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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: MinorityRepublican

“Just don’t pay it. Hit the bricks. En masse,” Twitter user Derek Van Dyke wrote”

Just goes to show it doesn’t take smarts to get into college, and you will exit even dumber as in the case of Derek.


41 posted on 07/02/2023 3:49:25 AM PDT by DAC21
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To: MinorityRepublican

There’s no sense of honor among Americans any more. Disgusting.


42 posted on 07/02/2023 4:02:05 AM PDT by MayflowerMadam
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To: Secret Agent Man

“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.”

Well put.


43 posted on 07/02/2023 4:06:06 AM PDT by MayflowerMadam
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To: newzjunkey
“Several months” when Trump started the pause in May 2020 and it’s July 2023, that’s about 38 month ago.

More than three years. No payments, no interest. Grifters.

44 posted on 07/02/2023 4:06:52 AM PDT by NautiNurse (Don't be obtuse)
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To: Secret Agent Man
And they think they have the moral high ground over the rest of us who did work and pay off our loans.

While they order a double shot skinny soy latte on their new top-of-the line iPhone.

45 posted on 07/02/2023 4:14:13 AM PDT by NautiNurse (Don't be obtuse)
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To: Revel
And there would be no more student loans unless the government put up the funds directly.

Do you realize what you just said? Think about it. Who would be putting up the funds???

46 posted on 07/02/2023 4:37:01 AM PDT by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: Jonty30
It would fix student loans for good and leave universities without sucker first year students.

Do you realize that the Federal Government is the only entity in the United States making student loans today, due to an Obama administration initiative. Grandparents can mortgage their home to pay for college education, but the only one making loans explicitly to pay for college is Uncle Sugar. Biden was not proposing forgiving grandparents second mortgages, only "student" debt held by the United States government.

47 posted on 07/02/2023 4:37:38 AM PDT by Lonesome in Massachussets (If Kitty Genovese had a gun, she’d be in jail today.)
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To: newzjunkey
Imagine if we had no credit card or other debt interest during that time? How much would it have saved Americans?

In the case of student loan payments, zero, since the debt is almost exclusively owed by Americans to Americans. At the end of the day, the government has no independent source of wealth, and can only redistribute our wealth. (Do not confuse "money" with wealth. Printing "money" is a form of wealth redistribution.)

48 posted on 07/02/2023 4:42:39 AM PDT by Lonesome in Massachussets (If Kitty Genovese had a gun, she’d be in jail today.)
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To: windsorknot

The debt is at least largely in part the evil cabal between govt loans and “liberal” institution raising tuition rates way beyond what was reasonable. Supply and demand. Universities had the supply, “you need a degree to be success”, tell that to my sons who are lineman), govt supplied the ever increasing amounts and there you go
Now I don’t let the students off the hook, many who spent tens of thousands if not hundreds of thousands on worthless degrees like ancient Egyptian lesbian art studies degrees or any degree that ends in studies. They signed on the dotted line, and these bastions of anti-capitalism were all too happy to take the money knowing full well they would never earn enough to pay it back


49 posted on 07/02/2023 4:43:50 AM PDT by blitz128
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To: jimtorr

A question on every job application should be regarding student loans by asking the applicant whether they have any outstanding loans. This is then verified along with their payment progress/history. If the applicant lied on the application by answering “no”, then the applicant is denied the job. If the applicant hasn’t been paying the loans back, the applicant is again denied the job for that reason.
Yeah, welch on the loan and let me know how that works out for you.


50 posted on 07/02/2023 4:45:17 AM PDT by Smber (The smallest minority is the individual. Get the government off my back.)
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To: Maris Crane

Banks do not hold the debt in question, the Federal Government is the creditor. Obama had the Federal Government take over the student loan business, knowing full well that scenarios like the current mess would eventuate, and give Democrats an issue to demagogue the hell out of. Not even in his wildest dream could he have seen anything as juicy and ripe for demagoguery as this.

The irony is that student load forgiveness is a form of wealth transfer from the poor to the rich, the exact opposite of what they would have you believe.

https://nypost.com/2023/07/01/alessandra-biaggi-mocked-for-complaining-about-student-loans/


51 posted on 07/02/2023 4:48:49 AM PDT by Lonesome in Massachussets (If Kitty Genovese had a gun, she’d be in jail today.)
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To: Reno89519

Basement dwellers don’t need credit.


52 posted on 07/02/2023 4:50:46 AM PDT by cnsmom
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To: MinorityRepublican

Classic Obama chickens coming home to roost moment. Obamacare made student loans a government monopoly. Thirteen years later, a entire generation of Obama addicted student borrowers will be bankrupt and ruined for life. That’s karma baby


53 posted on 07/02/2023 5:02:20 AM PDT by DeplorablePaul
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To: MinorityRepublican

Would they say the same about our tax bills? How would that work out?


54 posted on 07/02/2023 5:04:04 AM PDT by P.O.E. (Pray for America.)
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To: MinorityRepublican

Journolistic mal practice

The writer badly needed something positive to dredge up in rebuttal to the loss


55 posted on 07/02/2023 5:04:14 AM PDT by bert ( (KWE. NP. N.C. +12) Joe Biden is a kleptocrat)
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To: jimtorr

Congress can authorize billions and billions for Ukraine but....just sayin.


56 posted on 07/02/2023 5:10:57 AM PDT by reviled downesdad (Some of the lost will never believe the Truth and hate you for it.)
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To: MinorityRepublican
a really effective message and f*** you to this country . . . Twitter user Derek Van Dyke wrote.

Van Dyke sounds like one of the diaper sh!tting dictator's pantifa democRATs.

57 posted on 07/02/2023 5:19:17 AM PDT by DaBroasta ("An armed society is a polite society" Heinlein)
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To: Maris Crane

Banks don’t do student loans. The federal government does.


58 posted on 07/02/2023 5:23:04 AM PDT by meowmeow (In Loving Memory of Our Dear Viking Kitty (1987-2006))
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To: jimtorr
I would tell them to go ahead and default, and good luck repairing your credit afterwards.

Exactly right! A friend has a relative who just a few weeks ago applied for a mortgage. Guess what came up.....unpaid $65,000 student loans. Mortgage denied.

Defaulting en masse is a good way for them to remain renters for their entire lives, en masse. Idiots.
59 posted on 07/02/2023 6:00:33 AM PDT by Shannon
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To: Taxman

Ping


60 posted on 07/02/2023 6:02:53 AM PDT by Taxman (SAVE AMERICA! VOTE REPUBLICAN IN 2023 AND 2024!)
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