Reply to Anyone plan on not paying back student loans?

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[quote=Anonymous][quote=Anonymous]OP, your friend is lying. Anyone making the minimum payment "every other month" on their federal loans is getting their wages garnished.

Outside of the pandemic pause, there's no just not paying federal loans and getting away with it. You can go into forbearance for a time but interest will still accrue.[/quote]

Yeah, no. I didn't pay for like over a year right after I graduated college because I couldn't find a real job and didn't understand forbearance. I just totally ignored them.

It took at least 18 months before they started contacting me about how if I didn't set up a payment plan, they'd garnish my wages. I was like good luck, bud. My check from my shitty ass waiter job is like $3.50 most weeks.

I made auto payments of $100 for 12 months and they left me alone. Then the lady sent me info on how to apply for an income-driven payment plan. I did that for a few years after I finally got a real job making decent money.

Then my company outsourced my department and I was out of work. I stopped paying again without contacting them and the loans went into collection. Best thing that ever happened!

I now pay $25/month and I don't care if those asshats ever get all their money.

I was sold a false promise, IMO. Go to college = you get a good job. Yeah, except the economy tanked right when I graduated and all I could find were jobs working in restaurants with people who used to have big jobs before the economy tanked. I applied for every job I could find in my degree field and got rejection after rejection. "Budget cuts, sorry, we'll keep you on file."

I am not unique, either. I have several friends who graduated the same year I did who are in the same boat. Their $20k loans are now in the $40k range and they simply don't care. Minimum payments only and payments are skipped when the money is needed for other things. [/quote]

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