involuntary collections of student loans

[Anonymous]

Education Department’s will resume “involuntary collections” of federal student loans that are in default.

https://www.cnbc.com/2025/04/22/what-student-loan-borrowers-need-to-know-about-involuntary-collections.html

[Anonymous]

Good.

https://www.wsj.com/opinion/accountability-returns-to-student-loans-forgiveness-borrower-debt-payment-9508da8d?st=x7nf7y&reflink=desktopwebshare_permalink

[Anonymous]

We are headed back to debtors prison when they deduct it from your pay and people end up on the street.

[Anonymous]

Anonymous wrote:We are headed back to debtors prison when they deduct it from your pay and people end up on the street.

And so your solution is for the taxpayers to pick up the tab for other people's degrees? Sorry, no.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are headed back to debtors prison when they deduct it from your pay and people end up on the street.

And so your solution is for the taxpayers to pick up the tab for other people's degrees? Sorry, no.

Have the banks we bailed out pay US back or the auto industry. Please “pick up tab” for 19 year olds who will go buy a house not crash the economy.

[Anonymous]

Anonymous wrote:Good.

https://www.wsj.com/opinion/accountability-returns-to-student-loans-forgiveness-borrower-debt-payment-9508da8d?st=x7nf7y&reflink=desktopwebshare_permalink

Putting aside the human impact (do ypu care about humans?) - let’s focus on the execution of the plan: 9 million people are in arrears and headed to default. Thats a pretty sizable drag on the economy. Added to federal layoffs. Halt in research funding (which has ripple effects for private sector jobs). All at the same time.

Plus of course market uncertainty with tariffs on / off and firing Powell.

Trump’s economy looking real good!

[Anonymous]

If you take out a loan you need to repay it. It’s that simple.

No more Starbucks. Forget about upgrading your iPhone. Door Dash isn’t a necessity. Vacations are for people that actually save money and aren’t deep in debt. It’s time for a second or third job. You can no longer afford all of your streaming services. Discretionary things like drinks with friends aren’t in the budget. Life is hard when you fail to manage your finances.

[Anonymous]

This is going to be a huge boon to Democrats. Everyone struggling with student loans will be so thrilled when Republicans pass tax cuts for the rich.

[Anonymous]

Anonymous wrote:We are headed back to debtors prison when they deduct it from your pay and people end up on the street.

Income based repayment plans are universally available and have been common for years in the student loan world. If a young professional makes 40k annually and therefore the $1,500 monthly installment payment on their 200k student loan balance isn't affordable, all they have to do is contact the loan servicer and document the need for a modified income based minimum payment.

Canceling debt is never a wise long term solution. Ii

[Anonymous]

Physicians will be totally screwed. They take years before they are making the kind of money that can service the loans required to complete training.

[Anonymous]

I guess the women can do what Karoline did and marry a guy 35 years older with money.

[Anonymous]

Anonymous wrote:We are headed back to debtors prison when they deduct it from your pay and people end up on the street.

They go into your bank account and empty it. I've seen that happen to someone.

[Anonymous]

Good thing that the Trump admin is addressing the rising cost of higher ed at the same time. /s

[Anonymous]

Anonymous wrote:

Anonymous wrote:Good.

https://www.wsj.com/opinion/accountability-returns-to-student-loans-forgiveness-borrower-debt-payment-9508da8d?st=x7nf7y&reflink=desktopwebshare_permalink

Putting aside the human impact (do ypu care about humans?) - let’s focus on the execution of the plan: 9 million people are in arrears and headed to default. Thats a pretty sizable drag on the economy. Added to federal layoffs. Halt in research funding (which has ripple effects for private sector jobs). All at the same time.

Plus of course market uncertainty with tariffs on / off and firing Powell.

Trump’s economy looking real good!

Rewarding people for doing nothing is not how the economy gets moving. The job market has been at 4% for the last 3 years. Before that money was printed, handed out, and rained on everyone.

This people got a 0% interest loan for 4 years when inflation was 25% over that period. In effect, 25% of their loan was forgiven plus the interest they should have accrued. They've gotten a great deal. They should've prepared for this better. Now, it's time to pay the pied piper.

[Anonymous]

Anonymous wrote:Good thing that the Trump admin is addressing the rising cost of higher ed at the same time. /s

Haha...you know that's a priority for a guy who has said "I love the poorly-educated!"