Students Are Refusing to Pay Back Their Loans When Payment Pause Ends

[Vastator]

The taxpayers gave them the money in the first place. Why wouldn't they be on the hook for it?

Well in truth, the government took the money from the taxpayers, and then loaned it out. This wasn't a loan voluntarily given by the actual taxpayers, with consent...

 

[Mac1958]

There will be consequences.

If there is any forgiveness, it needs to come from the schools themselves.
Not the taxpayers.
Use the large endowments, not my taxpaying $$$$'s to pay off these loans.

Yeah, a borrower just not paying back a loan is not the way this has to go. That's not how it works.

I'd like to see participation by employers. Maybe there can be some incentive for them to help. Or maybe have employers sponsor kids, something like that.

But yeah, this starts with the schools.

 

[multivita-man]

Two of them being casino's where the business model is literally people walk in and hand you their money.

Wow.

WW

 

[okfine]

The taxpayers gave them the money in the first place. Why wouldn't they be on the hook for it?

Loans are loans no matter who provides them.

 

[two_iron]

It will get ugly quickly. They'll garnish wages. Uncle Sam doesn't fuck around.

Yeah, the gummint really doesn't care that you're morbidly obese with green hair and like to fuck border collies... that's all theater.... they're gonna get their money.

 

[Resnic]

Of course they don't want to pay it back.

It's a generation of pussy ass bitches raised to believe they are special and unique and amazing and that they should be protected from everything and they deserve everything just for showing up. Then they have parents and politicians telling them how hard they have it and how they shouldn't have to pay back loans they decided to agree to and not be responsible for their own actions.

We don't raise strong, intelligent, decent, moral, ambitious and responsible people anymore on the whole.

 

[Polishprince]

If the Biden's Dept of Education doesn't have the balls to collect the money these deadbeats owe, they should just sell the debt to New Jersey shylocks who know how to squeeze people for the money.

 

[jotathought]

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.

MSN

Well .. when there is easy access to college loans, you spend $100K + on stupid, meaningless degrees that produce little to any value .. and then face the piper to collect those dues .. yeah ..

Good luck with your credit worthiness.

 

[multivita-man]

The person with the default loan has to prove undue hardship to claim bankruptcy. The collectors can renew their cases every 10 years. The dilemma. I don't think the taxpayers should be on the hook for their financial situation.

I have mixed feelings about it. I'm basically a believer in an equilibrium between risks and rewards/consequences, but student loan debt is something that our economic system and labor market, along with platitude-speaking politicians, has encouraged for the better part of 2 generations. Most jobs that allow people to enter the middle class have required college degrees.

 

[Vastator]

I have mixed feelings about it. I'm basically a believer in an equilibrium between risks and rewards/consequences, but student loan debt is something that our economic system and labor market, along with platitude-speaking politicians, has encouraged for the better part of 2 generations. Most jobs that allow people to enter the middle class have required college degrees.

Trades pay better, and sooner in the first ten years...

 

[Moonglow]

The OP's title tells me that the OP needs to go back to school. Student loans are not forcing people to repay them now.

 

[multivita-man]

Trades pay better, and sooner in the first ten years...

I think that is increasingly the case, yes.

College for the masses has kind of outlived its utility. Used to be that employers viewed someone with a college degree as more mentally flexible and trainable than someone with less education, but then everyone figured out that the way to get that management job was to get a degree. It lost its value over time. "Elite over-production" to use a term by Russian scholar Peter Turchin.

 

[debbiedowner]

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.

MSN

Bad credit score!

 

[okfine]

I have mixed feelings about it. I'm basically a believer in an equilibrium between risks and rewards/consequences, but student loan debt is something that our economic system and labor market, along with platitude-speaking politicians, has encouraged for the better part of 2 generations. Most jobs that allow people to enter the middle class have required college degrees.

It starts in High School with academic counselors. Here you are girls and boys. 5 types of govt loans with LOW interest. How much do you want/need for that useless degree?

 

[Dont Taz Me Bro]

Well in truth, the government took the money from the taxpayers, and then loaned it out. This wasn't a loan voluntarily given by the actual taxpayers, with consent...

Nothing is.

 

[Toddsterpatriot]

There will be consequences.

If there is any forgiveness, it needs to come from the schools themselves.
Not the taxpayers.
Use the large endowments, not my taxpaying $$$$'s to pay off these loans.

You're making sense. What's wrong?

 

[Winco]

You're making sense. What's wrong?

I always make sense.


But to you, I have to agree with your right wing craziness to be thought of as honest.

 

[bendog]

Well in truth, the government took the money from the taxpayers, and then loaned it out. This wasn't a loan voluntarily given by the actual taxpayers, with consent...

Well the govt never really took the money since we had tax cuts, but the taxpayers in general are "on the hook" for servicing the debt. And Trump cut the ability to work it off at least to some extent.

 

[Lisa558]

Sounds like a personal problem. They will be fending off the bloodsucking collectors forever. Time for bankruptcy.

Bankruptcy won’t save them. They need to honor their financial agreements.

 

[1srelluc]

Yeah, a borrower just not paying back a loan is not the way this has to go. That's not how it works.

I'd like to see participation by employers. Maybe there can be some incentive for them to help. Or maybe have employers sponsor kids, something like that.

But yeah, this starts with the schools.

Sounds good on it's face and has been going on for years at community colleges but let's face it, if you have some worthless degree in the first place that says a lot about the person that went in debt for it....I'd sure not hire them to the point I'd help pay off their debt.