For All The $$$ Degrees, Huge Chunk o' Student Loan Borrowers Still Dumb as a Box o' Rocks

I almost – ALMOST – didn’t write about this because listening to the whining of these people was so Gott-danged painful, I was near the end of my tether.

But then I remembered two things – pain is best shared, and I have y’all.





YOU WIN!

Actually, though, I think I’m performing some sort of public service by publicizing how intellectually barren the squishy grey brain matter swishing around the voluminous craniums of a fair majority of college types who owe money on their student loans is.

It offers an explanation of why progressives act as they do, for one thing, and why people so readily believe the AOC and Bernie snek oil salesmen of the world, and the ‘Maryland Man‘ type fairytales they peddle.

All through the POTATUS years, there were get-out-of-dun-territory schemes aplenty floated using COVID as a cover to buy student loan borrowers’ votes with ‘forgiveness.’ So benign, so caring, the Democrats thought to wrap millions of new voters in their tender tentacles by wiping out legally incurred debts under one cleverly disguised give-away after another.

Yeah, plenty of them were shot down by the Supreme Court, but plenty got through the cracks as well. There were federal workers being handed payoffs along with teachers and others – they found all manner of workarounds. 

By January of this year, in the waning days of the Biden White House, the total of bought-off debtors at taxpayer expense was mindblowing, especially when you think how much worse it would have been had SCOTUS not crimped his Lord Bountiful act.

More student loan forgiveness on his way out the door, wwweeeee!

Since Biden took office, he has forgiven debt for more than 5 million federal student loan borrowers, totaling $183.6 billion in relief.





Through it all, borrowers had multiple fits and starts of hoping it was their turn to catch the brass ring. Being denied, whining and gnashing their teeth, railing against the cruelty of life, and then lather, rinsing and repeating as the musty old corpse promised relief all over again, and they fell for it. 

At no time during the Sturm und Drang was interest accruing, payments required, or were there any adverse reports going to credit agencies for non-payment.

CHA-CHING

You’d think that it might be a perfect time to start making some progress on a loan and knock the balance down, basically free of charge.

But, no. That’s not what these people did. What monies should have been their student loan payments became additional monthly income they were soon loath to part with.

And expectation of government release from, again, a voluntary and legally incurred debt morphed into a God-given right up there with freedom of speech and the press.

These were bad habits to fall into, but this is also an extraordinarily self-centered and overindulged group who believe that if they say something, the utterance makes it so.

 As both a mercy and a warning, the Biden administration afforded these infants a twelve-month, penalty-free grace period to get their act together. That ended in October of last year, and the ‘payment due’ clock restarted on loans.





By this March, which coincided with the 90-day-past-due mark, it was obvious people weren’t back in the swing. And the numbers were growing.

…Now, the numbers are just starting to come in for how many student loans are already behind.

Around 9.7 million student loan borrowers became past due on their bills after the Covid-era payment pause expired, according to a new estimate by the Federal Reserve Bank of New York.

All those degrees, so little responsibility or common sense.

So much money wasted on so few brains.

The days of ignoring the letter in your mailbox are rapidly drawing to a close, too. As of May 5, Secretary of Education Linda McMahon announced that the government will resume collections on defaulted student loans.

What that translates to is the federal government actively recouping what’s been borrowed through tools such as wage garnishments or garnishing tax returns.

It’s quite a shock to those in a system that’s been somnolent and benign for years, lulling many borrowers into believing their loans were as good as gone.





Borrower advocates are warning about the potential for confusion and chaos as the Department of Education prepares to start forcibly collecting on defaulted student loans for the first time in five years.

Secretary of Education Linda McMahon announced this week that the agency would resume mandatory collections next month, ending a pause that’s been in place since the beginning of the pandemic. In doing so, the government will be dusting off vast legal powers to recoup unpaid education debts that include the ability to garnish wages and withhold tax refunds as well as Social Security checks.

While many outside experts have acknowledged that the collections process needed to resume at some point, they’ve warned that recent upheaval within the Education Department and student lending program could end up creating new problems for borrowers, many of whom may not realize they still owe their debts after years of not having to pay them.

There are currently more than 5 million borrowers with loans in default, who will be immediately affected by the restart. Millions more Americans are expected to fall deeply past due on their student debts in the coming months, with a large bulge in the fall.

The wig-out videos have been epic. 

I’ll just put the NSFW warning right here above all these, because even if there’s no swearing, the overwhelming sense of entitlement and pathetic keening will cause you to do so.





God bless.

LOSER IN LIFE SAYS: YOU CAN’T GARNISH WHAT ISN’T THERE

And this fetching young legal scholar weighed – or is it ‘whined’ – in.

And MAGA can come tell me where I went wrong because none of you have student loans because none of you went to college.’

And the best example of rational thinking one learns by having earned an expensive higher education degree:





TRUMP NEEDS FACTORY WORKERS

Holy smokes.

And ERMAGERD! Won’t anyone think of the economy!

Yes, there are significant issues with ‘student loan’ programs, and, hell to the yeah – first and foremost, colleges should have significant skin in the game and the government should have none.

Right here, right now, the issue is voluntarily signing a legal and binding agreement for a product you have received and then reneging on the contract.

I don’t owe that freight, and neither does my neighbor.





You May Also Like

This Week in Tesla Vandalism

Last week in Minnesota a state worker named Dylan Bryan Adams…

WEF: Klaus Schwab Is a Crook!

Who could have guessed that Klaus Schwab was a grifter? Not…

Michelle Obama's Tirade On Barack Divorce Gossip Proves She's In Her IDGAF Era

Elijah Nouvelage/Getty The concept…

Visas cancelled in dramatic India-Pakistan escalation after deadly attack

India and Pakistan have cancelled visas to each other’s citizens amid rising…