They're really desperate to get out of paying even a penny

People that couldn't resist the college psyop in public school deserve the debt. Tip the jar and make them dance.

The only issue I really have with this is not being able to discharge student debt in bankruptcy. To me that's ridiculous and inexcusable. In the USA people are not supposed to be permanently ruined or forced into poverty because they can't service their debt. Just look at our president, how many times did he declare bankruptcy? We should not be privileging this one specific class of creditor when it's harming millions of people. Let them declare bankruptcy and have fucked credit for years like anyone else.

My loans, not that much, from the 2000s, apparently got transferred among so many servicers that they lost the original paperwork. Even the department of education can't even produce the master promissory note. I (a lawyer) asked the department to substantiate the loan (and the shady consolidation agreement, which made the interest higher) and after months the department replied saying that I agreed to it all over the phone, that's why the signature on the consolidation agreement is not my handwriting... I asked for evidence of said phone call, and never heard from them again.

I think this was the whole point of college. The Rockefeller foundation subverted the department of education decades ago and their goal is to destroy the white middle class.

So without any notice your interest rates were increased? Is that normal? I thought they were a fixed amount

Imagine becoming a debt slave for a shitty education and liberal brainwashing when you can learn things for free.

Saylor Academy is a nonprofit initiative working since 2008 to offer free and open online courses to all who want to learn. We offer nearly 100 full-length courses at the college and professional levels, each built by subject matter experts. All courses are available to complete — at your pace, on your schedule, and free of cost

From what I recall, the consolidation company took two loans of $30k at 3% and consolidated those with a $5k 5% loan, so the new interest rate was like 3.5% for $35k. It doesn't seem like a lot but the difference in interest, and compounded interest, was around $2k more after 20 years. I was irritated that it was not my signature but a loan officer's on the paperwork. Apparently this fraud was very common.

Also they claim that the consolidation terms included a clause that after three missed payments the interest rate increases by 0.5% or so. However they can't produce any documentation to support this. I challenged it with the credit bureau, and the lender sent in an "attestation" which the credit bureau accepted.

You wouldnt do shit except whine online

Lost in all of the cheerleading and chest beating about "more women in college now than men" is the fact that NONE OF THEM ARE PAYING THEIR MASSIVE STUDENT LOANS BACK

THEY LITERALLY DON'T KNOW WHAT MONEY IS

federal government artificially increases the price of school

jewish universities laugh all the way to the bank

young Americans left to pay the bill

boomers and Anon Babble defend this

The highest percentage of delinquent student loan debt holders attended HBCU's. It's literally Black's fleecing Black's like a user car lot, even in higher ed.

why do americans do this? I thought you have community colleges?

also, could this cause a crash like 2008 housing market?

No because housing is an asset while deadbeat college grads are worthless

Im just not paying is all lmao
If they send me a letter telling me they're garnishing my wages, I'm sending a letter back saying that first I'll quit and go on stamps and unemployment, and second that I borrowed during last shmita cycle and therefore my debt has been jubilee'd.

Good news, the garnishment also applies to federal benefits

Damn that is good news!
Good thing I own silver, gme and iraqi dinar ehuehuehuehuehuehue
I'll buy a tent and live on blm land in northern california while I get oregon and cali food stamps and trade for cool gemstones along i5 if it comes down to it I can't be held down by this fake and gay satanic construct any longer!
I plead the blood of Jesus, Release the finances of the believer for the end times revival that must take place before tribulation, You smear, Satan !

8XXRP

My sister is doing her 3rd degree and taking on a ton more debt

Shes married with 2 kids, but shes got like 150k in debt from the first 2 degrees, now shes doing a 3rd

Looking at the interest rates on her debt, she will never pay those debts off, she only pays the minimum, and the minimum shes paying doesn't out do the interest that makes the debt increase

Its crazy how shes thought it would be a great idea to get a 3rd degree

Its like she just doesn't get it or how the world works

But I guess shes married with kids, so shes basically done all she really needs to do, at least she isn't a childless feminist without a husband

150k in debt from the first 2 degrees, now shes doing a 3rd

But... why?

Oh fedboy weve long past the point where you get to say you wont do shit because YOU wont do shit.

public school

Those are free though?
This is talking about private education...
Are you perhaps retarded?

Who the fuck knows, I already wondered why when she went back to get a 2nd

I planned on paying, but then in january trump launched his coin and my coins dumped 95%. I was unable to continue paying for storage on my gmail account so i have no idea what the status of my loans is. I actually did try to pay them back, but they don't accept pre-paid visa cards (my only option since my only form of income is crypto + no bank). Not sure what they expect.

I'll graduate this year with less than 10k in student loans for a useful degree because I did gen ed at a community college and went to a state school to finish. No sympathy for blacks, browns, and women who racked up 200k in loans for their ethnic studies degree. It's a fucked up system for sure though

Bump

The indoctrination by public schools to go to university. Please go back to PUBLIC SCHOOL and learn English.

number goes from a gorillion dollars to 1.5 gorillion

If you can never pay it back, might as well double down and debt maxx. What’s the difference between 150k and 200k when both are impossible?

you cant discharge student debt because theres nothing to repo in exchange

And this is the entire problem. Why are there so many people locked into predatory student loans they should have never qualified for? By making it "non dischargeable", they suddenly, magically qualified. Yet another massive mistake on part of our government.

Student loans should be like any other loan. Then banks, by necessity, will only grant them to those who are low risk. Then schools, by necessity, will have to lower their tuitions and downsize. This is all one massive fake gay faggot bubble ushered in by the creation of literal state mandated debt slavery. There shouldn't be niggers and women piling into institutions of "elite" higher learning with $100k+ in loans apiece to study poop and art history.

His CS program is dogshit

Schools should have to payback money for those in default. The school should have skin in the game , and not just saddle the individual with unlimited debt because the school opened up a new athletics center.
4 year educations at community colleges should be low cost.

because the government has the capacity to induce payment, something no other collection agency has. banks are not generally the institutions giving out student loans and you can be sure the government is going to hit you up for any drop of revenue it can get

just dont take a debt you can never pay. why cant those "educated" people understand this??

to be fair, they were not particularly educated when they got hooked into this debt

these only became undischargable 20 years ago.

Is it ethical to market to young people, degrees which have no real world application and no unsubsidized employment prospects on no money down upfront terms?

These loans are predatory, colleges take advantage of it by raising tuitions way past inflation, and it makes Americans too expensive to hire because you have to cover their massive debt payments.

The solution is to FORGIVE ALL DEBTS, but that's not happening, it's only going to get worse and worse.

Not at all. It's the largest predatory scheme in American history. Every single institution, every single adult in authority, tells 16-17 year olds it is in their best financial interests to rack up any debt necessary for any degree at any school and there is basically no advice otherwise.

You wont see any change in the system until colleges are punished for charging money for worthless degrees
Make them cover the costs

take loan without collateral

"wtf why can't i declare bankrupcy and delete my debt for free?"

murica

This is what happens with medical debt

It is an essential way to keep lending honest and prices low. Otherwise you get the sugar high free for all we've seen. If banks don't assume a proper amount of risk in their lending, they lend gratuitously. And that inflates all affected markets/prices.

The indoctrination by public schools

What's about private schools then?
Do they indoctrinate you to not go to college?
Yeah you're retarded.

university

Oh you're a jeet

it is the same poorfags and low-class trash who currently cry about their college debt who cried about not being able to accrue college debt years ago

"education is gatekept by the rich, we should be able to get into college debt in order to educate ourselves, then we can pay it back with our high-paying jobs"
they get what they asked for (loans and a higher education they would normally never qualify for), but then they became "victims" of not being able to invest 2 hours into figuring out how they plan to repay the loan before signing it

The dollar, banking system, Wallstreet, insurance and our government are all intricately tied together. The dollar system is ruined and you can't get rid of the debts without also getting rid of the banks. The money no longer exists and the system is bankrupt. This is why you need to be keeping some of your wealth in tangible, valuable assets outside of the banking system. Only the masses are large enough to eat the losses, and the means of sidestepping those economic losses with only be heeded by the minority.
Every penny you have ever earned in your life is default in the system, and it takes action to remove yourself from it.

you're leaving out the part where colleges and the federal government lie about employment prospects, especially at entry level. right now the BLS is projecting "faster than average" growth in software and schools are still pushing computer science as something that is highly employable. the government will refuse to quantify how terrible the job market is and schools won't report on employment outcomes.

bls.gov/ooh/computer-and-information-technology/software-developers.htm

more than likely, it has nothing to do with the degree in underwater basket weaving. she's probably investing (or spending, because woman) the ~$30k a year from GradPLUS she gets refunded for "living expenses."
while in-school, loans are deferred.
with IBR, at around 100k, increasing the total sum does not change the monthly payment
IBR will likely be shuttered for new loans taken out starting july of next year, but, for now, it's free money.
Anon Babble does not and never has understood this meta.

dating girl

10k owned debt (parents took on rest idk how much)

expensive film school

drops out after 1 year

told me she refuses to pay it back

not 1 person I met at her school is doing shit in the film industry, what a scam

The only way forgiving debts could work is if the deadbeats give up any and all welfare for the rest of their lives, and no more college loans are issued.

The American economy runs on injecting credit into the economy. Youngsters receiving an education were the perfect place to kick the can once the housing industry (and all of the jobs it created) started to peter out.

FORGIVE ALL DEBTS

wait till you realize who's paying for it lmao

"hehe we're going to OWN these bankers, how dare they trick tyrone into maxing out his credit cards"

"wtf where are my savings?!?"

the government lied to me? le gasp!

these people would still go to college completely independently of these reports
your standards of college-goers are so low you can't even expect them to invest 1 hour of their life into figuring out how interest works, yet you expect them to look into employment projections
most would go to college anyways because higher education has degenerated into some kind of cultural rite-of-passage or extended highschool experience rather than a serious institutions

If it's not STEM or Law, college does not seem like jack shit. How many classes did I take that felt like a complete waste of money and time. I wish we had a master/apprentice society.

Anyone stupid enough to own "savings" instead of having all their spare cash in a low expense short term treasury bond fund like SGOV deserves to have their money expropriated by banks.

you own bonds that nobody can lend out without your permission instead of giving away your money for banks to invest in

collect higher interest than any savings account

interest is exempt from state level taxes

Savings are for the dumbest of niggermutts

the loans do seem predatory as fuck...18 year olds taking on 5-6 figure debt is crazy when you think about it

elaborately low IQ "just world fallacy" argument

nigger shut your dumb fucking lips. i'm not even a recent college grad and i make good money, and i can see the entire student loan industry is a scam predicated on lies. you get any sort of a business loan and the bank requires due diligence and evidence that the acquired assets are valued appropriately (valuation report, audited financials, etc.). yet somehow the determination of whether or not a college degree is viable and employable falls entirely on the shoulders of an 18 year old, who is expected to make this decision on the basis of borderline fraudulent jobs reports or opaque/non existent degree outcomes published by a school?

yet somehow the determination of whether or not a college degree is viable and employable falls entirely on the shoulders of an 18 year old,

I mean yes the system is designed to eat people and extract value even at the low cost of their lives. Look at the military. They send fully geared marines into middle schools and high schools to make children all starry-eyed and go woah i wanna be like them and proceed to zogwash them into joining JROTC. Humans are just meat for the grinder as far as our satanic money worshipping system is concerned.

again, the system worked as intended for the longest time. college debt required a guarantee such as collateral to be taken
then the poor masses cried about the injustice of not being able to afford higher education. they got what they wanted for, access to credit they would normally never have, without having to worry about asset seizure. all they have to do is repay it at some point
then it turned out that the poor masses not having access to higher education was a feature, not a bug

even if we went back to what we had (with which i agree), the poor hecking masses would go back to crying about the injustice of not having access to college debt and politicians would eventually oblige because they cannot admit that education is worthless for the majority of humans

When I was 18, the school allowed us to all get corralled into the cafeteria to have some jew sell us "class rings". I also remember a guidance counselor sitting us all down and flat out saying "It doesn't matter how much it costs to go to school, you can just pay it back later". That was a few years before 2007-2008 lol.
The simple truth about America is you literally have to wise up and stop being a tax-cattle. This place is occupied territory of the international finance cabal and self-sabotage of the tax cattle is the gameplan. Everywhere you look in this place you will find someone trying to put a noose around your neck, and you need to check out of whatever cultural norms this place sets up for you. And no, you most certainly not trust you peers who have been stewed in the same brain-rot as everyone else who grew up in this country going to school, listening to music, and engaging with television and media.
Americans need a handbook on how to survive America lol.

Colleges need to do their actual job and publish science that clearly shows correlation between the IQ spectrum, impulse control, delayed gratification, and wealth inequality.
Biology is elitist.
Some people are only fit for menial labor as Yacub intended lol. If colleges actually did good research, they'd be able to stand on business and scientifically prove why college should be reserved for remarkable individuals

AAH JEEZZ DOOD. IT'S LIKE, MY LEG BRO, IT HURTS. I NEED THEM PILLZ BRO BUT I CAN'T AFFORD THEM.

Democrats have run on forgiving student loan debt, no fucking wonder people keep applying to get worthless degrees for 6 figures.

I agree with you except on one issue.

the poor masses cried about the injustice of not being able to afford higher education

It wasn't the masses that asked for it. It was democrats and their donors (universities) that craved the influx of public funds into them.
The only beneficiaries of this program are universities and left politicians that got juicy donor paychecks from uni. Whoever wanted to study could save for soem years and get it financed.

the president could just turn all student loans into grants but also get rid of public schooling all together.

In a world where the retarded masses make clowns rich it is difficult to make a strong case for high IQ as a way to success.
If anything business owners seem to be more often in the midwit range, simply because it lets them be more daring, where the genius guys are overthinking every move.

Good goy

The solution is to FORGIVE ALL DEBTS

The government (taxpayers) have no money to do that. I say they charge it from the colleges for being predatory and watch how fast the college meme dies. It would liquidate all but the elite unis.

My dad has MS, he’s wheelchair-bound. I learned a year ago he’s paid over $17,000 out of pocket for medical bills. It makes me really sick when I think about it. He paid for something like he had a fun to his head and he didn’t have to. Meanwhile the ERs are full of Nigerian migrants walking in for literally nothing knowing that they have to be seen and knowing that they won’t be paying. Boomers and gen X are just like that. They’ll stand in line to get jew’d

This money isn't going to be paid back. There are only losses to spread out. Once people stop paying into the system they won't be able to kick the can any longer. Once you take your pent-up demand units out of the bank and Wallstreet and start trying to spend it will the real-world shortages be actualized.
This is why people need to be stacking precious metals. because none of these debts can even be remotely paid.

You don't need money to forgive debts, you just declare a clean slate.

the government hasn't run a neutral deficit in nearly 30 years. imaginary fiat money that was printed out of thin air was handed over directly to universities with no due diligence on the part of the lender -- and the lender (the government) has the audacity to demand repayment of this imaginary money with interest and without the protection of bankruptcy? the money never existed in the first place. why should it be paid back?

Good thing its all liberals