Student loan bros - we just can't stop winning. Looks like another payment pause is coming:
>Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter.
>The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy, which has been in place since March of 2020, allows people to forego making payments their student debt without accruing any interest.
>Nearly all borrowers have taken advantage of the relief opportunity.
>The payments are scheduled to resume after Aug. 31, but the pause could be extended to 2024, sources say.
>More than 40 million Americans are in debt for their higher education, owing an accumulative $1.7 trillion, a balance that far exceeds outstanding credit card or auto debt. A quarter — or more than 10 million people — were in delinquency or default on that debt prior to the pandemic. These grim figures have led to comparisons to the 2008 mortgage crisis.
>Most recently, the White House was reported to be leaning toward canceling $10,000 in student debt for most borrowers, but it’s increasingly under pressure to go further. Politicians such as Senate Majority Leader Chuck Schumer, D-N.Y., and groups such as the NAACP have repeatedly pushed the president to wipe out at least $50,000 for all.
They are never going to do it, but they can keep kicking the can down the road since the government owns most of the debt. They know the minute they start demanding payments in *this* economy, half of the youth vote tunes out or become actively hostile. Student loan stories have been trending for the last year for good reason. They are dangling that carrot and hoping to lead the small youth vote to the left in the midterms.
The youth vote is already lost for the Dems at this point. 18-34 hate Biden more than any other age demographic. The good news is that the Dems might throw a serious bone to debtors in order to salvage whatever they can.
Tyler Williams
Relatively small. People under 25 are the only cohort in the US who don't have at least a 50% participation. Kids are always lazy.
>The good news is that the Dems might throw a serious bone to debtors in order to salvage whatever they can. I honestly like to see it, man. I don't think it will ever happen, but student loans are some of the most predatory loans out there.
Jacob Mitchell
My loans say November now
Adrian Parker
Meanwhile just before the 2024 election >debts forgiven And just like that! Trump utterly crushed.
Easton White
A debt jubilee for student loans would be a godsend, but if that happens, people will demand the same for health care bills(which should also happen). Unfortunately the companies holding all that debt will kill a lot of fucking people before they allow it to happen.
Except most of those demographics still have student debt
Ian Barnes
Considering that they did this with COVID, it's not out of the realm of possibility.
Jackson Hall
>no archive link fake
Leo Collins
Thats literally how elections work worldwide. Even Trump started giving handouts and freeing niggers out of jail lmao.
Brandon Garcia
Most student debt is backed by the government, which is why these companies aren't freaking out. I was under the impression that most healthcare is to. I live in California, and I'm sure it's different all over, but the fed allows hospitals to write off uninsured patients. That's why they jack the prices up so much. Treating sick people and giving young people with no jobs loans to go to college is almost as certain as government bonds. They have debt... that they've been paying dutifully on for a long time. They'd like to get relief - sure - but they don't want to see younger people get a free ride when they didn't. That's why older generations always trend conservative. Shit rolls downhill, buddy. The fact that you don't know leads me to believe you are young and not established. Do you hate the boomers for ruining your chances?
It should be illegal to charge interest on loans, one time lump payments for the loan are acceptable (but absolutely no more than 10% of the total value of the loan)
Adrian Smith
If they have unlimited money for UKR then they can forgive all student debt.
CAL/UCLA reject who attended shit tier UCSD Still owe 10K
Brayden Stewart
The government should just cancel literally ALL debt foreign and domestic including the national debt, and dare any force on this earth to do anything about it
Luke Scott
What a horseshit mentality to have. It's like a fucking mental deficiency. And no I hate boomers because they're faggots.
I think the Dems are just going to pseudo-forgive them by deferring payments infinitely. It kinda works the same as forgiving it without needing to jump the hurdle of actually forgiving it, they'll have plausible deniability all the way until a debtor dies of old age, still deferring payments. They'll always have some crisis on hand to rationalize the pauses with, we've been going from one crisis to the next since 9/11 to continually rationalize other policies, so why not this too?
But obviously the best part of it for Dems is that if Republicans get stuck with being the party of no-deferrals, then the Dems can effectively buy the votes of young people with student loan debt with the payment deferrals. Not only will they lure debtors into planning their finances around not making payments, but if the loans continue to accumulate interest while they're not getting paid, the debt only ever gets worse. So deferral of payments one year makes deferral of payments the next year even more crucial to avoiding insolvency. All of this compounds to insure that the heavy student debtor is a one-issue voter and can only ever vote for one party, the party of student loan deferrals.
Brandon Bell
I like how you went from: >akshually the youth vote is vErY lArGe!!1 to >you must have a mental deficiency because you aren't telling me what I want to hear in 3 posts. Keep it up, buddy. It's a real winning attitude.
I'm fucking sick of junk debt buyers buying up written off debt for pennies on the dollar and then suing you for full-face value. The only reason the original creditor doesn't give the borrower this option is because they need to hide the fact they can make almost limitless fractional reserve credit out of thin air.
