Americans ~~struggling with student debt~~ expect ‘much worse’ under Trump
There won't be a single thing that improves for people who aren't either fascists or rich.
this post was submitted on 29 Dec 2024
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The Trump voters beginning to realize the consequences of what they have done to themselves might be funny if they hadn't also done the same to me.
College educated voters were predominantly Harris voters though. Loan forgiveness was extremely unpopular with the non college crowd.
That's to be expected.
IMHO direct interest issues and pure ideology issues should be equally present.
When stats show such a close alignment of position with direct interest issues, but not so much with ideology, it means things suck and can ultimately devolve into something like Lebanese politics (without bombs). Or devolve from imperfect two-party democracy into something like early 00s Russia.
Yep. If only they and the protest voters (because "genocide Joe" 🙄 ) were the only ones that had to sit in the mess they've made.
The problem is, they shit the bed and we all have to put up with it.
they shit the bed and we all have to put up with it.
Leftists have been saying that about Democrats for decades.
why should we pay, again?
So it seems if it comes before the supreme court and they think you are willfully not paying, they can imprison you: https://www.npr.org/2014/05/21/313118629/supreme-court-ruling-not-enough-to-prevent-debtors-prisons
That’s about court and government fees and fines, not student loans. Idk if the two would be in any way related but I see nothing in the article that supports this for student loans specifically.
Do you have anything that does reference student loans?
I’m on an IDR plan (no idea which one at this point, no idea what’s going on with any of it because they keep throwing it into forbearance..)
I don’t make enough to pay it, so after the first year when I got set up with IDR, I haven’t paid a penny.
I graduated with like $17k in debt, and less than a decade later it’s like 30k. I have no intention of ever making another payment. No point. I’d never get through the interest anyway.
Its... Income based... As much as I hate loans of all the loan options its the easiest for many people because you only have to pay such a small fraction of your income to repay it 5-10% most common... And if you're compliant, they forgive it anyways after 20 years.
I didn't take that option but many of my friends did. Also, anyone taking out loans whether it be house, car, etc I believe should know what terms are and select what works best for their life.
know what the terms are
Most people dont know what the terms mean, let alone the terms on their actual loan. When i bought my new car, i paid less than $300 in total interest across the 4 year loan. Understanding those financial terms is so beneficial. We really need to teach it better to high schoolers
Very good point. I was fortunate enough to take a finance class in high school and be very vigilant, so theres some privledge there.
I think its been said like 1/3 people aren't financially literate both in US and globally in general.
Yeah, I know it’s income based. That’s why I haven’t made enough to pay it.
What I mean is there were several income-based options, and idk which one I’m on or was on, and idk if that’s still the case because I’ve chosen to do absolutely nothing with my student loans beyond what I’m specifically required to do (was hoping for forgiveness to go through but that didn’t happen). So I’ve only had to file one proof of income form, for example, even though it should have been yearly.
I knew the terms at the time, but it’s been a while so meh.
Because POS like Biden helped write provisions in a bankruptcy bill that allows Social Security to cut benefits for unpaid student debt.
What's the percentage of debt forgiven, something like .01%?
Absolutely nothing has changed for a majority of debt holders.
$175 billion in debt relief among 4.8 million borrowers. That is out of 42.2 million borrowers representing $1.6 trillion in debt. That's a good start in my book.
But Democrat bad!
I wonder how many stayed home, voted third party, or outright voted for donvict.
Biden screwed the pooch on this one. Don't promise something like this that you can't - or know you won't - deliver.
"But he thought he could and met with unanticipated partisan resistance", you say.
Really? You surround yourself with the smartest, Ivy League educated staff and cabinet picks and none of them anticipated that and/ or alerted you to the eventual legal and political roadblocks.
Not buying it. Almost impossible that this outcome was not predicted.
Add the reversal of bodily autonomy, the expiration of the child tax credit and a host of quality of life downgrades and you're losing voters.
I believe abortion should be legal. Guess I have to vote Republican from now on.
Yep sounds reasonable
Borrowers expect Trump to scale back or eliminate relief programs
"Why would Biden do this?"
Instead of breadlines we'll have people forced yo line up to be searched for personal processions to contribute to the economy with.