• Makeitstop@lemmy.world
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    6 days ago

    I really hate how many people resent the idea of any kind of student loan forgiveness.

    Billionaires set up vast financial systems for the sole purpose of dodging taxes. No bid contracts get handed out like candy to politically connected scumbags. An obscene amount of money gets dumped into insurance companies that only make your healthcare worse. Giant corporations violate laws and rob both workers and customers, and if anything is done at all it will be a tiny fine that’s smaller than the profit from their crimes.

    All those things that actually harm the rest of us? No big deal. But you suggest that maybe it’s a bad idea to keep generations ensnared in crippling debt? THAT’S A FUCKING OUTRAGE!

    I mean obviously it wouldn’t be fair to have a policy that directly benefits some people but not others. Why should student loan borrowers get special treatment? Sure, I’ll fucking riot if anyone touches my tax credits for having kids and a mortgage, but that’s different, that’s good for society… unlike education. Besides, it’s not my fault your generation don’t buy houses and start families. Oh don’t removed to me about how you can’t afford it, maybe you shouldn’t have taken those loans out then…

  • BarneyPiccolo@lemmy.today
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    6 days ago

    The Student Loan Crisis is a growing national security threat, and it’s getting worse, and NOBODY is talking about it from that perspective.

    The current cost of a college education is the result of ruthless predatory practices by both colleges and loan companies. When the Federal Government made it easier for students to get loans, allowing more young Americans to get college degrees and get a better start in life, colleges exploited the opportunity by jacking their prices up, knowing that kids could get these enormous loans, with exorbitant interest rates, without the financial life experience to understand the onerous burden it would place upon their ENTIRE lives.

    Now we have young people delaying the most fundamental stages in life, because they simply can’t afford it. People are not getting married, because they either don’t want to combine two large student loan debt loads, or they don’t want to take on a new spouse’s debt when they don’t have debt themselves.

    And if people aren’t getting married, they aren’t buying houses, furniture, cars, having babies, vacations, etc., all fundamental drivers of the economy. Many aren’t even moving out of the family home they grew up in, not only because they can’t afford it, but because the economy on general is so bad that their family can’t afford to lose another household income, so they’re happy to keep them at home.

    This is already a crisis, and it grows larger every year, with each graduating class. How long before the steadily rising problem reaches critical mass, and crashes the entire economy? Because that’s the easily predicted outcome of this current strategy to ignore the growing crisis, and deliberately making it infinitely worse.

    • IronBird@lemmy.world
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      5 days ago

      the animals running things now want to crash the economy, every move they make is designed to stress consumers and/or targeted industries for their blatant stock/futures market manipulation…when it finally crashes the top 1% get a lot of distressed assets to buy up on the cheap.

      we’ve done this same cycle now a dozen times over, every single time it’s been a deliberate move by those in power to fuck over as many people as possible.

      animals run things into ground, slightly less evil animals patch holes but as much as possible to allow for sustainable ratfucking, repeat. occasionally throw in a pointless war to distract the plebs, if it looks like they’re getting class conscious.

    • Omgpwnies@lemmy.world
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      5 days ago

      I used the second career program in Ontario to go to college, which paid 100% of a 2-year diploma including books, fees, etc as well as a living stipend. It was about $30k per year, and I paid out of pocket to upgrade to a 3 year diploma. I paid that back in income tax within 5 years, and now pay more in income taxes each year than I got in assistance.

      I think it was money well spent.

  • andrewta@lemmy.world
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    6 days ago

    I’m sorry but I saw this coming when repayment was paused and then a ton of people said “I’m just never going to pay, what are they going to do?”

    Obviously they will garnish wages. It’s like saying the sky is blue. No shit Sherlock.

    Keep paying until you have a note in hand saying there is no debt (either until you’ve paid or the government has said the debt is 100% forgiven) . Just because one administration says we are working to take care of your debt means nothing. The next administration might reverse that. So keep paying until you have a legal document in hand saying the debt is forgiven/has fully been payed.

      • andrewta@lemmy.world
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        4 days ago

        So you’re saying it’s better to not pay then find out the government is going back on what they said they’d do and now your wages are garnished?

        No it’s better to pay or at a minimum put the money into a bank account and at least have the money ready to pay if the the shit hits the fan , at least you can pay if needed.

        • BarneyPiccolo@lemmy.today
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          5 days ago

          They aren’t paying because they don’t have the money, because the economy is terrible, and the jobs they were promised after going deep into debt for their education turned out to not exist, or are being replaced by AI. They don’t have the money to put into a bank account to pay later.

          You’re lucky you can afford options for payment so that you can fantasize about alternatives. Most who aren’t paying don’t have options or alternatives, they just simply don’t have the money. Your solution amounts to “let them eat cake.”

          • andrewta@lemmy.world
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            4 days ago

            Except for I remember back when the student loans repayments were paused, I remember multiple people openly saying I’m just not going to pay anymore. Not I can’t afford to pay, but rather they just weren’t going to pay. There’s a huge difference.

            • BarneyPiccolo@lemmy.today
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              4 days ago

              “I remember multiple people…”

              Your anecdotal evidence is not evidence of a nationwide trend, unless you just want to demonize an entire segment of people for willfully avoiding their financial obligations, instead of acknowledging that they simply can’t afford it in an economy that has been deliberately configured to make it impossible for them to succeed.

    • IronBird@lemmy.world
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      5 days ago

      just pay the absolute legal minimun (like…50-100$/month, iirc?), then when/if a sane government comes in wanting an easy W they’ll write off all those not completely ignoring payment.

      • andrewta@lemmy.world
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        5 days ago

        That’s another option. But it a bare minimum at least put the money away into a bank account they should be paying. That way if you get an insane government coming in and saying pay it all at least you can. But straight not paying and also not put the money away is insane.