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Student loan borrowers told to default "en masse"
Newsweek ^ | 6/30/23 | MATTHEW IMPELLI

Posted on 07/01/2023 10:54:59 PM PDT by MinorityRepublican

Some student loan borrowers encouraged others to default on their loans "en masse" following the decision by the U.S. Supreme Court to cancel President Joe Biden's student loan debt forgiveness plan, but one expert told Newsweek why that may not be a good idea.

"Okay, thing I can actually talk about: Mass default on student loan debt would be a really effective message and f*** you to this country from the folks most impacted by our constant slide backwards. Just don't pay it. Hit the bricks. En masse," Twitter user Derek Van Dyke wrote.

On Friday, the Supreme Court reached a 6-3 decision to side with Republican-led states and cancel Biden's student debt forgiveness plan, which sought to cancel up to $10,000 in debt for borrowers with an income of $125,000 or less and up to $20,000 for Pell Grant recipients.

Payments on student loan debt have been paused for several months dating back to former President Donald Trump's administration. However, under the recently signed debt ceiling legislation, payments are set to resume in October and interest on the payments will resume in September.

(Excerpt) Read more at newsweek.com ...


TOPICS: Business/Economy
KEYWORDS: bidenlies; bidenomics; bribinomics; credit; deadbeats; default; parasites; studentloans; thieves
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To: Jim Robinson

Sadly true. If I’m not mistaken, upwards of 35% are all in.


21 posted on 07/01/2023 11:49:33 PM PDT by Gene Eric (Don't be a statist!)
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To: TigersEye

Exactly.


22 posted on 07/01/2023 11:52:22 PM PDT by cabojoe ( 🇺🇸 Stop Ukie censorship. Release Gonzalo Lira)
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To: MinorityRepublican

If credit scores don’t matter, go for it. Maybe that will be Biden Plan C to get credit scoring companies to ignore student loans.


23 posted on 07/01/2023 11:55:05 PM PDT by Reno89519 (DeSantis 2024. Successful Governor, Honorable Veteran, Respectful, Respected.)
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To: MinorityRepublican

Gimmedats.

Demanding others pay off their voluntary debts.

And they think they have the moral high ground over the rest of us who did work and pay off our loans.

Amazing they aren’t at all angry at the universities.


24 posted on 07/02/2023 12:00:13 AM PDT by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: MinorityRepublican

s I understand the student loans owned by the feds, thanks to obamacare, are not forgivable .

The again. Democrats don’t five a s even with their own laws.

FYI. Now that I am near 60, I am doing everything in my power to collect every single welfare benefit until I die. I don’t give a crap anymore. I will work just enough to fund my hobbies while at the same time collect every welfare program available I am sick of this crap. I worked 82 hours this week. no more,


25 posted on 07/02/2023 12:00:45 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: jimtorr

can you default on student loans?....I thought you could not...


26 posted on 07/02/2023 12:27:26 AM PDT by cherry
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To: MinorityRepublican

I bet none of them even considered that “forgiven debt” is actually income in the eyes of the IRS and therefore taxable income.


27 posted on 07/02/2023 12:48:44 AM PDT by Gaffer
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To: MinorityRepublican

28 posted on 07/02/2023 12:51:29 AM PDT by Krosan
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To: jimtorr

Banks are truly unforgiving when you try to “punish” them by not paying back what you owe them.

Interest on loans and service fees are banks’ only source of revenue.

Whoever gives advice to default is NOT being your friend.


29 posted on 07/02/2023 12:55:47 AM PDT by Maris Crane
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To: MinorityRepublican
"Just don't pay it. Hit the bricks. En masse,"

Is that collusion or insurrection?

30 posted on 07/02/2023 1:06:37 AM PDT by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: jimtorr; BobL

“I would tell them to go ahead and default, and good luck repairing your credit afterwards.”

You are delusional.

Student loan debtors are a core Democratic group. They will be protected.

You are assuming they will be treated like a conservative group that deliberately defaults.

Did you not notice the differential treatment of 2020 rioters vs Jan 6 people ?


31 posted on 07/02/2023 1:30:08 AM PDT by Reverend Wright ( Everything touched by progressives, dies !)
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To: Secret Agent Man

Gimmedats.

Excuse me....its Givemethats...
They ARE college educated, you know...

:]


32 posted on 07/02/2023 2:27:29 AM PDT by Adder (ALL Democrats are the enemy. NO QUARTER!!)
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To: MinorityRepublican

Liens against them for life!!


33 posted on 07/02/2023 2:41:49 AM PDT by MadMax, the Grinning Reaper (Figures )
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To: jimtorr

They have 12 months to play the game. Biden put into place a forbidden rule that companies cannot send to collections for 12 months or effect credit scores.


34 posted on 07/02/2023 2:50:30 AM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: MinorityRepublican

I thought the problem is that they already mass defaulting on their loans.


35 posted on 07/02/2023 3:10:01 AM PDT by fella ("As it was before Noah so shall it be again," )
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To: MinorityRepublican

I do feel a bit bad for people that get loans and expect a job. During classes, they keep saying ‘this can’t be outsourced’ and this and that.

Then when you’re done the same types go ‘JOBS FOR YOU? LMAO’

‘STEM? Indians do that, whatever!!!’


36 posted on 07/02/2023 3:14:42 AM PDT by NotWokeOrCommie
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To: Reno89519

But will defaulting on their student loans effect their “Social Credit Score”?


37 posted on 07/02/2023 3:16:43 AM PDT by fella ("As it was before Noah so shall it be again," )
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To: Reno89519

Only suckers work in this country. And the biggest suckers of all get STEM degrees and end up at starbucks or a home depot cashier. That’s life here. That is reality.


38 posted on 07/02/2023 3:27:05 AM PDT by NotWokeOrCommie
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To: TigersEye
“Go ahead, skin that smoke wagon and see what happens!”

Excellent movie, by the way.

39 posted on 07/02/2023 3:32:38 AM PDT by MikeSteelBe (The South will be in the right in the next war of Northern aggression.)
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To: MinorityRepublican

The entitlement crowd at its best. Kill power to their basement hideouts and they’ll self implode.


40 posted on 07/02/2023 3:44:40 AM PDT by maddog55 (The only thing systemic in America is the left's hatred of it!)
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