Given the situation, this is just about the least surprising headline possibly ever…
Ancient_Popcorn on
Trump and Republicans: You shall be poor, and like it. If you want money, you can work for the company. If you want food, you can buy it from the company. If you want a living area, you can get it from the company.
firemage22 on
I’m about 4k from clearing my debt, if they try to do this i have the means to clear it in one go, it’d be draining but i’m lucky i have that option. But many others aren’t so lucky.
WhoIsFrancisPuziene on
After abolishing ICE, abolish the whole damn gerontocracy. They don’t seem to want any of us younger folks to have a decent life.
superawesomefiles on
So will they be able to discharge it through bankruptcy now?
grandzooby on
If the administration somehow converts them into some kind of private debt, then it should all be dischargeable in bankruptcy.
-CJF- on
Pretty sure that would be an illegal violation of the MPN. It also completely changes the loan terms after the loan has already been taken out which has to be against contract laws. Either way, if this happened to me I’d just give up on paying it at that point.
Baumer9 on
But government handouts via the PPP scam are perfectly fine. Brought to you by the pedo GOP.
justaddwhiskey on
I swear on everything, if they sell the debt I’m not paying a penny. As far as I’m concerned, this is between me and the Department of Education. Not some sleazy investment firm.
MoneyTalks45 on
You ain’t getting a damn thing from me brother
Wild_Read9062 on
Is this what it felt like on the Titanic just before they hit the iceberg?
Corporations created this iceberg when they gave up training entry level employees and pushed the burden to families and the education system.
Then, they raised the bar, creating a hiring system that begins with a bachelors degree.
And then… they took all of that to create an AI based system that is pushing the same people out of jobs and locking new grads out.
Rather than solve for this, this administration took billions and threw it away on ICE thugs, terrorizing blue cities and brown skinned people.
Rather than use AI to help provide America ma our basic needs, they’re using it to fatten the quarterly earnings numbers for companies that cannot grow any larger (how big can monopolies really get?).
And now, they want everyone who participated fairly to take another punch in the gut for… who, banks?
We’ve hit the iceberg, it’s obvious. And rather than fix anything, the Captain is ordering full steam ahead.
FlaviusVespasian on
If Trump does this, I will flip my shit. I have no idea what I would do. This is a vile action for which the administration would deserve to burn in hell for eternity.
Sad_Construction3970 on
Is bankruptcy an option then?
Tommy__want__wingy on
Holy shit…
Big Short 2.0…
No-Blacksmith1462 on
This isnt really a bad thing. Its pretty stupid policy, as a 10k discount from Biden would have likely netted the US gov more money.
Private lenders need to jump through a lot more hoops in order to take your money and people are much more likely to get a judgement in their favor.
I’m all for this tbh. I would love my opportunity to state my case of how I was defrauded to a judge rather than try to explain it to the federal Gov.
+ there’s a great chance a mediator would let you reach a settlement at a much lower amount.
kaiiizen on
An administration full of self-interested, opportunistic 1 percenters is finding more ways to exploit people and profit. Who finds this shocking?
JamUpGuy1989 on
I am just amazed SAVE hasn’t been wiped yet. You’d think this administration would’ve the court case dismissed so they could dismantle it already.
Didn’t people claim that if they tried this, or got rid of Dept. of Education, it would make the loans we signed years ago null and void? Like, we agreed to pay that Department. Not whatever the fuck shit they are trying here.
g---e on
I knew it. I said they would do this and ya’ll told me this couldnt happen. We’re cooked.
HolyErr0r on
If they sell the debt are you legally obligated to still pay it?
cheshirecat1917 on
I have federal loans. They sell mine, I stop paying.
Minute-Plantain on
“It threatens the loss of borrowers’ legally guaranteed protections, and the sale would likely be illegal if the debt is sold at a loss for taxpayers.”
Omg theyre proposing fully privatizing.
Do it! Let it happen!
It would strip federal protections and make it dismissable in every state court with a statute of limitations challenge if the debt is old and the consumer doesnt reactivate it.
keytiri on
Who’d be dumb enough to buy student debt? The younger gens are already in dire financial straits, which do you think they’ll choose: food, rent, or debt?
TheSheepdog on
Lol sick, add it to the list
wellJustWhy on
Pushed to the edge the greedy will clutch their riches. Even when the shackles of justice are clamped on their wrists. They are blinded by the power they have been allowed to amassed. Finding creative ways to expose the injustices is the hardest part of the struggle. Inflatable frog humor is a current example of light hearted entities exposing the lies and corruption.
24 Comments
Given the situation, this is just about the least surprising headline possibly ever…
Trump and Republicans: You shall be poor, and like it. If you want money, you can work for the company. If you want food, you can buy it from the company. If you want a living area, you can get it from the company.
I’m about 4k from clearing my debt, if they try to do this i have the means to clear it in one go, it’d be draining but i’m lucky i have that option. But many others aren’t so lucky.
After abolishing ICE, abolish the whole damn gerontocracy. They don’t seem to want any of us younger folks to have a decent life.
So will they be able to discharge it through bankruptcy now?
If the administration somehow converts them into some kind of private debt, then it should all be dischargeable in bankruptcy.
Pretty sure that would be an illegal violation of the MPN. It also completely changes the loan terms after the loan has already been taken out which has to be against contract laws. Either way, if this happened to me I’d just give up on paying it at that point.
But government handouts via the PPP scam are perfectly fine. Brought to you by the pedo GOP.
I swear on everything, if they sell the debt I’m not paying a penny. As far as I’m concerned, this is between me and the Department of Education. Not some sleazy investment firm.
You ain’t getting a damn thing from me brother
Is this what it felt like on the Titanic just before they hit the iceberg?
Corporations created this iceberg when they gave up training entry level employees and pushed the burden to families and the education system.
Then, they raised the bar, creating a hiring system that begins with a bachelors degree.
And then… they took all of that to create an AI based system that is pushing the same people out of jobs and locking new grads out.
Rather than solve for this, this administration took billions and threw it away on ICE thugs, terrorizing blue cities and brown skinned people.
Rather than use AI to help provide America ma our basic needs, they’re using it to fatten the quarterly earnings numbers for companies that cannot grow any larger (how big can monopolies really get?).
And now, they want everyone who participated fairly to take another punch in the gut for… who, banks?
We’ve hit the iceberg, it’s obvious. And rather than fix anything, the Captain is ordering full steam ahead.
If Trump does this, I will flip my shit. I have no idea what I would do. This is a vile action for which the administration would deserve to burn in hell for eternity.
Is bankruptcy an option then?
Holy shit…
Big Short 2.0…
This isnt really a bad thing. Its pretty stupid policy, as a 10k discount from Biden would have likely netted the US gov more money.
Private lenders need to jump through a lot more hoops in order to take your money and people are much more likely to get a judgement in their favor.
I’m all for this tbh. I would love my opportunity to state my case of how I was defrauded to a judge rather than try to explain it to the federal Gov.
+ there’s a great chance a mediator would let you reach a settlement at a much lower amount.
An administration full of self-interested, opportunistic 1 percenters is finding more ways to exploit people and profit. Who finds this shocking?
I am just amazed SAVE hasn’t been wiped yet. You’d think this administration would’ve the court case dismissed so they could dismantle it already.
Didn’t people claim that if they tried this, or got rid of Dept. of Education, it would make the loans we signed years ago null and void? Like, we agreed to pay that Department. Not whatever the fuck shit they are trying here.
I knew it. I said they would do this and ya’ll told me this couldnt happen. We’re cooked.
If they sell the debt are you legally obligated to still pay it?
I have federal loans. They sell mine, I stop paying.
“It threatens the loss of borrowers’ legally guaranteed protections, and the sale would likely be illegal if the debt is sold at a loss for taxpayers.”
Omg theyre proposing fully privatizing.
Do it! Let it happen!
It would strip federal protections and make it dismissable in every state court with a statute of limitations challenge if the debt is old and the consumer doesnt reactivate it.
Who’d be dumb enough to buy student debt? The younger gens are already in dire financial straits, which do you think they’ll choose: food, rent, or debt?
Lol sick, add it to the list
Pushed to the edge the greedy will clutch their riches. Even when the shackles of justice are clamped on their wrists. They are blinded by the power they have been allowed to amassed. Finding creative ways to expose the injustices is the hardest part of the struggle. Inflatable frog humor is a current example of light hearted entities exposing the lies and corruption.