I was pre-covid, but rn I can’t conceive of a world where I’m actually about to cut these vampires a check

  • axont [she/her, comrade/them]@hexbear.net
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    1 year ago

    I took a look at mine and saw I’m accruing $117 of interest per month. Absolute vultures, I swear.

    I’m waiting for a hilarious wave of defaults to sweep the nation. It should have been obvious that was gonna happen. I’m hoping it’ll have a similar effect to a general strike.

    • balloflearning@midwest.social
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      1 year ago

      I hope you are wrong but it does feel like adding student loans back into the equation is going to put a significant financial burden on a demographic that is already struggling to accumulate wealth.

    • SkeletorJesus [he/him]@hexbear.net
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      1 year ago

      How do you even default on a student loan without becoming a dependent? I was under the impression they could take it directly out of your paycheck and it couldn’t be dismissed as part of bankruptcy.

        • the_itsb [she/her, comrade/them]@hexbear.net
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          1 year ago

          It’s not that they don’t do it because it takes effort, it’s just a long process for them to get there. I have personally known someone whose paychecks were being garnished because they defaulted on 5-figure student loan debt, but he said that he ignored calls and letters for years and then ignored months (maybe even a year plus?) of court summonses to get to that point.

          I was helping his wife fill out IBR paperwork and offered to help him with his and found out he had to be in this forced repayment for some period - couple years? idk this was ~10 years ago - before he could even apply for anything like that.

          It’s an evil trap, and they really will come destroy your financial life.