You signed the papers, just like I did, so you can pay it all back just like I did. Those refusing to pay hopefully will see their credit ratings go in the toilet.
Some college graduates are suggesting there should be a general boycott on repaying student loans, once the current federal loan payment pause ends in the summer.
The debt ceiling deal agreed between President Biden and Speaker Kevin McCarthy says the pause, initially introduced as a temporary measure during the coronavirus pandemic, will "cease to be effective" from 60 days after June 30.
Student loans have emerged as a highly charged political issue in recent years. On Thursday the Senate backed a House resolution that would cancel Biden's student loan forgiveness plan, which would wipe $10,000 from the debt of most borrowers, and up to $20,000 for graduates who received Pell Grants. The president has pledged to veto this bill, which he described as "an unprecedented attempt to undercut our historic economic recovery." The Supreme Court is expected to rule on Biden's plan in late June or early July.