I'm already not paying and I will continue to not pay. Though it's surprising to see how many people agree with this sentiment.
62% of Student Loan Borrowers Say They're Likely to Boycott Repayments: Poll
Submitted 1 year ago by return2ozma@lemmy.world to workreform@lemmy.world
https://www.commondreams.org/news/boycott-student-loan-repayment
Comments
Otome-chan@kbin.social 1 year ago
MajorHavoc@lemmy.world 1 year ago
The deal was that the education would get you more income, and specifically a living wage. If that didn’t happen, I approve of taking your refund any way you can.
Otome-chan@kbin.social 1 year ago
Yeah. I graduated uni with a computer science degree. It's been a decade now and I have not acquired any sort of stable income or employment.
TheHottub@lemmy.world 1 year ago
I live paycheck to paycheck on 150k/year. Every time I made more, more was needed for rent, medical, car maintenance, lemon cars breaking down, gas, 3 kids food… Right on the perfect path where every time I needed something I was in the perfect position to be fucked by high interest rates and not being able to make sound financial decisions before hand. Because I never started with money. I get so angry when people tell me “but you make good money.” But I have tons of debt from living on the edge for decades. I do absolutely nothing because I have no money left over at the end of each paycheck.
No idea where $610/month is going to come from. So again, yes I make “good money” but the path to get here has taken it all and is still taking.
Shiggles@sh.itjust.works 1 year ago
3 kids
Once of these things is wildly more expensive and entirely optional compared to the rest.
TheHottub@lemmy.world 1 year ago
Life finds a way. Do you want me to explain deeper into how a married man and woman living together end up making babies? To be fair. Our third was an accident and it was a hard decision to go through with it. Also, with each child a momentary boost or good news was had monetarily that would soon become moot.
And if starting out wealthy is all you seem to think should drive humans having children, consider how many people have fallen into poverty or are living paycheck to paycheck that would have otherwise not had children. The economy would collapse.
Mdotaut801@lemmy.world 1 year ago
[deleted]kungen@feddit.nu 1 year ago
While I agree with your sentiment, why should parenthood be something restricted to only those who are generationally wealthy?
Igotz80HDnImWinning@kbin.social 1 year ago
Holders of Student Loan Asset Backet Securities and a series of credit default swaps are gonna fight back hard. Hold the line. If bribing a senator is free speech shouldn’t Citizens United also protect borrowers witholding their “speech” to communicate their condemnation of a policy?
OwenEverbinde@lemmy.myserv.one 1 year ago
Anyone signing up for the new SAVE income driven repayment plan?
Apparently if you’re making anything under $32,800, your payments can still be paused.
MajorHavoc@lemmy.world 1 year ago
I’m glad to hear that’s in place. It’s almost literally the least we found do. It’s wild that we needed a law for that.
I would be surprised if there’s many people in the US earning under $32.8k and successfully making every loan payment, anyway.
Seems like the program just acknowledges what ought to happen anyway.
Mdotaut801@lemmy.world 1 year ago
You have to try to make under 32,800. That’s not very helpful to a lot of college grads lol.
Toribor@corndog.social 1 year ago
You’re assuming everyone with college loans has a degree which is not always true. Plenty of people take out loans intending to get a degree and don’t make it all the way. Those loans don’t just go away. Now they are paying towards a loan while having none of the benefits from having a degree. Plenty of people with a degree stop working to start a family.
It’s pretty easy to understand why many people with student loans might be making less than ~$30k a year if you think about it a little bit.
shastaxc@lemmy.world 1 year ago
Only the ones with philosophy degrees
Crisps@lemmy.world 1 year ago
You should pay these back, because they’ll take it in less convenient ways. However I view these loans as predatory because they are marketed to children. You may have just turned 18 when you signed, but you were certainly under 18 when the decision to take the loan was really made.
Gray@lemmy.ca 1 year ago
When I agreed to go $60k into debt, I was a stupid high schooler under the age of 18 who had never had a real job and didn’t know what money was worth. Colleges were spamming misinformation at me to get me to give them my money. I was misled on the ease at which I could get a job out of college. I trusted that the system wouldn’t charge me more than the value of my education. 6 years out of college now, still $45k in debt. The system fucked me over royally when I was still a kid.
southsamurai@sh.itjust.works 1 year ago
That one person to the right in the thumbnail doesn’t quite get how it works.
“No repayment until cancellation is delivered”
Yeah, that’s kinda not a threat. “I’m not going to pay you until you tell me I don’t owe anything”
Methinks someone slept through a few classes ;)
drewdarko@kbin.social 1 year ago
Not all student loans were eligible for forgiveness.
That sign is saying people who were going to pay their loans should also not pay out of protest.
southsamurai@sh.itjust.works 1 year ago
I appreciate the correction :)
waraukaeru@kbin.social 1 year ago
They weren't cancelling all debt, just a portion. The sign is saying they won't repay anything until that portion is cancelled as planned.
southsamurai@sh.itjust.works 1 year ago
Thanks for the correction :)
astanix@lemmy.world 1 year ago
Wage garnishment will prevent most people from following through its my guess.
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.
drewdarko@kbin.social 1 year ago
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.
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.