So don’t pay and make them work for it.
With the labor shortage right now it would be expensive for loan collectors to hire enough workers to track down and force payments if people stop paying on a large scale.
Comment on 62% of Student Loan Borrowers Say They're Likely to Boycott Repayments: Poll
astanix@lemmy.world 1 year ago
Wage garnishment will prevent most people from following through its my guess.
drewdarko@kbin.social 1 year ago
NatakuNox@lemmy.world 1 year ago
Can’t get blood from a stone. Mass Garnishment will just result in crime and tax evasion. If defaults happens on a large enough scale it’ll be impossible and political/economic suicide.
joekar1990@lemmy.world 1 year ago
The way student loans are structured you can’t not pay them. Don’t pay your loans and default wages garnished. You get a tax refund normally well they’ll take that. Oh you are on government assistance well they’ll cut the amount you get. Want to declare bankruptcy sorry still gotta pay the loan.
It will only be worse for incoming freshmen since the rates will now be between 5.50-8.05% last I saw.
No matter what people who lent money for student loans will get paid unless the whole system changes and judging by those in charge there is a snowflakes chance in hell that happens unfortunately.
ArmokGoB@lemmy.dbzer0.com 1 year ago
Time to leave the country and never return.
jeanofthedead@sh.itjust.works 1 year ago
I don’t think your debt disappears if you expatriate.
glorious_albus@lemmy.world 1 year ago
Banks hate this one simple trick.
sturmblast@lemmy.world 1 year ago
it doesn’t go away but if you don’t come back it doesn’t really matter
waraukaeru@kbin.social 1 year ago
You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don't move back.