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    Defaulted Student Loan Borrowers


    Trump admin to begin garnishing wages of defaulted student loan borrowers. ChatGPT says it’s 10-15% of borrowers. I have no way to confirm this but seems realistic.

    So what’s the solution here? These people are absolutely screwed for a long time. Some people say “forgive all student loans”, but one of the bigger counterpoints is people who worked 2 jobs to pay their loans off. Some would say to not punish people in the future because of a messed up system in the past, but if you can’t understand their frustration, you have issues.

    Trump admin should pause all interest for 2 years. This would allow people to lower their monthly payments in the future by getting some paid down. If people don’t pay it down in this time, then start garnishing wages. 2 years. That’s it.

    https://i.redd.it/xftdl7i6969g1.jpeg

    Posted by Legal-Boysenberry-38

    View 8 Comments

    8 Comments

    2. Stochastic-Ape on

      It’s just the matter of time, you can’t defer a loan forever and student loan forgiveness program would never gain enough support in Congress in time to be impactful.

    3. JSmith666 on

      There is a lot of..interesting data about student loans that makes it not a simple answer. 40% never finished their degree so they took out a loan designed to have an ROI and it never realized. A good portion of student loan debt is related to dorms/living expenses. Those would exist anyway but they are now being swept in with student debt.

      There was a lot of grace given during the Covid years…some people took advantage to pay down principal or keep saving the money in a HySa during those years…others assumed it would vanish.

      There doesn’t seem to be a lot of good data on how many of these loans are truly unserviceable and why they are unserviceable. The average payment is $500 a month or a car payment. There is a lot to be said about people’s spending habits and how $500 may or may not be spent frivolously in a persons budget.

      In an odd way i dont think the idea of garnishment is terrible…BUT there should be an appeals proccess to have the amount lowered in special circumstances.

    5. Mental-Search-1191 on

      Please explain the messed up past? I get the want to try and get forgiveness….I had student loans myself as did the wife but when it was clear forgiveness wasn’t going to happen we paid them. Nothing comes without sacrifice and if you dropped out of school you still need to pay the money. The pure bullshit diploma mills people should get forgiveness or partial forgiveness on.

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