Posted on 07/01/2023 10:54:59 PM PDT by MinorityRepublican
Some student loan borrowers encouraged others to default on their loans "en masse" following the decision by the U.S. Supreme Court to cancel President Joe Biden's student loan debt forgiveness plan, but one expert told Newsweek why that may not be a good idea.
"Okay, thing I can actually talk about: Mass default on student loan debt would be a really effective message and f*** you to this country from the folks most impacted by our constant slide backwards. Just don't pay it. Hit the bricks. En masse," Twitter user Derek Van Dyke wrote.
On Friday, the Supreme Court reached a 6-3 decision to side with Republican-led states and cancel Biden's student debt forgiveness plan, which sought to cancel up to $10,000 in debt for borrowers with an income of $125,000 or less and up to $20,000 for Pell Grant recipients.
Payments on student loan debt have been paused for several months dating back to former President Donald Trump's administration. However, under the recently signed debt ceiling legislation, payments are set to resume in October and interest on the payments will resume in September.
(Excerpt) Read more at newsweek.com ...
I would tell them to go ahead and default, and good luck repairing your credit afterwards.
I hope they do, takes them out of the housing market, higher insurance, crappier credit cards, subjects them to judgements - all well deserved.
It would fix student loans for good and leave universities without sucker first year students.
I’m going to join the consensus on this thread and say ...
“Go ahead, skin that smoke wagon and see what happens!”
My thoughts exactly.
I would suggest that the Biden Family has the resources to help students in debt.
U.S. House Speaker Nancy Pelosi on Student Loan 'Forgiveness' (July 2021) video 1:20
And there would be no more student loans unless the government put up the funds directly.
Brainwashing is complete with this batch.
“Several months” when Trump started the pause in May 2020 and it’s July 2023, that’s about 38 month ago.
Give me a break! Payments start in Sept/Oct of 2023. And they are whining. Imagine if we had no credit card or other debt interest during that time? How much would it have saved Americans?
Yeah, she’s been like an animatronic corpse for quite a while now.
But she was telling the truth that time which is unusual.
Probably trying to signal Joetato to not take this too far and
spare himself the blowback he’s getting now. So much for that!
The only reason Poopy Pants made that promise was win the ‘22 midterms
but he just couldn’t let it go after the election.
Not true. This particular give away promise predated the 2020 election. Then Biden supposedly studied and agonized over how to do it, and hit upon its brilliant roll out for the midterms
There are thresholds and consequences for bankruptcy, and they’re not pleasant especially when fraud is involved.
So, he used it for two elections.
Now he has a new plan (see #17) he can demagogue for 2024.
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