Boycotting student loans: 1 in 10 borrowers
refusing payments, report says
Cleveland Plain Dealer,
by
Zach Mentz
Original Article
Posted By: OhioNick,
1/25/2024 10:19:31 PM
The pause on federal student loan payments ended in October 2023, but many of the 43 million borrowers who owe a collective $1.7 trillion are still struggling or outright refusing to submit payments.
In fact, the majority (60%) of student loan borrowers have missed payments since the pause ended, including 35% who have made some payments and 25% who haven’t made any payments, according to a report from Intelligent.com.
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Reply 1 - Posted by:
Catherine 1/25/2024 10:32:07 PM (No. 1644595)
Do they know their checks can be garnished to pay for these loans? And it doesn't look nice on their credit report.
27 people like this.
Reply 2 - Posted by:
padiva 1/25/2024 11:10:40 PM (No. 1644607)
It will be too bad when they want a car loan or a mortgage.
Credit worthiness is priceless!
21 people like this.
Reply 3 - Posted by:
Trigger2 1/25/2024 11:28:00 PM (No. 1644608)
Groffers. That's what they are and entitled to boot.
8 people like this.
Reply 4 - Posted by:
wilarrbie 1/25/2024 11:31:25 PM (No. 1644611)
Waitin' on Jenerus Joe to bail 'em out. Money for votes, and yer checks are free.
18 people like this.
Reply 5 - Posted by:
JimBob 1/26/2024 12:17:14 AM (No. 1644616)
Does it just seem that way to me, or does everything related to finances that the Federal government touches turn to feces?
It seems that the Congresscritters and this administration love to give the taxpayers money away.
-A few Billioins here, a few Billions there, spending it like water.
-Federal government debt 34,000,000,000,000, and going farther into debt by a Trillion dollars every 100 days or so,
-Social Security predicted to go broke in what.... another 5 to 10 years?
-National Flood Insurance program
-National trade deficit
It seems to me that the Federal government should never have gotten into the student loan program, and now this administration is turning it into another vote-buying scheme.
Loan 'forgiveness'? No, debt TRANSFER, putting it onto the overloaded shoulders of those who pay their bills and PAY THEIR TAXES!
-Student loan program
14 people like this.
Reply 6 - Posted by:
skacmar 1/26/2024 12:47:58 AM (No. 1644622)
So about 20% never plan on paying their student loans back as some sort of protest. Another 9% don't know how to make payments? Sounds like 9% were too dumb to have actually gone to college if they can't figure out how to pay a bill. As for the rest who are crying that it costs too much to pay the loans back; grow up and make some tough choices. Stop going out and spending like a drunken sailor and set priorities to meet your financial responsibilities. You are not children anymore. Stop acting like one.
13 people like this.
Reply 7 - Posted by:
DVC 1/26/2024 1:11:50 AM (No. 1644626)
Garnish wages, confiscate bank accounts. The usual stuff.
17 people like this.
Reply 8 - Posted by:
bighambone 1/26/2024 2:09:13 AM (No. 1644650)
The way it has been going, chances are Biden will cancel all the loans of the borrowers who refuse to pay their loans off. That’s a sure way to buy votes.
7 people like this.
Recover it by eminent domain from the huge endowments of the rich colleges/universities which charge so much tuition. The rampant inflation and the affordable housing crisis (caused in part by the open border disaster) make everyday living one of choices. I blame the ridiculous policies of ridiculous and stupid Congresspeople. They they are doing good things and they destroy our country.
7 people like this.
Reply 10 - Posted by:
Philipsonh 1/26/2024 4:39:13 AM (No. 1644661)
Send the overdue loans out for collection. That is what is supposed to happen.
10 people like this.
Reply 11 - Posted by:
mifla 1/26/2024 4:48:34 AM (No. 1644668)
Turn the loans over to Tony Gazzo.
Repayment should only take one visit.
7 people like this.
Reply 12 - Posted by:
Socio 1/26/2024 4:56:02 AM (No. 1644673)
I don't think they are boycotting, it is more like they are finding out that all those fancy named super expensive degrees which were made so easy to obtain are worthless in the real world.
Now they are stuck making minimum wage if they can even get a job at all so can't pay their loans.
9 people like this.
Reply 13 - Posted by:
Strike3 1/26/2024 5:24:45 AM (No. 1644689)
They are correct in thinking that their degrees or course work to date is worthless but they still owe the money. I would assume that most of them are not employed.
7 people like this.
Reply 14 - Posted by:
petrichor 1/26/2024 6:16:58 AM (No. 1644721)
Adopt the education practice of Germany. Free college. That is, identify early (high school) who is eligible for a university education. The government pays for the education, deciding how much will be spent for it! The rest of the youth will have alternative training. Yes, society pays for it, but we won't be subsidizing teen parties.
4 people like this.
Reply 15 - Posted by:
franq 1/26/2024 9:26:58 AM (No. 1644804)
Try refusing to pay your property taxes. See how long you stay in your home, even if it's paid off.
3 people like this.
Reply 16 - Posted by:
red1066 1/26/2024 9:28:42 AM (No. 1644807)
One in ten decided to ruin their credit for decades to come. I guess their plan is to live with mom and dad until they're gone. However, since the college degree they received isn't worth the paper it's printed on, even if they paid their loan, they wouldn't make enough money to live on.
3 people like this.
Reply 17 - Posted by:
3XALADY 1/26/2024 9:44:40 AM (No. 1644835)
Do you really think anything will happen to the ones who aren't paying their loans? I don't. No one has the gumption to do the paperwork to get that done. I remember when Zippy moved the college loan program into the government and figured then this would be the outcome.
2 people like this.
Reply 18 - Posted by:
snowoutlaw 1/26/2024 9:52:53 AM (No. 1644851)
I doubt anything will happen to them, if their credit score is affected someone will sue and saying its racist. What will happen is future loans may not be available or maybe only for some majors.
2 people like this.
Reply 19 - Posted by:
Venturer 1/26/2024 10:27:59 AM (No. 1644884)
Stop student loans,
If they want a loan for college get it from a bank.
4 people like this.
Reply 20 - Posted by:
Geoman 1/26/2024 11:45:16 AM (No. 1644931)
Many of these "students" are more like the 1979 Iranian "students," who helped take and hold American diplomats and embassy workers hostage during the Carter administration. They did not go to class to advance their learning, enhancing their earning potential, as much as learning to hate America and joining in protests calling for the genocide of Americans and our allies. I was offended when a co-worker remarked that I was a 'professional student,' as I spent years slogging my way through grad school; however, I never took a single student loan but worked my way through college policing some pretty mean streets within the DFW metroplex. Afterwards, with the benefit of a little upward job mobility, I put three of my kids through college without them taking out any loans or seeing them graduate with crushing debt. Taxpayers owe the indebted "students" exactly nothing, as they failed to understand the basic economics of borrowed money requiring re-payment. Biden has changed the terms of student loan contracts to negate the pay-back part by way of voting democrat.
2 people like this.
Reply 21 - Posted by:
TruthFetish 1/26/2024 3:06:54 PM (No. 1645106)
What #14 said.
Also: The 90% who DO pay are the fools, since 90% of the cost goes to overpaid leftist woke-mantra lecturers plus lavish dorm suites enticing the mind-numb, with no consequence.
1 person likes this.
Reply 22 - Posted by:
Drumie 1/27/2024 12:07:53 AM (No. 1645318)
If Biden is going to forgive student loans, I want a refund. I paid off my loan.
1 person likes this.
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The numbers in the article are shocking.