Student loans in default to be referred to debt collection, Education Department says

[The Sage of Main Street]

No one is forced to borrow money in the United States.

We Don't Owe a Living to Those Who Own the World

It has the effect of force if you're not going to get a job your talent entitles you to unless you pay for it.

If you have too much self-respect to pay for it, you are forced out.

If you have so little self-respect that you submit to businessmen's demands, you probably don't have any talent to respect yourself for.

It is confirmation bias to not even question this way of doing things.

You assume that those who are going to get rewarded have to be punished first. You are a masochist if you submit to this, and you are a sadist if you demand that others do the same.

 

[The Sage of Main Street]

What are you talking about? Debt is made by spending money, not printing it.

Blaming the Swindled

Constructive and temporary debt is from an investment that eventually more than pays for itself. Obviously, college students were being lied to about that guaranteed benefit from going to the Eweniversity. So whoever wrote the misleading advertising bombarding them with "To Get a Good Job,
Get a Good Education" is liable for these defaults.

 

[Orangecat]

We Don't Owe a Living to Those Who Own the World

It has the effect of force if you're not going to get a job your talent entitles you to unless you pay for it.

If you have too much self-respect to pay for it, you are forced out.

If you have so little self-respect that you submit to businessmen's demands, you probably don't have any talent to respect yourself for.

It is confirmation bias to not even question this way of doing things.

You assume that those who are going to get rewarded have to be punished first. You are a masochist if you submit to this, and you are a sadist if you demand that others do the same.

No one is owed a job, regardless of their talent levels. Create your own job if your talent justifies a market response.

 

[citygator]

Blaming the Swindled

Constructive and temporary debt is from an investment that eventually more than pays for itself. Obviously, college students were being lied to about that guaranteed benefit from going to the Eweniversity. So whoever wrote the misleading advertising bombarding them with "To Get a Good Job,
Get a Good Education" is liable for these defaults.

For-profit university students borrow federal loans and account for 50% of all student loan defaults. Students who attend for-profit colleges are three times more likely to default on student loans, and six times less likely to receive employment after enrollment, according to a 2018 NBER working paper.

You want to do real God's work? Ban for-profit U's from receiving money. You know who wont do that? Republicans. Trump ROLLED BACK regulations on them.

Your ire is misplaced. It should be on the swindlers at for-profits, not regular hardship students.

In working to loosen proprietary-college regulation, contemporary politicians break decades of GOP precedent

 

[The Sage of Main Street]

Your debt is SPENT money… DOGE “We will cut $2 Trillion, $1 Trillion, $150B, that is about $50B riddled with double counting and cuts made under Biden and $90B of we don’t know yet while the deficit is trillions. LOL

Typical Diploma-Dumbocracy

College-level illogical. The bucket is filled by drops. Adding up all the small cuts that were denied because of their size will more than balance the budget.

 

[The Sage of Main Street]

ove. That’s why you are leaving $30T of taxes not paid when you die.

Plutelickers Are Afraid of Ghosts

Everybody not blocked by brainwashing knows that there is no right to inheritance and that it destroys civilizations. We could eliminate the debt by confiscating dead people's money.

 

[The Sage of Main Street]

No one is owed a job, regardless of their talent levels.

Those Who Are Jealous of Talent Deserve Shoddy Products

The economy depends on motivating the fittest for the jobs. Those who control the economy only wanted the most slavish. except for their brats' birth-class.

You want, "If you're so smart, why haven't you made the rich richer?"

The insulted ought to come together and say, "If we're so smart, why haven't we made the rich poorer?"

Plutelickers beware if real men take over MENSA.

 

[Orangecat]

Those Who Are Jealous of Talent Deserve Shoddy Products

The economy depends on motivating the fittest for the jobs. Those who control the economy only wanted the most slavish. except for their brats' birth-class.

You want, "If you're so smart, why haven't you made the rich richer?"

The insulted ought to come together and say, "If we're so smart, why haven't we made the rich poorer?"

Plutelickers beware if real men take over MENSA.

Too much philosophy/poetry, too little fact. No offense intended.

 

[DGS49]

Federal Student Loans 'Must Be Paid Back': Education Department Makes Big Announcement About Collections

townhall.com

The core of Leftism is absolution from responsibility - unless you are a Conservative. Biden was not too incompetent to fuck up most of the Federal government, which was clearly his intention.

Most of this money, I understand, was borrowed for advanced degrees. Repayment was paused for COVID???

Is Covid over yet?

Do mortgage lenders lend money to student loan defaulters?

 

[OhPleaseJustQuit]

Federal Student Loans 'Must Be Paid Back': Education Department Makes Big Announcement About Collections

townhall.com

The core of Leftism is absolution from responsibility - unless you are a Conservative. Biden was not too incompetent to fuck up most of the Federal government, which was clearly his intention.

Most of this money, I understand, was borrowed for advanced degrees. Repayment was paused for COVID???

Is Covid over yet?

Do mortgage lenders lend money to student loan defaulters?

.

Well, that ought to get their knickers in a twist for some good old fashioned summertime riots -- er......um...... protests.

Gonna be fun!


.

 

[Toddsterpatriot]

Federal Student Loans 'Must Be Paid Back': Education Department Makes Big Announcement About Collections

townhall.com

The core of Leftism is absolution from responsibility - unless you are a Conservative. Biden was not too incompetent to fuck up most of the Federal government, which was clearly his intention.

Most of this money, I understand, was borrowed for advanced degrees. Repayment was paused for COVID???

Is Covid over yet?

Do mortgage lenders lend money to student loan defaulters?

The graduates too dumb to get jobs good enough to pay back their loans were
also too dumb to understand they still have to pay them back.

 

[1srelluc]

Dupe

Thread 'Student loans in default to be referred to debt collection, Education Department says'

Tuesday at 11:35 AM

Student loans in default to be referred to debt collection, Education Department says - WTOP News

The Education Department will begin collection next month on student loans that are in default, including the garnishing of wages for potentially millions of borrowers, officials said Monday.

wtop.com

U.S. Department of Education to Begin Federal Student Loan Collections, Other Actions to Help Borrowers Get Back into Repayment

The U.S. Department of Education announced its Office of Federal Student Aid (FSA) will resume collections of its defaulted federal student loan portfolio on Monday, May 5th. The Department has not collected on defaulted loans since March 2020.

www.ed.gov

WASHINGTON (AP) — The Education Department will begin collection next month on student loans that are in default, including the garnishing of wages for potentially millions of borrowers, officials said Monday.

Currently, roughly 5.3 million borrowers are in default on their federal student...

• 1srelluc
• Replies: 88
• Forum: Education

• 

 

[Toddsterpatriot]

There is no such thing as overspending, only underpaying.

Tell that to the student loan deadbeats.

 

[Zincwarrior]

Every other first world nation pays for higher education. We are the same as Pakistan.

 

[Freedomisneverfree]

Coolness!

 

[Toddsterpatriot]

Every other first world nation pays for higher education. We are the same as Pakistan.

Every other first world nation pays for higher education.

With no limit? Can everyone go?

 

[Captain Caveman]

By your definition you OVERSPENT for your car since you went into debt for it. Starting to get it? Debt isn’t overspending, it is spending what you plan but not paying for it. My last 4 cars were all paid for in cash. Debt isn’t overspending, it’s not paying up front for something. Just like I said a few posts above. That’s why you are leaving $30T of taxes not paid when you die.

My friend is an ex-banker manager and he would disagree with you. You should use debt, as long as you can service it, and not use your capital. He has more money than sense and when it came to a new boiler, he bought one on interest free finance through British Gas. So he keeps his capital in the bank, his private pension and policies income covers the payments.

Be it student loan, car loan, mortgage etc .. anyone who takes a loan out should repay it. Circumstances change, such as redundancy, so if that happens they immediately should get in touch with their loan provider.

 

[citygator]

My friend is an ex-banker manager and he would disagree with you. You should use debt, as long as you can service it, and not use your capital. He has more money than sense and when it came to a new boiler, he bought one on interest free finance through British Gas. So he keeps his capital in the bank, his private pension and policies income covers the payments.

He's not wrong. I dont think zero debt is the way to go unless you are in a special circumstance around income uncertainty. I have a 2.5% mortgage that is tax deductible I could pay off but why bother? Its free money - Im paying 1.5% on it after taxes. I paid cash for my other place because the rate was 7% plus when I bought it which is a good thing since it has held its value better than the market. Sadly.

 

[citygator]

REMINDER

 

[citygator]

OhPleaseJustQuit

LOL.. .fake news when I posted the actual order from Trump. He was a fake president so you might have a point.