Student loan crisis incoming?

An aquantiance to me started talking about student loans in the US. Aparantly, it's looking pretty grim. Defualts are going up on these loans. For the record they were going up prior to 2008 too. I'd post this in Any Forums but here is where it's getting all fun an political.

So, there is a little over 1,7 trillion dollars in outstanding student loan debt. The people whom borrow the most in the US are women and blacks. A little over 7,5% of the debt is owned by private sector as i understood. Student loans are not a new thing, and without actually double checking im just going to assume that it's been like this for a few decades and that it's been accelerating. What else other than loans could enable women and niggers to afford to go to college anyway? Without ever having set foot on a US campus, I'd wager I'd see more women and blacks there today than i would ten years ago, and conparing ten years ago with twenty years ago there would be more women and blacks. So the (used to be right up until recently) hard to hire, therefore high risk loan takers have increased. Kek.

Shortly after the crash of 2008, if im to belive Any Forums Banks started pushing for identity politics really, really hard and diversity hiring seems much more common place now than before. This could just be due to the fact that more niggers and women borrowed money and enrolled into college and needed a job, but they could also be aided by the banks lobbying to get these people hired just so they could pay their damn loans. Quite logical. Symbiotic between the even. Parasitical upon us.

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So why did Biden forgive all those loans, are they bailing out the private portion of loans too? Are these loans posing a systemic risk to the banks? Did the government just silently decide to let the banks write all those loans off, forgiving billions while the majority of older student loan holders with a proven track record of paying will keep paying? While making it look like the democrats are the good guys? It doesn't look like they are rhe good guys to me it looks like they are bailing out banks again, this time before their failure has been exposed. I need to know more about this.

You can say my country is going to hell and that it's full of shitskin arabs, but it doesn't matter because if America goes down so does Europe anyway.

TL;DR: Read only if you care about student debt and the politics surrounding it.

Mine got forgiven so I don’t really care, I wasn’t planning on paying it back in the first place.

Still not paying my loans.

I really can’t think of any other reason they would actually allow them to be forgiven. Well aside from temporarily buying a few votes.

Don't care. Anyone going to college is a certified moron.

Have fun paying the taxes on that retard.
Try not planning to pay those and see what happens LOL

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>It doesn't look like they are rhe good guys to me it looks like they are bailing out banks again, this time before their failure has been exposed.
I think it's this, too. it's just another grift, but it's easier to hide; they can blame it all on COVID, anti-vaxxers, GOP chuds, anti-black racism, etc. things are getting bad because the boomers all wrote checks that it was the millennials' jobs to cash, and it hasn't been working out too good. it's only going to get worse. boomers are spiritually niggers.

Larperino

Yes they’re bailing out the banks because nobody will want to pay when the payments begin again. In fact they likely can’t afford it now. This plan only helped a small group mostly negros. It will only create more problems for anyone dumb enough to go to college especially a big name kikeversity

I’m thinking about a 50v battery plug in for your car or truck like a dewalt drill battery that would go 20 miles and was replaceable

There's no way any government in the US is just going "forgive" loans without a catch. The default rates on loans were already skyrocketing even before the scamdemic and once that BS started and people got used to not paying them I think the writing was on the walls for the banks. People were not going to pay these loans back, no one is going to choose to pay a student loan if it means they go without food or paying rent. They got too used to spending everything they have since deferrals started. If the banks know the actual borrowers can't pay them back then the only solution is to have the government pay them, and the only way they do that is taxing. Now we have this fucked up system where we still have to pay upfront for college, taking on debt and of course paying plenty of interest, and then hoping the loans get forgiven. It's great because even if you don't go you have to pay now anyway. What a beautiful country.

This isn't fair to anyone except the banks whom get to get rid of their highest risk liabilities

>This isn't fair to anyone except the banks whom get to get rid of their highest risk liabilities
Bingo.

>are they bailing out the private portion of loans too?
no, only federal loans
>Are these loans posing a systemic risk to the banks?
no
>Did the government just silently decide to let the banks write all those loans off,
No they're going to use tax dollars to pay for it. It's federal loans.
>While making it look like the democrats are the good guys?
Yes. QE + shutting down economies + stimulus packages caused inflation, they want more of it not less.
>if America goes down so does Europe anyway.
Most of the world does.

You should know they're only offering to forgive $10k per borrower, or $20k if you had a pell grant (pell grant is free money for college if you make below a certain income)

>This isn't fair to anyone except the banks whom get to get rid of their highest risk liabilities
No. Loans are already guaranteed by the government. Private loans are not being forgiven.

>flag
why do you care about our domestic political issues?

Why the fuck shouldn't I care? America is a 15-30 year (mostly) cultural leading indicator of what comes here, unfortunately. Hopefully we don't end up with these extremly predatory loans, but i think we might do as the demograpichs get worse here.

they're not as high risk as you might think. while boomers were sleeping, the clinton admin passed a law that made student loans immune to discharge by bankruptcy. you cannot escape them except by suicide. many vendors may lose money on student loans but it's trivial for them to sell them off to predatory collections agencies and make back most of their money. they will still turn a profit on most loans that were partially paid off.

>extremely predatory
It's a 3-6% loan for an investment. They're even subsidized so interest doesn't accrue while you're studying. If this is predatory then so are mortgages