5 million people are in default right now. The Dept of Ed estimates as many as 10 million by end of next year because of job market.

https://i.redd.it/dxby4takhz8g1.jpeg

by Conscious-Quarter423

22 comments

  2. ![gif](giphy|7Wiozceem6Vt2eMFxO)

    BEST ECONOMY EVER!!! /s

  3. Why aren’t the plebs desperate enough to do stuff that justifies taking away their legal rights? Why aren’t the people who took on risk and debt to go to school, acting fucking stupid? Smells like witchcraft, or terrorism, or mostly likely terrorist witches.

  4. Can someone ELI5 why so many young people take out ridiculous loans for degrees that don’t have strong earnings potential to begin with?

    I know it’s a typical right wing cliche to hide behind the “200k gender studies degree” argument – but this really isn’t an exaggeration. Plenty of GenZ and millennial students seemed to just flat out ignore the fact that there would be serious repayment issues for their six figure political science/english/ philosophy etc degree, instead of just attending a state school.

    Why shouldn’t these people face the consequences for there actions? Sure education is far too expensive…BUT literally all of them had a cheaper option and flat out refused or ignored it.

    Edit: a lot of bleeding hearts mad that I’m going against the narrative here – lots of downvotes but no counter arguments lmao

    Edit2: no I’m not picking on Arts degrees – it’s just a straw man Republicans like to hide behind. This logic applies to STEM majors as well.

  6. Cheeto’s plan is to make sure everyone is bankrupt like him.

  7. He wants kids in the military to use them to get more land and oil. This is the playbook.

  8. So..maybeStart with less than 5% might make sense, but 10-25% is executioner style. It’s not reasonable or decent, and it’s encouraging infighting today instead of unity. So fuck your posts today. I’ll call these The Executioner. And it’s fake news in a sense, because it’s hateful and not helpful. Title should read: millions of Americans need help getting on track. Millions of Americans want to participate in your game, and feel they are only a small whipping post part of it. Get real on pay backs. We were making progress, but this is a move based on forcing folks to pay an amount They decide, based on interest rates they control, and based on loans to provide jobs that just didn’t exist. What new? I got banned from student loans for speaking my truth. So let them invent one for us. Life in 2025. So We have tools to communicate, and provide actionable data rel time to our reps, and mods have a cancel button. Wow what dicussion

  12. He’s trying to fill up our prisons for free labor when people start losing homes

  13. Sad news. Social support systems are being taken away or not funded. In many cities, it’s illegal to sleep in your car. Perfect storm for mass suicides.

  15. This is good for everyone. We need a cultural correction on college.

    Too many people get little to no value out of it. A lot of people should be discouraged from going. It would better their lives if they never fell for the trap.

  16. Maybe they should’ve learned productive skills in demand instead of going into debt for a Bachelors Degree in University Studies. So many companies now are refunding higher education tuition and professional courses. I never understood how HS graduates are so naive to take on 5/6-digit debt for a “BS degree”.

  17. It’s called administrative wage garnishment. And it isn’t new . It was just paused bc of covid

    Welcome to adulthood

  18. I’m listed as in default right now, yet I also am listed as having a $0 payment.

    I reached out and they said they’ll get back to me within 15 business days.

  19. I believe that most of these defaulted borrows wouldn’t pay the loans back if they won the lottery last night.

  20. Oh I’m sorry? Your fingers hurt? Well now your back is going to hurt because I’m taking whatever money you have left

  21. This speaks to a deeper problem that needs correcting. Student loans are out of control.

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