the fact that they actually hit the restart button was so insanely unnecessary and cruel. 60% seems high really
The cruelty is the point. You gotta use the whip to motivate your ‘workers’ right.
It’s one of the classic conservative rules: “Rich people perform better for money and poor people perform better when starved.”
Not sure what proportion of loans it accounts for, but the 60% figure probably also includes people like me who currently have $0 monthly payments. Hilariously every month it takes 3 days to “process” my “auto-debit payment” of $0 but I imagine those are all being marked as “paid” in the system.
Be careful. Mine has $0 monthly payments for some years but is still accruing interest.
Thankfully, Biden’s new IDR plan (“SAVE”) waives any additional accrued interest for the month after you’ve made your minimum payment (even if it’s $0.) This fixes the pretty massive flaw in the IDR plans that were allowing loans to grow out of control, despite payments made on them. As if people barely scraping by will not be unduly burdened by an even more massive debt if they ever manage to claw their way out of the low wage hole. Personally, after a long stretch of unemployment and low-wage jobs, I had like 5 years of payments under my belt and my loan had grown by 25%. Lol… Still hurts to think about even though I’m doing much better these days.
FYI, idk if anything will actually come of it, but Biden is now trying to do a more targeted loan forgiveness and one of the groups he is targeting are those who owe more than their initial loans. So, I guess we’ll see what happens.
Fuck the greedy bankers taking advantage of students trying to gain an education. They deserve to get fucked and every American citizen deserves an education.
Fuck the universities too. Why do they cost so much in the U.S.A.?
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Is it an intentional strike or simply not being able to pay?
Strikes are traditionally caused by situations that the striking persons have determined are untenable in one way or another.
I can make the payments, I choose not to. I’d be content with 0% interest options, but for now my payment is set so that i’ll either be broke monthly in order to beat the interest levels or more interest is added on, even though I made the regular payment.
College can be free, it shouldn’t be a burden to anyone.
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Fucking usurer scum. The real cancer of our planet. How is this bs fair?
The real cancer of our planet is all humans. 7 billion and counting.
Edit: 8 billion and counting!!
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I stand corrected!
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I’m also glad you aren’t American.
Politics aside, as someone who defaulted on student loans years ago, don’t do that. It is a decision that will follow you for a ridiculously long time with little recourse.
