Brown Shirts and the farmers need free money so that they can buy SUV's and play in the mud. White House Says It Will Seize Wages To Pay Back Student Loans—Here’s What Borrowers Can Expect
I have always believed that student loan debt collectors had (has been) garnishing wages of those who have defaulted on their student loans long before the Covid Pandemic. Yet, I've never heard of someone that's old and receiving their pension with a defaulted student loan. Usually those types of people would have defaulted so long ago that 7 1/2 years would have expired that the defaulted loan and it would no longer be on their credit report. However, student loan debt in default and after the 7 1/2 years credit report limit...a student is still responsible for the debt and can still have their wages garnished even when it's no longer impacting their credit report. Here is a scary statistic...42.7 million borrowers owe more than $1.6 trillion in student debt with an average monthly payment of about $320 dollars. Yet, if/when the FED lowers interest rates...the typical student will accumulate more debt. Yet, if their are students loan borrowers defaulted on their student loans and getting a pension...most likely they're old enough to be getting social security too. In addition, the government may be targeting the parents who signed their kids student loans as a co-signer...making the parents a target especially if the parents are receiving a pension. It's a crisis that adds to the escalating/out of control rising debt in the United States. I can see a dramatic rise of students filing for bankruptcy...before allowing their Parents wages or pensions garnished similar to the way Trump has done to manipulate the system in favor of his real estate business when it went bankrupt. In the meantime, students should be seeking employment at jobs who offer student loan payment bonuses after employed for one year at a business that offers student loan payment programs as a benefit for employment. Therefore, I believe employers will be key in paying the student loans of those they employ because the old way (students paying their own student loans or seeing their wages garnished) has not been working...student loan debt has skyrocketed in the past 20 years. I graduated from an elite university in the United States. Yet, I knew students who were going into heavy debt to attend college while obtaining a college degree that could not compensate with an employment from the degree that would earn them an income that would pay off the student loan debt. For example, a friend in Chicago has a daughter accepted to Northwestern University a +90k per year university...she will be on student aid while she's obtaining a degree in "English literature". Parents need educate their children about what type of degrees at a very expensive university has a high probability of not helping them repay their student loans debt and encourage them to attend junior college for a few years at a significant lower cost. The student can then transfer to a 4 year university...reducing their student loan debt total. Just as important, there is a crisis involving the high cost to obtain a college education at most public universities and almost any private university. Outrageous higher education costs. Decreased government funding, increasing administrative costs, and the high demand for college degrees. Furthermore, the competitive market for students, the focus on campus amenities, and the easy availability of student loans also contribute to the high costs...all the above contributes greatly to the outrageous higher education costs in the United States. Top 30 Companies That Will Pay Off Your Student Debt https://www.sparrowfi.com/blog/top-30-companies-thatll-pay-off-your-student-debt Pay Your Debts wrbtrader