Thursday, April 24, 2025
"Student and parent borrowers—not taxpayers—must repay their student loans"
On April 21, the Department of Education announced that it would resume collections on defaulted federal student loans, making a clear break from student loan policy under President Joe Biden, who consistently worked to forgive or pause federal student loan payments even as he faced legal defeat.
Subscribe to:
Post Comments (Atom)
About fucking time!
ReplyDeleteThe brain dead fake president violated many court orders, student loan debt is just 1, by just ignoring them.. Maybe President Trump should just do a biden and do the same
ReplyDeleteJD
This is a good start. The next one is to stop the fed.gov from guaranteeing student loans completely.
ReplyDeleteThat would accomplish two things. First it would stop young people from going into unsustainable debt.
Second it would eventually bring the cost of college down. Colleges and Universities would no longer need to attract students with lavish dorms, union halls, over priced athletic facilities for both sanctioned sports and intramural sports, and high recognition professors. Instead they would have to compete for students with a quality education. And at a price point that the AVERAGE American family can afford.
Look at Hillsdale University, a school that accepts absolutely no federal funds from students. Instead they work with the students to help them graduate with no debt.
They do that by helping students to get jobs and school work programs like cafeteria workers or maintenance help.
I am certain that many other schools, both conservative and liberal, would follow their example, with the added bonus of no longer being controlled by the fed.gov due to money accepted from Uncle Sam.
Right on!
DeleteThat, and make the universities the co-signer on the loan obligations.
DeleteRead the second sentence ten times!
DeleteWhen the government started the loan scam, tuition immediately shot up. Salaries for the liberal tenured also went crazy. It's a scam thanks to Liawatha to boost money to those who indoctrinate our kids.
DeleteStep 1, make the schools assume the debt. Step 2, enact legislation that keeps the government out of the loan business.
If I recall, government got further, if not permanently entrenched in the student loan business thanks to line items buried deep within the ObamaCare legislation.
DeleteI wanted mortgage forgiveness where the hell is that?
ReplyDeletePaid mine back, never occurred to me there was an option of not paying.
ReplyDeleteIf I were duped by the student loan scam / lifetime debt slave scam, I would simply refuse to pay and either work off the books or fly back home if I had dual citizenship. Plenty of people have repaid their loans several times over, but the usurious interest means they still owe more than they ever agreed to borrow. The high paying jobs they were promised got cheap-shored or automated, leaving graduates with no means to repay; and if the good paying jobs were just pie in the sky, then so to is repayment. The "money" is ultimately a bunch of 1's and 0's in a computer system that can be deleted as easily as it was created.
ReplyDeleteThis would be solved overnight by adopting the V4 model where everyone that meets entrance exams and passes their classes has their education paid for by the taxpayers. The system works best in nationalistic countries that still have their tribal identity, so mileage in the USA may vary. I have more socialized education at my disposal than I know what to use on, merely because I signed up to fight for big capital and the international financiers. It's a crap-shoot if a chemistry degree (BS or Ph.D) will even land me a job in the USA that pays more than minimum wage.
Been saying for a long time that the USA will soon face the brain drain. Europe and eastern countries are redoubling their efforts to scoop up our top researchers and highly skilled professionals. The upper-middle class with the means to move overseas for a better life, working conditions, worker's rights, etc. will do so with increased frequency as the attacks on the NLRB and labor unions continue.
- Arc
Using your reasoning, why not cancel all debts across the board? Mortgage, credit cards, etc. After all, they're just 1s and 0s on a computer screen.
DeleteWhat you don't take into account is the fact that older generations are men and women of honor and when we incur a debt, we pay the damned debt. But GenRainbow thinks the world owes them a fucking living.
Arc ....
DeleteI've read a lot of mumbojumbo BS on your rants here but I have to give you the award for this because it's the biggest load of bullshit I've read in a long long time..
Just pay your damn bills and stop borrowing if you can't pay it back
JD
Because you were capable of understanding what a $100k loan with insane interest rates would mean when you were 18? Really? We're happy when we keep unmarried 18 year olds from getting pregnant! But they're supposed to rationally grasp the real consequences of a loan like that, when literally everyone in their life that they trust has been and is telling them to sign the papers and get the money because without college they're a failure? FFS.
DeleteIf you don't support making college loan debt subject to bankruptcy filing again, as it used to be, then you can pull a Kurt Cobain as far as I'm concerned.
If you would support that, but nonetheless object to obviating the debt by erasing the records of what's owed for he government, and seizing all public university endowments as compensation, then I think you're silly, but not a sociopath.
Bankruptcy is a minimum. If you're not cool with letting people file for bankruptcy, you're worse than a fool.
("You" being a universal, not specifically referring to anyone in this thread)
Who's not capable of understanding loans and interest rates at 18 years of age? You're not even accounting for Mom and Dad. Where the fuck were they when those decisions were being made? Or were they as dumb as the kid when it came to figuring (or not figuring) that shit out?
DeleteLet's not forget a young man or woman can enlist in the military at 18.. In my opinion that is more life changing than taking out a loan, speaking of which an 18 y/o can do to buy a vehicle, home, get a credit card and all the other things that adults can do.. Hopefully they were taught responsibility by their parents and responsibilities include paying your debts.. Taking a loan to go to school to spend 4 years learning nothing valuable is not the responsibility of anyone else but the student..
DeleteJD
Which is harder? Understanding a map and compass when you've been taught how to use them by men whose job is teaching you well enough that you don't die,
Deleteor
understanding loans and interest, and "not dissolvable through bankruptcy" when the most anyone has taught you about them is that you'll need a loan to afford college if you're not brown, black, female, or gay enough to qualify for a scholarship?
If 18 yearly olds should all understand the ramifications of loans and interest well enough to not sign a contract that (unlike literally any other form of financial debt) cannot be voided through bankruptcy, then I'm sure no 2nd lieutenant ever got into trouble with a map and a compass. And no sarge ever dreaded hearing "I was looking at the map, and..."
Right?
It's ultimately irrelevant, unless Trump plans on spending billions more than is owed, imprisoning millions in debtors prisons, those rascally gender studies majors (all 50+ million of em, apparently*) are going to get away with not repaying their loans. Because you cannot get blood from a stone.
*because everyone knows getting a degree in engineering or medicine totally guarantees you a well paying job sufficient to cover all the principal and interest on your college loans while also feeding yourself and having a family... All the tens of millions of people who have defaulted on their student loans that never should have existed to begin with must be gender studies majors or something useless like that.
TL:DR
2nd lieutenants are supposed to be better than your average 18 year old civilian, and they're incapable of using a compass safely. But civilian 18 year olds should totally be expected to be forward thinking enough to turn down the loans their school and parents actually facilitated them applying for.
Yep.
Also the loans won't be repaid. And the national debt won't even be affected.
That is a start. Now make sure large corporations pay their taxes. Amazon, Tesla, Facebook, Google pay $0 in taxes year after year.
ReplyDeleteWhile we are at it, the GOP is planning to add 5 trillion dollars to the debt in the form of a tax break. If I and the next 14 generations of my family will be on hook to pay for that debt through my taxes then make sure we get the benefit of the tax break! Last time around all of the benefit went to the top 1%
Go back to mommies basement.
Delete4:13,
DeleteWe owned a restaurant business for ten years.
We never paid taxes, nor insurance nor utilities.
We also never paid wages to our cow-orkers.
Who pays all business expenses?
The customers.
Maybe its hypocritical of me since the Air Force tuition program paid for my undergrad and the G.I. Bill paid for my masters but if you take out a loan, you pay the loan. I have worked for several organizations that have tuition assistance programs and they are typically underutilized, I guess because there are program and grade requirements. I also don't like the idea that you are less than worthy if you don't have a degree.
ReplyDeleteSure, make them pay back the loans. My eldest sister got a loan for $100k to pay part of the costs to become the neurosurgeon she is today. At this point she's paid $150,000 back, and still owes over $100k. Thankfully she makes enough to afford paying interest back as well as principal. But she's blessed. The bulk of her 50,000,000+ peers are less blessed. And the majority of them don't have gender studies degrees. They wanted to be engineers, doctors, scientists, or work in business. But a college degree is the minimum to be hired, especially if your skin lacks sufficient melanin. And they can't file for bankruptcy and accept the hit to their credit, to escape the burden of those loans, which they would never have accepted, knowing at 18 what they know now. I know 5 people, personally, who literally work to pay the principal. They make 3-4k a month, and 70% of that goes to a portion of the principal. The interest? Just grows. Math is hard. Double loop thinking is even harder. That which cannot continue, won't.
ReplyDeleteTo translate the above ^
DeleteThose five people will never pay off their loans. Ever. They're barely paying the principal. So they're not going to be able to have families, or buy homes, or in any significant way impact the economy. They're basically dead. The fact that the government gets to pay zero interest on tax refunds, but can charge ruinous interest on their own loans...will never cease to be hellishly amusing.