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Posted: 12/18/2023 1:17:16 PM EDT
[#1]
Let them fight.
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Posted: 12/18/2023 1:18:09 PM EDT
[#2]
My wife read an article yesterday that many millennials aren't paying their student loans because they figure even with good credit, homes are unaffordable. So they don't pay the loans and will just take the credit hit.
For them, it's just a numbers game. |
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Posted: 12/18/2023 1:18:50 PM EDT
[#3]
I never touched mine. They paused it for a few years then hit me for a whole $54 last month. Assuming they’ll do the same today or tomorrow.
I’m going broke! I barely paid for 2 lattes this morning! 
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Posted: 12/18/2023 1:19:19 PM EDT
[#4]
Quote HistoryQuoted: Boomers: We need better teachers for out kids True Boomers: Dont go to college and pay for a degree that you won't make any money withTrue Boomers: teachers shouldn't make too much, they only work half the yearWrong, you have no idea what a good teacher does. Boomers: why can't we find any good people to teach  Fixed it for you. What in the world are you saying about the students? Bad teachers and bad parents are a problem. |
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Posted: 12/18/2023 1:22:12 PM EDT
[#5]
Quote HistoryQuoted: Fixed it for you. What in the world are you saying about the students? Bad teachers and bad parents are a problem. Quote HistoryQuoted: Quoted: Boomers: We need better teachers for out kids True Boomers: Dont go to college and pay for a degree that you won't make any money withTrue Boomers: teachers shouldn't make too much, they only work half the yearWrong, you have no idea what a good teacher does. Boomers: why can't we find any good people to teach Fixed it for you. What in the world are you saying about the students? Bad teachers and bad parents are a problem. Find some other way to fund education instead of saddling property owners with taxes to fund a bunch of renter kids that steal your kid's jackets every time they turn around. |
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Posted: 12/18/2023 1:23:07 PM EDT
[#6]
Quote HistoryQuoted: I really wonder what those who dont pay this think the end game is? Do they believe that if they all refuse to pay the gov is just going to forgive the loans? Yes. They think the government will give in. They know Biden will forgive the loans. Just look at the 2022 elections. Between abortion and student loan forgiveness, the democrats kept a lot of seats. I know the Republicans didn’t have the best candidates in some races but abortion and loan forgiveness sure help the democrats. |
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Posted: 12/18/2023 1:23:18 PM EDT
[#7]
Quote HistoryQuoted: I really wonder what those who dont pay this think the end game is? Do they believe that if they all refuse to pay the gov is just going to forgive the loans? That will likely happen in our current clown world. |
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Posted: 12/18/2023 1:25:31 PM EDT
[#8]
I could honestly not care less. So much of our tax money goes to bullshit that it shouldn’t, especially to other countries. The fuck do I care if people default on their federal student loan debts.
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Posted: 12/18/2023 1:27:10 PM EDT
[#9]
I've got two kids in HS.
They're both going to have at least half a dozen options for a full cost of attendance ride if they just maintain their current stats, and that's not even looking at any of the need based schools. I can't imagine that would be possible if they weren't raking in cash from the 3 digit SAT crowd paying full price with borrowed money. College was more affordable when I went 30 years ago but there weren't nearly as many opportunities for merit. Not saying it's good, but I'm sure there's lots of parents on this board. HS students get ridiculously good returns on every increment of effort they put into their studies, way better than they can earn working those hours, unless they're an entrepreneurial genius of some kind. Of course none of that matters if the kid isn't interested or cut out for a useful program. No real surprise people aren't paying if they're all under forbearance. Lots of subsidized loans where you don't have to pay so long as you're enrolled too, wonder how those are accounted for. |
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Posted: 12/18/2023 1:28:59 PM EDT
[#10]
Quote HistoryQuoted: Another financial bubble created by the Boomers and their reckless financial policies that brought us things like the 2008 financial crisis. The U.S. economy as it stands today is not sustainable. We're heading towards absolute societal ruin. Sure it is the Boomers fault. All you eighteen year olds are old enough to drink, own guns, get married, vote etc. you are not old enough to decide on going to college or not going. If you go to college, you can’t work your way through school. Study something that can lead to a good paying job? That is for suckers. |
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Posted: 12/18/2023 1:29:31 PM EDT
[#11]
Quoted: Wonder if they just forgot or didn't get a bill or said "screw you" to the government.
Time to start for losing on their shit; cars, phones, furniture, animals, clothes, TVs, video games, etc. Fuck these freeloading assholes. |
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Posted: 12/18/2023 1:49:07 PM EDT
[#12]
Quote HistoryQuoted: Normally I'm a "Pay your debts and don't be a shithead" kind of guy. But college admissions kind of turned into a meat grinder for kids starting with my generation. We were told by guidance counselors from the time we entered 7th grade that you have to go to college to amount to anything. Doesn't matter what the degree is, just that you need one. You know how many people basically got conned into paying for something that is useless to them? It's absurd. A big chunk of my class entered college for liberal arts or business administration, very few of those kids finshed, but still owed 10's of thousands. Yeah yeah, they signed the paper, but they were told for years that if they didn't then they would grow up to be a loser and be living under a bridge somewhere....fuck the system that pushed so many kids into debt for their own benefit. The people that told them they needed to go should have been telling them that they aren't college material and they need to consider entering the work force immediately so they can build some marketable skills. College admissions should be tough, and picky, and the kids entering should want to be there, not coerced into being there. Then take the money from the colleges. |
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Posted: 12/18/2023 1:50:04 PM EDT
[#13]
Still paying mine. An advanced degree allowed me to more than triple my income, so it was a good investment.
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Posted: 12/18/2023 3:48:58 PM EDT
[#14]
I'm actually kinda shocked and pleased that 60% DID pay, good for them!
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Posted: 12/18/2023 4:02:11 PM EDT
[#15]
Quote HistoryQuoted: Normally I'm a "Pay your debts and don't be a shithead" kind of guy. But college admissions kind of turned into a meat grinder for kids starting with my generation. We were told by guidance counselors from the time we entered 7th grade that you have to go to college to amount to anything. Doesn't matter what the degree is, just that you need one. You know how many people basically got conned into paying for something that is useless to them? It's absurd. A big chunk of my class entered college for liberal arts or business administration, very few of those kids finshed, but still owed 10's of thousands. Yeah yeah, they signed the paper, but they were told for years that if they didn't then they would grow up to be a loser and be living under a bridge somewhere....fuck the system that pushed so many kids into debt for their own benefit. The people that told them they needed to go should have been telling them that they aren't college material and they need to consider entering the work force immediately so they can build some marketable skills. College admissions should be tough, and picky, and the kids entering should want to be there, not coerced into being there. There you go. You're 100% correct and society made you feel like shit if you didn't. |
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Posted: 12/18/2023 4:11:33 PM EDT
[#16]
Quote HistoryQuoted: I also think that the public service loan forgiveness plan is bullshit and the system is set up for low income earners to get their loans paid off which is a bunch of BS. Maybe:        Source: https://studentaid.gov/articles/student-loan-forgiveness/ |
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Posted: 12/18/2023 4:13:30 PM EDT
[#17]
again, all part of the plan.
Jug Ears did this on purpose. Move all the loans to fed.gov (~90%+). Now you can bribe an entire block by "forgiving" their loan or just not caring if they don't pay it back. When democrats are in charge of course. Clown world has accelerated. Joe says "I will forgive your loans, vote democrat!" USSC says "nope, unconstitutional!" Joe does it anyway, backup plan is to tell people "just don't pay them back since we are in charge of the bank you owe the money to." "Vote democrat!" Its the new Tammany Hall. and dumbasses fall for it, and we, the biggest suckers on the planet, pay for it. Let it all burn. |
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Posted: 12/18/2023 4:18:01 PM EDT
[#18]
My two sisters have been scraping by and paying.
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Posted: 12/18/2023 4:25:04 PM EDT
[#19]
Everyone is freaking out but they're going to be forced to pay. It's student loans and they can't be discharged.
Paychecks will be garnished. |
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Posted: 12/19/2023 11:16:30 AM EDT
[#20]
Quote HistoryQuoted: Another financial bubble created by the Boomers and their reckless financial policies that brought us things like the 2008 financial crisis. The U.S. economy as it stands today is not sustainable. We're heading towards absolute societal ruin. You are technically correct. I graduated in 2003....so this was prior to the 2008 financial crisis and sort how the world used to be ever since I was a child, I was always told by literally fucking everyone to go to college get a degree...any degree, you just need a degree...take out student loans because when you graduate you will be getting jobs that are paying well. This was actually true prior to 2008, nearly everyone that was graduating with BS in Finance were finding entry level Analyst positions starting out at $65,000. That's $65,000 full bennies right out of college when tutition at my alma mater was only about $1800 a semester. Well all that fucking went out the god damn window. |
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Posted: 12/19/2023 11:17:07 AM EDT
[#21]
Quote HistoryQuoted: Everyone is freaking out but they're going to be forced to pay. It's student loans and they can't be discharged. Paychecks will be garnished. until they pass a law that says they can be discharged. |
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Posted: 12/19/2023 11:20:22 AM EDT
[#22]
There covid emergency deal just ended.
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Posted: 12/19/2023 11:24:14 AM EDT
[#23]
Quote HistoryQuoted: If enough people say 'no', there isn't much they can do about it. That's a bold move Cotton......not sure it works that way. 
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Posted: 12/19/2023 11:29:08 AM EDT
[#24]
I’ve been paying mine. Fifth one is due the beginning of next month. There goes my 9mm ammo budget
 . I can’t believe what a fucktard I was to take more than what I needed when I was in college. Thankfully, my loan amount is only $16k. |
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Posted: 12/19/2023 11:33:30 AM EDT
[#25]
Quote HistoryQuoted: until they pass a law that says they can be discharged. Do that and the supply of loans dries up because only STEM students will get them, which means universities won't have enough students to support them... which is not necessarily a bad thing. |
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Posted: 12/19/2023 11:37:08 AM EDT
[#26]
There is a year delay on assessing penalties on not paying.
They are accruing interest. https://www.ed.gov/news/press-releases/fact-sheet-president-biden-announces-new-actions-provide-debt-relief-and-support-student-loan-borrowers the Department is instituting a 12-month "on-ramp" to repayment, running from October 1, 2023 to September 30, 2024, so that financially vulnerable borrowers who miss monthly payments during this period are not considered delinquent, reported to credit bureaus, placed in default, or referred to debt collection agencies. |
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Posted: 12/19/2023 11:44:44 AM EDT
[#27]
Quote HistoryQuoted: Normally I'm a "Pay your debts and don't be a shithead" kind of guy. But college admissions kind of turned into a meat grinder for kids starting with my generation. We were told by guidance counselors from the time we entered 7th grade that you have to go to college to amount to anything. Doesn't matter what the degree is, just that you need one. You know how many people basically got conned into paying for something that is useless to them? It's absurd. A big chunk of my class entered college for liberal arts or business administration, very few of those kids finshed, but still owed 10's of thousands. Yeah yeah, they signed the paper, but they were told for years that if they didn't then they would grow up to be a loser and be living under a bridge somewhere....fuck the system that pushed so many kids into debt for their own benefit. The people that told them they needed to go should have been telling them that they aren't college material and they need to consider entering the work force immediately so they can build some marketable skills. College admissions should be tough, and picky, and the kids entering should want to be there, not coerced into being there. Yea its a good thing they never learned to think for themselves,good parenting I guess. You are so full of shit. |
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Posted: 12/19/2023 11:45:07 AM EDT
[#28]
I only have $2950 left to pay on mine. It’s gone in 2024, regardless of what they do wit the Higher Education Act.
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Posted: 12/19/2023 11:45:11 AM EDT
[#29]
Quote HistoryQuoted: This. I wasted so many good years chasing a piece of paper I never wanted, cared about, and ironically, don't even use today. That college degree stopped mattering somewhere in the 80s as best I can tell. Why? |
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Posted: 12/19/2023 11:47:58 AM EDT
[#30]
Quote HistoryQuoted: Well shit man, I'll turn my degree back in today for my money back. I'm sure lots of kids would do the same (and kind of are doing that right now because they one they have is useless to them). Wha,maybe this discussion is totally over your head! Now you can tell us how rich you are and how hot your wife is . |
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Posted: 12/19/2023 11:53:39 AM EDT
[#31]
Quote HistoryQuoted: This. I wasted so many good years chasing a piece of paper I never wanted, cared about, and ironically, don't even use today. That college degree stopped mattering somewhere in the 80s as best I can tell. Quote HistoryQuoted: Quoted: Normally I'm a "Pay your debts and don't be a shithead" kind of guy. But college admissions kind of turned into a meat grinder for kids starting with my generation. We were told by guidance counselors from the time we entered 7th grade that you have to go to college to amount to anything. Doesn't matter what the degree is, just that you need one. You know how many people basically got conned into paying for something that is useless to them? It's absurd. A big chunk of my class entered college for liberal arts or business administration, very few of those kids finshed, but still owed 10's of thousands. Yeah yeah, they signed the paper, but they were told for years that if they didn't then they would grow up to be a loser and be living under a bridge somewhere....fuck the system that pushed so many kids into debt for their own benefit. The people that told them they needed to go should have been telling them that they aren't college material and they need to consider entering the work force immediately so they can build some marketable skills. College admissions should be tough, and picky, and the kids entering should want to be there, not coerced into being there. This. I wasted so many good years chasing a piece of paper I never wanted, cared about, and ironically, don't even use today. That college degree stopped mattering somewhere in the 80s as best I can tell. Ayup. It stopped mattering once it became accessible to everyone with a pulse. |
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Posted: 12/19/2023 11:53:50 AM EDT
[#32]
Quote HistoryQuoted: What year did you graduate high school? I don't think you understand how it was in the late 90's and early 2000's....we were told from everyone older than us that you needed to go to college. I think a lot of parents firmly believed that it was the path to being a successful adult, but when the school is telling you the same then you start to think "Jeez, maybe I should go to college so I'm not a loser". I think you are lucky to be able to dress yourself. |
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Posted: 12/19/2023 11:55:10 AM EDT
[#33]
Quote HistoryQuoted: The military industrial complex has nothing on the Government-University complex. One certainly plays into the other. |
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Posted: 12/19/2023 11:58:54 AM EDT
[#34]
Quote HistoryQuoted: I just hope both teams have fun. Same. |
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Posted: 12/19/2023 12:02:14 PM EDT
[#35]
Quote HistoryQuoted: Taxpayers cannot be placed on the hook for the poor decisions of themselves and their parents. That's exactly what the welfare state we live in does, especially when our country is ran on deficit spending. |
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Posted: 12/19/2023 12:04:58 PM EDT
[#36]
I just hope this all collapses before my kids graduate high school and tuition is pennies on the dollar in 4 years. (They are both planning on STEM careers.)
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Posted: 12/19/2023 12:35:15 PM EDT
[#37]
Quote HistoryQuoted: What year did you graduate high school? I don't think you understand how it was in the late 90's and early 2000's....we were told from everyone older than us that you needed to go to college. I think a lot of parents firmly believed that it was the path to being a successful adult, but when the school is telling you the same then you start to think "Jeez, maybe I should go to college so I'm not a loser". I also graduated in the early 2000's from a small high school and everyone absolutely pushed this narrative. I wanted to do the high school trade schools thing but was not special needs so nope. I got my degree, parents helped me along the way, graduated, got a full-time job kind of in my field but in reality, the degree meant nothing and was not needed. Wife and I scraped by for years living in small apartments driving old vehicles focusing on paying our student debt which we did. Is what it is. I have moved on. |
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Posted: 12/19/2023 12:48:46 PM EDT
[#38]
A loan forgiveness deal would benefit individual Americans the most, so it won’t happen.
A loan forgiveness deal would limit the revenue of the universities so another reason it won’t happen. Borrowers refusing to pay will just screw themselves. |
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Posted: 12/19/2023 12:55:32 PM EDT
[#39]
All of the colleges want Marxism, so give it to them. Seize all of their assets to pay what their little comrades can't. Fuck the colleges.
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Posted: 12/19/2023 1:00:21 PM EDT
[#40]
What are they going to do, repossess their degree?
They didn’t have to pay for years. Now, everything costs remarkably more yet most salaries haven’t went up to reflect that. Who would have guessed that they wouldn’t pay it now. |
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Posted: 12/19/2023 1:35:44 PM EDT
[#41]
Quote HistoryQuoted: What are they going to do, repossess their degree? They didn’t have to pay for years. Now, everything costs remarkably more yet most salaries haven’t went up to reflect that. Who would have guessed that they wouldn’t pay it now. I just love how they were charging up to 8% interest while they manipulate the rate to nothing. |
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Posted: 12/19/2023 2:49:40 PM EDT
[#42]
Early 2000's high school grad. Now an MD, paid off my undergrad already and most of my MD. I guess I'm still a worthless millennial freeloader though
I don't think the "pay up freeloaders" folks understand how expensive college can be, particularly for out of state students who don't have a scholarship. Also, when I was in school every teacher, guidance counselor, and most parents strongly pushed college and threatened us that we'd spend the rest of our lives in fast food. If conservatives were smart they'd go towards making college debt dischargeable in bankruptcy. It would strongly discourage lenders re making big loans for worthless degrees. But they instead keep wanting to feed the educrat bureaucracy. |
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Posted: 12/19/2023 3:18:21 PM EDT
[#43]
Good. Kids were groomed by boomers to attend college. A 18 year old out of high school has no life experience and the financial impact of taking on such a massive loan. Most don't have jobs or pay rent so have no idea the burden of paying the equivalent of a new car for an education.
Scummy system and will likely help Democrats with another win in 2024. |
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Posted: 12/19/2023 3:31:24 PM EDT
[#44]
Quote HistoryQuoted: Normally I'm a "Pay your debts and don't be a shithead" kind of guy. But college admissions kind of turned into a meat grinder for kids starting with my generation. We were told by guidance counselors from the time we entered 7th grade that you have to go to college to amount to anything. Doesn't matter what the degree is, just that you need one. You know how many people basically got conned into paying for something that is useless to them? It's absurd. A big chunk of my class entered college for liberal arts or business administration, very few of those kids finshed, but still owed 10's of thousands. Yeah yeah, they signed the paper, but they were told for years that if they didn't then they would grow up to be a loser and be living under a bridge somewhere....fuck the system that pushed so many kids into debt for their own benefit. The people that told them they needed to go should have been telling them that they aren't college material and they need to consider entering the work force immediately so they can build some marketable skills. College admissions should be tough, and picky, and the kids entering should want to be there, not coerced into being there. High School has failed so many. I think colleges should pay for the student loans for giving degrees in underwater basket weaving that everyone and their brother and sister knew in the real world the degree paid squat. Me as mr taxpayer is tired of paying for other people's failures.... High School should have a "learn what it means to be an adult" class, my dad taught me this stuff. Parents today don't get it, always want to celebrate the good times and never remind people of the failures when bad choices are made. Its okay if things keep going the way they are for the military they will get plenty of adulting right out of HS and forced into the mil due to the decrease in recruiting and other factors. |
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Posted: 12/19/2023 3:32:53 PM EDT
[#45]
Quote HistoryQuoted: My loans were put into forbearance until 2040 . I have no payment due. PLSF is pending, as well as a Borrower Defense Claim. The school I got my associates from was shut down by the FEDs, and I missed the complete forgiveness of my loans by three months. I pay all of my bills and have been putting what should have been my monthly payment into other debits. Soon, it will be going into savings. I will be ready and willing to pay if my loan payments start back up. However, paying loans makes no sense when the payments will not count towards my PSLF.Congrats. You're officially a FSA shitbag. Enjoy freeloading off my taxes. |
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Posted: 12/19/2023 3:34:27 PM EDT
[#46]
Quote HistoryQuoted: Good. Kids were groomed by boomers to attend college. A 18 year old out of high school has no life experience and the financial impact of taking on such a massive loan. Most don't have jobs or pay rent so have no idea the burden of paying the equivalent of a new car for an education. Scummy system and will likely help Democrats with another win in 2024. Quote HistoryQuoted: Good. Kids were groomed by boomers to attend college. A 18 year old out of high school has no life experience and the financial impact of taking on such a massive loan. Most don't have jobs or pay rent so have no idea the burden of paying the equivalent of a new car for an education. Scummy system and will likely help Democrats with another win in 2024. As consumers try to celebrate Christmas in Biden’s economy, polling shows a plurality of Americans believe former President Donald Trump’s economic policies benefited them, a Wall Street Journal poll recently found: Forty-nine percent of voters said Trump’s policies personally benefited them. Only 23 percent said the same for Biden’s policies. |
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Posted: 12/19/2023 3:45:22 PM EDT
[#47]
The obvious answer is that they died .
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Posted: 12/19/2023 3:51:10 PM EDT
[#48]
Quote HistoryQuoted: Early 2000's high school grad. Now an MD, paid off my undergrad already and most of my MD. I guess I'm still a worthless millennial freeloader though I don't think the "pay up freeloaders" folks understand how expensive college can be, particularly for out of state students who don't have a scholarship. Also, when I was in school every teacher, guidance counselor, and most parents strongly pushed college and threatened us that we'd spend the rest of our lives in fast food. If conservatives were smart they'd go towards making college debt dischargeable in bankruptcy. It would strongly discourage lenders re making big loans for worthless degrees. But they instead keep wanting to feed the educrat bureaucracy. Exactly your last paragraph. It's malinvestment, exactly what we have the bankruptcy system for. Adjust the clawback rules so that Universities can sit in the workout room too, and let Uncle Sam, Lenders, Universities, and Debtors have a free-for-all about who needs to pay what. The second-order effects would cripple the Academy, which is a bonus for people like us. You'd have to get .Gov out of the business of making new loans, of course. This would be an efficient way of clearing out bad debt and equitably ensuring all parties could get past this as quickly and reasonably as possible. Plus crippling institutions and programs dedicated to the destruction of Western Civilization. So naturally it will never be done. |
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Posted: 12/19/2023 3:51:32 PM EDT
[#49]
They are hoping that the US taxpayer will pay for it.
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Posted: 12/19/2023 3:53:01 PM EDT
[#50]
Quote HistoryQuoted: Great way for the feds to pair down who they will have to pay SS benefits to in the future. Yes they will means test the productive to pay for the slackers and then blame the boomers. |
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