U.S. Stepping Up Enforcement on Delinquent Student Loans
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Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#2I don't envy people on the receiving end of this.
That said, it sounds like it's part of the trend to begin to put pressure on the universities by making student loans less attractive. If there are consequences for racking up large student loans that you can't pay people may think twice about taking them on.
For years Universities have been increasing tuition on well beyond the rate of inflation, often for degrees that have no real market value, with the money going mostly to administrators not the ones actually creating and teaching the material. Unless you start to put pressure on the funding source etc. there is no way to begin to reign this in.
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#3I don't envy people on the receiving end of this. That said, it sounds like it's part of the trend to begin to put pressure on the universities by making student loans less attractive. If there are consequences for racking up large student loans that you can't pay people may think twice about taking them on. For years Universities have been increasing tuition on well beyond the rate of inflation, often for degrees th…
Pressure on student loan repayments isn't going to change anything if the loans still have the same availability in the first place.
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#4I wonder how long until there's a "millenials are killing the student loan deferment industry" article.
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#5You can wring a dry towel and all you want but never get a drop of water.
These people are by and large broke. It’s likely to cost more in enforcement than they’ll get back.
At least the IRS will continue to lack funding so the rich don’t have to pay .
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#6Become a plumber or carpenter without going to college. Work for a large city and work a lot of overtime. Retire at 50 with 1.5x pay and full benefits.
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#7I don't envy people on the receiving end of this. That said, it sounds like it's part of the trend to begin to put pressure on the universities by making student loans less attractive. If there are consequences for racking up large student loans that you can't pay people may think twice about taking them on. For years Universities have been increasing tuition on well beyond the rate of inflation, often for degrees th…
Pressure on student loan repayments isn't going to change anything if the loans still have the same availability in the first place.
If the executive order signed in March does what it says it will I would not be surprised if that changes as well...IE: shifting some of the liability for non-payment back on the university and requiring them to state what the default rate is for graduate. IE: IF you take on this loan, how likely will you be able to pay it back later on.
https://www.foxbusiness.com/economy/trump-pursuing-ways-to-h...
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#8What's incredible is how politicians like Bernie Sandres and Elizabeth warren are sending messages to all these debtors that their debt is illegitimate and they shouldn't pay for it.
I bet a beer you can trace delinquency to the politicians speeches
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#9Instead of collecting debts, they should figure out how to make education free.
Re: U.S. Stepping Up Enforcement on Delinquent Student Loans
#10Disclosure: I work as a blue-collar engine mechanic. Ive never been to college.
That having been said, im familiar with debt after the 2008 housing collapse. I lost my truck and my trailer home, partly because of a shady home loan and partly because well, my employer went out of business. That having been said it was relatively easy to discharge these debts. the bank wasnt too upset about the home and offered to help me restructure payments, which I agreed to until I found someone else to buy it from me. The truck I sold back to the dealership...which incidentally also went bankrupt, but they were easy to work with.
I know people in this town with student loans that show up at the local watering hole every week and count their beers in dollars and their tips in change. One of them got her license revoked because she wasnt able to make student loan payments, and had to move back in with her folks. Because she has outstanding student loan debt, she cant qualify for section 8 housing or food stamps. Even her family gets harassing calls about the money she cant pay back fast enough.
She is a biologist, but all of her money goes straight to the loans. it has for 9 years now.
Why is it I can ditch close to 90 grand in loans lickety-split but students cant? how is education any different?