PERSONAL FINANCE It’s a ‘massive student debt strike’ activist says, as millions of borrowers still aren’t making payments

CNBC.Com ^ | WED, DEC 27 20232:29 PM EST | Annie Nova

[Jan_Sobieski]

Student: “Why hasn’t my 200k Doctorate in Gay, Lesbian, and Transgender Dance theory gotten me any job offers?”

College: “Homophobia is a big problem today. Keep getting degrees…eventually you’ll have lots of offers!”

[Sgt_Schultze]

A new R Congress/Senate/Trump47 need to legislate existing student debt-holders are free to sue those colleges where they graduated in federal court. If their degrees aren’t marketable after school, the product offered was intentionally deficient, and the schools is responsible for continued cost-free retraining or refund of fees paid, with interest. State colleges will not be immune from these actions.

[Sgt_Schultze]

lol! Schools is = school is

[Keyhopper]

And bankruptcy doesn’t erase a student loan.

Guess who put that in the fine print when the government decided to start student loan program.

Ding,ding, ding, that’s right FJB

[Marko413]

Just echoing what others are saying. If they are not getting jobs to pay the loans on these degrees, then clearly the degree was not worth it. Get the message America! College is not what it used to be.

[Uncle Miltie]

Hang the “BANKRUPT” albatross around their neck and make them unemployable.

[bobbo666]

Hmm, and that is a bad thing?

We really want a pack of losers who cannot plan or manage debt working in gov’mt?

[Svartalfiar]

The students received worthless degrees they cannot use to improve their income needed to pay back their student loans.

To be fair, a lot of these kids chose the worthless degrees, it's not entirely the colleges' fault!

[Svartalfiar]

The fact that up to 40% of borrowers didn’t make a payment “reflects exactly what we’ve been warning would happen should Biden turn the debt collection apparatus back on,” said Astra Taylor, co-founder of the Debt Collective, a union for debtors.

....And so her solution is to simply continue allowing no one to pay their loans back? When does she think we should start doing so?

[bgill]

Mr. b and I paid our tuition each semester on time and in full. We scrimped and saved for our kids’ tuition. I’ll be if we have to scrimp and save for everyone else and their illegal cousin’s tuition, room and board, expense account and every whim.

[flamberge]

And bankruptcy doesn’t erase a student loan.

It should. Debts which cannot be paid will not be paid. Bankruptcy laws were established to deal with this in an orderly fashion.

And the student loan programs should all be ended. They are a massively unsound investment in worthless credentials and the only beneficiaries are academic administrators. This grifting system must be shut down.

Most of our institutions of "Higher Education" should be permanently closed. At best they are useless, at worst, some are actively harmful.

[cgbg]

“Seize the endowments and pay off the student loans.”

I would be more targeted—claw back from each school every penny on unpaid student loans.

Make it the school’s liability.

If some schools go bankrupt as a result...good!

[Libloather]

“Unless the [Education] Department is allowed to provide debt relief..."

They got one job, and that ain't it.