Posted on 11/19/2022 9:36:54 PM PST by SeekAndFind

Stick a fiscal fork in ’em: These student loan debtors are done.

As they contend with a second legal setback to President Biden’s estimated $430 billion student debt cancellation plan, some exasperated borrowers told The Post they won’t ever pay another penny toward their massive tabs — regardless of how it might impact their future finances.

Rather than having up to $20,000 forgiven as Biden vowed in August, the fed-up debtors remain among the more than 45 million borrowers who owe a total of $1.6 trillion in federal student loans. The average undergraduate borrower leaves college with nearly $25,000 in debt, according to a Department of Education review, and payments often start six months out of school when cash can be especially tight. As a result, roughly 16% of all borrowers are currently in default, federal data shows.

Halted at the beginning of the pandemic, monthly loan bills are set to resume in January unless the pause is extended for a ninth time. But current and former students, including one who owes a staggering $118,000, said the looming payments are simply above their pay grades, especially in post-pandemic America.

Some 26 million people applied for the loan relief plan that critics claim could intensify inflation and 16 million had already been approved as of last week, White House press secretary Karine Jean-Pierre told reporters.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: chat; collegeloans; debt; education; students
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To: Wally_Kalbacken

Did you ever play the board game Junta? Basinc idea is each player in behind a powerful family in a banana republic and who ever has stolen the most by the end of the game wins.

Half or more of the fun was hamming it up and role playing the leader for the people your family backed, prattling on about the “people’s tank” or the great patriotic army squad while suppressing a riot.


21 posted on 11/19/2022 10:04:53 PM PST by Rurudyne (Standup Philosopher)
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To: SeekAndFind

The big problem is that these students entered into a contract which legal and not entered under duress. No one, not even the prez can say to a party to either party you can quit paying.

Biden could take taxpayer’s money to pay off debt on behalf of the students. And that would be real vote getter move. Not!


22 posted on 11/19/2022 10:06:09 PM PST by amihow (It is Western Civilization that confers privilege, not whiteness. Ask Carson, MLK, Sowell.)
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To: TheBattman

He was successfully transformed into an entitled piggy wanting to suck on the public teat ... my guess is he is just what they want to create.


23 posted on 11/19/2022 10:08:13 PM PST by Rurudyne (Standup Philosopher)
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To: SeekAndFind

“But current and former students, including one who owes a staggering $118,000, said the looming payments are simply above their pay grades,”

Payments are based on income, not on amount owed.

Assuming $25 gross income the dude with $118k will pay $86 a month.


24 posted on 11/19/2022 10:08:24 PM PST by TexasGator (!!!)
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To: SeekAndFind
But current and former students, including one who owes a staggering $118,000, said the looming payments are simply above their pay grades, especially in post-pandemic America

But that useless education wasn’t above your pay grade when you took out a LOAN you knew you had to pay back.

Put yourself on a budget and man up and pay it off.

25 posted on 11/19/2022 10:08:37 PM PST by metmom (...fixing our eyes on Jesus, the Author and Perfecter of our faith…)
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To: SeekAndFind

What was his manor? I want to tell my granddaughter ot to enroll in. LOSER.


26 posted on 11/19/2022 10:12:28 PM PST by Kozy (new age haruspex; "Everyone has a plan 'till they get punched in the mouth.")
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To: Dr. Franklin

yep


27 posted on 11/19/2022 10:14:09 PM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: TexasGator

$25k


28 posted on 11/19/2022 10:16:04 PM PST by TexasGator (!!!)
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To: dennisw

“If my degree was in indigenous basket weaving and had $30,000 in student debt, and still flipping hamburgers, I would do the same.”

He is not even flipping burgers. Probably Antifa living in his parents basement.


29 posted on 11/19/2022 10:18:20 PM PST by willk (Local news media. Just as dangerous as national media.)
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To: SeekAndFind
Looking at him I doubt he has much trouble coming up with money for pot.

We need to bring back debtors prisons.

30 posted on 11/19/2022 10:25:41 PM PST by GaryCrow
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To: willk

If these students owed $50K on a Tesla or pickup truck that would be no problem. They would call it an investment.


31 posted on 11/19/2022 10:28:26 PM PST by Stevenfo
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To: SeekAndFind

The solution is to demand the colleges and universities repay the student loans using their endowments which run into billions of dollars.

If the students were ripped off, it is the colleges and universities that screwed them. If higher education is a scam, let the scammers payoff the loans. The scammers got the proceeds of the student loans and gave the students no way to earn their way out of the debt created by vastly overcharging for college educations.


32 posted on 11/19/2022 10:32:49 PM PST by Gnome1949
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To: SeekAndFind

pure deadbeats, period.

The lie of unemployment numbers being rosy:


Carlson asked Rowe what young men are doing with their free time if they are not actively looking for a job or already working somewhere.

“On average, over 2,000 hours a year [5.5 hours/day, average!] on screens,” Rowe said.

“You know, four million fewer people are in the workforce today than before the lockdowns and four million more jobs have opened up. It’s almost a perfect mirror image and the reflection is kind of hideous.”


https://headlineusa.com/mike-rowe-millions-of-young-men-not-looking-for-work-in-u-s/


33 posted on 11/19/2022 10:39:58 PM PST by ApplegateRanch (Love me, love my guns!)
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To: SeekAndFind
According to his LinkedIn profile, his major at Utah State University was Landscape Architecture and Environmental Planning.

Now he's a self-employed Game Artist.

34 posted on 11/19/2022 10:44:28 PM PST by Toddsterpatriot (TANSTAAFL)
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To: SeekAndFind

These people voluntarily entered into personal debt.

No one forced them to take these loans out.

I paid mine back, double time.


35 posted on 11/19/2022 10:48:27 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: Secret Agent Man

da phuc i am paying anyone else’s debts back


36 posted on 11/19/2022 10:49:03 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: Olog-hai

They had no problem with the monster feeding them. Never mind voting for the monster that fed them. That makes them ungrateful children of the monster, thus monsters themselves.

If the loans are charged off they will meet the real monster, the IRS.


37 posted on 11/19/2022 10:52:58 PM PST by rxh4n1
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To: SeekAndFind

A partial solution would be to reinstate the Draft, and not just for the military. Include any Government service that needs workers. Minimum wage, section 8 housing (that is close to their job). 2-4 years of service depending on the size of their debt.


38 posted on 11/19/2022 11:06:50 PM PST by MCF (If my home can't be my Castle, then it will be my Alamo)
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To: SeekAndFind

FU U F n A FREELOADING A HOLES!!! I am NOT responsible for you crap decisions.


39 posted on 11/19/2022 11:11:37 PM PST by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: SeekAndFind

Lazy destructive dirtbag.


40 posted on 11/19/2022 11:23:53 PM PST by neverevergiveup
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