7mo ago

Trump Admin Will Garnish Struggling Borrowers' Wages as Student Loan Payments Resume

www.commondreams.org

Trump Admin Will Garnish Struggling Borrowers' Wages as Student Loan Payments Resume | Common Dreams

Politics @sh.itjust.works

pelespirit @sh.itjust.works

7mo ago

Republicans and Trump Admin Will Garnish Struggling Borrowers' Wages as Student Loan Payments Resume

www.commondreams.org /news/student-loan-repayment

A Boring Dystopia @lemmy.world

return2ozma @lemmy.world

7mo ago

Trump Admin Will Garnish Struggling Borrowers' Wages as Student Loan Payments Resume

www.commondreams.org /news/student-loan-repayment

38 comments

there could be almost 10 million borrowers in default in a few months
That's not a small amount. That's fucking with economic outlook levels.
As for their program to "guide" folks to repayment, I mean you might as well tell them that they're indentured servants at this point. Bully tactics are not going to work in an economy where it does not matter how much or little credit you have.
And I highly doubt this administration has any kinds of plans to gentle get folks back to repayment. I fully expect, "pay your loans or we will make you a slave for the rest of your life" to be their go to solution.
There's a correct manner to handle this, I expect Trump's administration to fuck it up every step of the way.
- There's a correct manner to handle this
  🔥🔱?
  
  Can't use a trident, that's lord Neptune's weapon and directly incompatible with fire.
- Think deportation could be on the table? Default on your loan and off to El Salvador? There's no telling with these assholes
  
  Calling it now: Debtor’s prisons are going to be the “next big thing” from private incarceration companies.
  
  I don't think so, at least when it comes to US citizens, because deportations would cost them and spark controversy for no benefit. I think they'd prefer to keep these deeply indebted people in the US as indentured servants willing to work for pennies and too poor to engage politically.
  
  I mean, to keep morale in check maybe? But why would you kill off your own slaves? That's like burning your own car.
"The beatings will continue until morale improves" energy.
"Why aren't young people having more kids??!!!"
- If the wimminz had just got knocked up by the end of high school or just after and they then get married to the baby daddy, they wouldn't have to worry about things like school! They should all be trad wives anyway.....
"to protect taxpayers from shouldering the cost of federal student loans"
What fucking costs are the taxpayers shouldering from student loans???
- Ironically, forgiving the debt would generate immediate economic activity that the government would tax and collect that money back with far greater returns.
  Every dollar in food stamps generated $1.70 in economic activity and that's just for "normal" poor people.
  The problem isn't (just) the cost of education being insane but that wages aren't increasing to cover the bigger numbers.
  The problem is that it's becoming harder to hide the entire country is a "company town" or African diamond mine where keeping you trapped in debt you'll never escape is the goal and it's perfectly legal because they own the laws.
  I have been with my employer for a decade. My nominal wage has increased 50% but once you account for inflation I'm still basically at my starting wage even after a decade of promotions and certifications.
Many qons have been trained to think that going to college is a bad thing and that those that went are bad people.
I wish I was kidding. This is red meat to those types of people. Ironically, they were instructed in this kind of nonsense by thought leaders that almost all....went to college.
- This makes me think about all the Charlie Kirk shorts that were flooding my YouTube feed during the elections…
  
  Is that because he didn't go to college or because he was pushing some anti-education nonsense?
Well, they're about to find out what happens when you corner animals...
- The animals self-harm and then post about it on Instagram?
  
  Many of them will cackle about "owning the libs" and vote even harder for Republicans even if they are now having to live out of a tent.
If they start doing things like this, and Debtor's Prisons (only a matter of time), then it will be officially the time to shift from a Trickle Down Economy, to a Robin Hood Economy (take from the rich, give to the poor).
Steal anything that isnt nailed down, as long as it comes from a rich person or corporation. Hands off of middle/working class folks, and small businesses.
Unless they're MAGA. Then strip them bare.
Oh look, another thing to actively discourage America teens from receiving a higher education.

38 comments