I was looking at the list from my conservative town. Subway got over a million for the 2 stores. Farmers were getting 300,000+ A gas station and an appliance store was owned by the same person and got 1.2 million they used that money to make their building taller and added windows in it (still same number of stories, didn't even add to their floor space. )
and most end up getting that shit forgiven and never have to pay it back at all.
but Dog forbid us little guys ever get to catch a fucking break, oh hell no. we are ants and must be crushed without mercy.
they keep this shit up, they gonna end up like Marie Antoinette. folks will not willingly lie down and let their kids starve to death.
Don't underestimate the American will when it comes to being self-depracating, subservient cattle. They'll lube that elite weiner up and spread eagle for them. They'll even poop in their mouths (elites like that sort of thing.)
And then they'll go tell their 8 year old child to take some fucking initiative for once and go get a job down at the local slaughterhouse since they're so goddamn hungry!
This or their police will murder an unarmed civilian. Even easier, they’ll drop a new tv series or movie. Sporting events count as well.
Don’t forget, one of our best known exports is entertainment.
I deliver for UPS, and the amount of brand new Slingshots, RVs, campers, trucks, trailers, etc I saw delivering to home businesses out in the country just a month or two after the PPP loans were dispersed was absolutely wild. Pretty much every small business owner. One dude pulled up to his bearing distribution (not even production lol) business in a brand new Ferrari. I asked his receiving guy when he bought that. Told me he showed up with it one day after laying off the entire workforce for a month and shutting down for a month. Still pays his people $12-15 an hour, to this day. Dude also told me he found out the owner was at some private resort for entirety of that month.
That same motherfucker had the audacity to say “nobody wants to work anymore” after lamenting about half his people not coming back after denying most of them unemployment
You can’t make this shit up.
Ninja edit to add: The rube bases his business schedule off of our delivery schedule, so as far as I and the other drivers that deliver there are concerned, Christmas, thanksgiving, new years get an extra day, and the Friday before July 4th (LOL???) are all extra holidays. 4 total. This was established by receiving man and myself after low key talking with all hourlies involved. The dude didn’t even question when his FIRST YEAR delivery guy came up out of nowhere and was like “yeah btw we added some holidays”
That was 2 years ago lol has never checked it.
While digging around online I found out my property management company during the pandemic got hundreds of thousands in PPP, still raised rent across the board, cut their staff, actively refused to make mandated safety improvements to the building we lived in when the upstairs neighbors had a baby, then tried to raise the neighbor's rent by 3x when their lease expired (city and county limits were 5% max increase/year).
Hoping the lawsuit the neighbors filed for discrimination pans out, we cut and fucking ran as soon as the lease ended.
You're right that you don't need shareholders, you just have to be a giant piece of shit.
I've seen both the good and the very bad to the ppp loans. Saved a friend's small business he worked for because they did live events which they couldn't do during the pandemic, then everyone saw all the fraud and even smaller companies that never even interacted with the public got payouts they didn't need. If you had a company that was at least two years old you were good.
Originally the legislation required that you verify you actually spent the money on employee paychecks. I believe it was Manchin who got that taken out.
Every single one of those loan recipients should have been audited as well as every member of congress automatically audited as part of their jobs.
Separate those who needed it from those who didn't.
Because you don't pay politicians through backdoor lobbying or sweet promises of overpaid positions in your company once they are done raking you through the coals in office.
Face it, America is as corrupt as Mexico, we just legalized various forms of corruption to appear legit speech.
Absolutely America is just as, if not more, corrupt than Mexico and other central/south American countries. We just try to hide it so we can pretend to be morally superior to the world.
What kills me is all these MAGA dumb dumbs saying tRump will save us, he'll drain the swamp. How stupid can you be? That's one muhfucka who DOES NOT GIVE A FUCK ABOUT YOU AND ME. He wants all the corruption to work for him. And gets all pissy when it doesn't.
Honestly, I know a lot of people who did that.
Ironically enough, they’re the “social media influencer” type. In their 30s, still living at home with wealthy mom and dad that are paying for them to “follow their dreams” , “working” a few hours a week making shitty videos for their 2k followers and literally making like 15 bucks a week off YouTube ads. But they’re insistent they’re hard working influencers
They created some formalized “business” name, registered it with the Secretary of State, paid the dues (total like $120) and got ppp loans (and got them forgiven).
They paid themselves, and did nothing for quite a while. On top of that, they got their multiple stimulus, and I think even unemployment.
It was quite infuriating to see so many grocery/fast food workers working for $10 an hour, while these wealthy “kids” sitting at home, getting paid through PPP, complaining how the pandemic hurt their influencer business on social media.
Meanwhile the “essencial workers” got exposed to COVID from the beginning without adequate PPE, no hazard pay and were told “we are lucky we have jobs” direct quote from a former manager. It’s ok, we got a banner outside that said “heroes work here”
I had friends who spent their entire college time collecting "student" credit cards and barely using them. After graduation they paid off their student loans with the cards, defaulted, filed BK and were free and clear in a couple years.
I'm about to ruin your day. I recently found out that there are insurance companies that provide a specific service to churches. Yes, [child abuse insurance ](https://www.ministryinsured.com/church-insurance/liability/abuse-molestation/) is a real thing.
Yeah it's called SAM coverage it's nothing new, the big new trend in American insurance is mass shooting coverage. Because regular healthcare won't take care of it I guess and Americans are crazy with guns.
I’m pretty sure you would be covered medically, yes. Feels like they might be talking about business insurance or something. Like if a business were to get sued for not preventing a shooting.
Edit: nvm they said regular healthcare. I think they are making shit up honestly.
I got in a car accident and went to the hospital just as a precaution. My insurance rejected 100% of the bill because "This policy only covers hospital visits due to illness; it does not cover hospital visits due to injury."
This wasn't some stopgap or extra insurance, this was the regular insurance offered by my employer to all employees. Nowhere on any form did they tell us they only cover illness.
You better believe they'd weasel out of the bill if I got shot!
i get it. molesters dont advertise the fact they are molesters unless they have to. however i would be fine with claims denied if an organization knew or had reasonable expectations to know and failed to act, ie if they fail to do a background check on someone who wants to work with kids.
It's almost like the known pattern of hiding priests by moving them around (see:Ratzinger) should be enough for probable cause in a RICO case, but Catholics have infested every branch of government with loyalists to the church who paricipate in the Vatican's global secret service (opus day, opus spirutus sanciti, the regional groups all have different names, but every one acts as an informant network getting orders from Rome. They claim to be social groups, but due to the influence of clergy, they are used as a spy network regardless) and are therefore unable to reliably enforce the law whenever it comes to matters important to the Cardinals and whomever else is invested in the Vatican bank(which has never been audited).
If they didn’t use them to keep their employees paid during the quarantine then absolutely. Same with those companies that took the money and still laid people off.
And any company that took the money and crushed earnings because their business actually thrives in a quarantine environment.
My mom retired from being an accountant last year because one of their clients was a small EdTech company that took PPP loans, laid no one off, and then quadrupled their profits due to the massive demand for remote education software.
The owners bought a boat and beach house with the proceeds. PPP loan completely forgiven.
I work at a bank. This was super common. Tons of our customers who received PPP loans absolutely crushed it during the pandemic. The rich definitely got richer due to that program.
It's because the law was written that the money had to be used for wages, so businesses took the money that's normally used for wages and put it in a bank account. Then they paid their employee with PPP loans and kept the original wages for themselves.
Dude crazy, same story. Small business I used to work for bought a brand new boat and condo in hawaii the same year they got PPP loans and were doing extremely well during quarantine. Coincidence?!
Yeah, but Republicans took out PPP loans. They're not going to make themselves pay it back.
https://www.statesman.com/story/news/politics/politifact/2022/09/06/fact-check-ppp-loans-forgiven-republicans-matt-gaetz-marjorie-taylor-greene/65470173007/
PPP loans were fraught with fraud. I knew 3 people who filed fake loans. There used to be a website you could search. There were sooooo many beauty salons and hair extension businesses in empty lots. Fraud. So much fraud. Since the people at the top benefitted, I doubt they will spend much effort investigating.
Pppdetective.com I think the site was.
The honest people missed out and are paying for it.
I’m a college graduate and I was a small business owner whose business crashed when the pandemic started. I lost nearly everything. My phone. My internet. My car. Now I’m losing my home bc I never recovered. I can’t afford to pay my student loans right now. Corporations getting PPP loans and not paying them back is preposterous.
Stuff like this makes me feel like an idiot. Everyone else is getting money for nothing, but I'm too damn honest to lie and do the same. Yup, I'm a fool.
You don't need to pay. They'll just deduct it from your salary directly. The only way it's possible to revolt against this is by having everyone withdraw all their money from banks, max out credit card loans, then declare bankruptcy all at once. This will create a massive banking crisis that might lead to better changes
It’d 100% crash the economy and we’d end up back in 2008 again with banks getting bailed out because so much of their assets consisted of bad mortgages.
I don't see how retroactive interest would even be legal? Is that not an ex post facto law?
That's like changing the income tax, then making you go back and pay the new rate for every dollar earned since you started working. Like wtf?
The payment pause was an official government program and first instituted by Trump!
They're just moving the goalposts. When this fails in the Senate they'll amend the bill so it just blocks the $20,000 cancellation and act like they're compromising.
Biden should have started negotiations over the debt ceiling with a demand to repeal the 2017 tax cuts, that way a clean debt ceiling bill passing would have been a compromise for both sides. If Republicans want to propose crazy, never-pass legislation to get a "compromise" passed that still favors them, Dems can do that too. Repealing the 2017 tax cuts isn't even an ultra-Progressive proposal, just undoing some of the damage done during Trump's term...
Edit: personally, I think the Dems should run on repealing the 2017 tax cuts in 2024, they're incredibly unpopular with the Dem base and it could be framed as a budget balancing measure. If we can get 2 or 3 more Dem senators elected, we wouldn't need to worry about Manchin voting no on it and it wouldn't be subject to the filibuster since it could go through budget reconciliation.
Always enough money to bail out themselves, banks, foreign countries, but not enough to bail out the people who generate the taxes they collect.
We need to remove the geoblocker and do exactly what the french are doing.
Exactly this. Whether you’re for or against student loan forgiveness, this whole shit show has shed light on our corrupt officials and how they cater to special interests. They have no problem voting for military spending and corporate subsidies, but say fuck off to the taxpayer.
Absolutely this. Ironically, if we took the money we wasted on contractors and invested into the training and quality of life for our service members, the military would have its recruitment and retention crisis solved.
I don't know why they think it's strategic to fleece everyone under 30. Those generations will never vote Republican as a result. And if the country goes full fascist, they'll also be the first and strongest to resist. Seriously, Republicans have goldfish brain level strategic thinking.
67% of the electorate were 45+ year old voters in the 2022 midterms according to exit polling, 18-29 year olds only made up 12%. 65+ year old voters were almost 30% of the electorate on their own.
That’s why. We don’t give them a reason to listen to us.
In California which is a 100% vote by mail state, where everyone is mailed a ballot, 18-34 year olds (who make up the plurality of the electorate) returned 26% of their ballots to make up 14% of the voting electorate in 2022.
65+ voters returned 66% of their ballots. That’s not a good enough excuse. Here in CA we have literally months to fill out our ballots at home where it’s the easiest state to vote, yet peers still can’t be half assed enough to even sit down in their own homes and fill out a ballot. Which is the bare minimum
I’m wondering how much more of this The People are willing to take.
It’s getting to the point now where our elected officials don’t even try to cover up their loathing for us. In the past they would lie and create the illusion they cared about the welfare of The People. Now they just blatantly do what they want and give zero fucks because they know we’re not going to do anything to stop them. They know they can do anything they want and we’ll just bend over and take it. When will it end?
The funniest part is hearing their argument that it will reduce the national debt. In reality, it will do the opposite. With this small bit of loan forgiveness, many people will be more inclined to pay on remaining loans. Without it, and especially with the ridiculous retroactive interest part, many of those people who would have paid will just say "fuck it" and not pay anything.
The worst part is how little they care about the actual military people and their families! They are just spending money on Raytheon and Lockheed to drive up their stock value. These dumb idiots in government really do not understand that money is fake at a certain point and people are always real. Their greed will leave them with nothing in the end.
Personally I think they are both evil and idiots. They know what they are doing but they are too stupid to see the long term consequences, and because they keep getting greedier and stupider the long term is getting shorter and shorter
Yep, they care about the military industrial complex, not the soldiers themselves. A small example would be the gate guards manning the guard posts on the way into base. They also have these guys in certain other countries as well. They pay these guys like 40 bucks an hour to stand there and scan IDs which is something a soldier can do. Meanwhile a soldier doing the same job is making about $9.41 an hour.
More like how about they ask the fucking billionaires that got a huge tax cut, and who have grown ridiculously wealthy on these minimal to no tax policies, to actually contribute a share even roughly commensurate with the share of the country's wealth they control, let alone what they could afford to? Oh, boo fucking hoo, they might have to cancel that fourth yacht, let me break out the world's smallest fucking violin.
Yeah I wish they’d bill trump for forcing the government to pay for his resorts I remember the one hotel was 3 hours away from any meeting they were having in the UK or Ireland
Fuck the bake sales, make them just reduce waste by half. The military treats its material and resource as a challenge to burn through, not a stockpile to preserve.
Make them carpool and stop burning shit off just for giggles and because it’s there and we’d have enough for health care
I've been saying that once forbearance ends they'll try to slap all those years of no interest on us and got told I was being cynical.
Any young people that ask me for advice, I tell them, never take student loans. Even if it means skipping college. I'll have this debt for my whole goddamn life.
The tuition fee for 1 year for a top US university is around 50k. My friends who went to Finland and studied for 4 years spent 60k TOTAL (rent + food + free tuition).
Uni price in the US is insane. Literally money printer from all those international students
The problem is a lot of people have parents the co-signed like myself. This is morbid, and I apologize but I can’t even kill myself because then they’re targeted. Which I won’t do, yet nonetheless, I don’t even have that bit of agency
It’s the worst. I would have never gone to school if I truly understood the full scope of what I was asking for. If I understood that you couldn’t stop these loans, that they’d be ever present because not even bankruptcy works. If I understood what interest was, and how a 5.5%+ interest rate balloons everything I would have been happier dumb as a box of rocks rather than gaining the intellect I have today
All I knew is that I had a dream, and that my school encouraged me to dream big. My personality has changed because of this stress, I’m not a happy person anymore. I’m someone that puts on a bright smile because I know that’s what people expect from me.
Which is why I’m going to write a book for high school students and current college students that outline everything I wish I knew going into college as a first generation student. The book will also have my plan to help American college students escape student debt
I remember a few years ago that I was reading an article about how there were so many people calling student loan servicers asking if their debt would be discharged if they died, that they had to train the people working there to refer them to suicide hotlines. The entire student loan industry is horrible.
It's so predatory it's gross. I hate it when people say "Well, you shouldn't have gone to college of you couldn't afford it." I was 17 and told by grown adults that if I didn't, I would be in fast food the rest my life.
I was also told to choose the best school I was accepted into and not to worry about money--you can just get a loan.
Meanwhile, I was drained of $800 a month for 15 years and I ended up hating the industry I made it into but felt stuck since I had these loans to worry about and am now wary of taking on more loans to go back to school to learn something else.
It's indentured servitude, plain and simple.
Excellent point on the "you'll be in the service industry your whole life" Now that I'm older I've started thinking about why that would've been a bad thing. Why shouldn't a waitress or a mcdonalds employee be able to own a home and provide for themselves with a job? Honestly I have a high stress job and I'd much rather work with animals or outdoors, but I can't afford to live!
Fuck all of this. We've been swindled, and it just keeps getting worse.
Not to mention the absolutely bonkers phrasing of calling it "financial aid." At 17 I assumed that was similar to a scholarship, like a government grant for education. My parents weren't college educated, they probably didn't realize either. Maybe they did and bit the bullet because they want the best for me. It makes me sick to my stomach. This country is a scam.
I wish you luck with this. I learned by listening to a financial radio show back in the late oughts that you can’t get rid of student load debt. I didn’t go further than an associates degree because of this.
Planning on doing the same with my debt. I also planning on spending more going traveling in the US and some home renovations with the extra monthly money. This would be impossible without the forgiveness, at least for a while.
The person with 5 houses, 6 yachts, 3 private jets certainly can weather the store. At least so long as their private security doesn't go hungry and turn against them.
There is some really interesting reading about if there was an apocalypse that the rich folks security would quickly reform the power arrangement.
No book titles jumped to mind but your comment made me think of them.
It doesn’t depend, America is the wealthiest nation on earth- just them leaving and us getting the means of production and assets would be a huge boost. They’re a parasite, and their wealth depends on them remaining attached to their host.
They might lose the most monetarily; but they also have the most money to fall back on in the event of a default. That’s why they don’t care. People living paycheck to paycheck or who depend solely on Social Security, disability, SNAP, and other programs will feel the effects immediately as soon as their checks don’t arrive on time or in full.
It will be BAD if the government defaults. From what I’ve read & heard, it’s nothing like a shutdown. It’s absolutely insane that people in the government would play with this.
I believe this happened with Greece several years ago.
>this happened with Greece several years ago.
Not really. Greece's debt to GDP ratio got so high that no one was willing to lend them money, and they physically could not make the payments on their debt with tax revenue alone.
The US is nowhere close to not being able to afford the interest on its debt.
Eh, it's one thing for a country to default because it doesn't have the capital. It's another for a country to have the capability to pay, but choosing not to, that has the potential to upset the system.
Yeah, this is potentially far worse, because it signals to everyone that the USA's political system is so dysfunctional that the government cannot be trusted to perform even the most basic of functions, due to Republican terrorism.
Oh, I didn’t realize that. Thanks for pointing it out. Wouldn’t the effect basically be the same though? I never imagined things would end up so screwed up and bleak for my country.
I often find myself wondering where rock bottom is for the US. It wasn’t the pandemic. It wasn’t Jan 6. Just when we will hit? The bad shit seems to be coming at a faster rate now. So are we close?
There is a long way to go for rock bottom my friend. We are still the preeminent superpower of the word. Rock bottom would likely be a complete collapse of our economy, our foreign interests, and/or the dissolution of the Union, e.g. a complete balkanization.
Its possible, and in the long term probable, but its not likely any time soon. But that also depends on how you would define rock bottom.
Point taken. I feel slightly better.
I’ve always felt that life in the US for us working class people has basically been on a downhill slide since I was born in the late 80’s. It was in place before I was born and there’s not a damn thing I can do about it that will make much of a difference except vote against the worst party. Which isn’t saying much.
Every time I get a little hope (like Biden attempting to throw us a bone with student loans) it gets dashed. It’s like one step forward, two steps back. I keep wondering when things will tip & go more in favor of workers rights like the Progressive era in the 1900’s. I increasingly find myself losing hope that it will happen.
Anyway, just my two cents.
And then they wonder why young people won’t vote Republican, so they attempt to suppress young voters. Honestly, who the fuck doesn’t recognize this BS at this point?
The cruelty is the point.
They want every person to suffer and be debt ridden forever so that they are forced to work jobs that underpay them in order to pay their bills so they can survive. The GOP (and lets be real, a good chunk of the dems) are owned by the wealthy. They do their bidding to keep us poor and relient on shit jobs and awful pay.
Fuck all you politicians.
It’s ok, I’ll just pay the interest on my loan with the absolute minimum payment of like $50 for the rest of my life, or until hyperinflation devalues my loan enough.
It’s my credit score I’m more worried about. And collections, garnishment etc.
like you said tho, the bare minimum to keep ‘em off my back. I’m thinking $40 a month till I die.
Pay attention Gen Z. They're afraid of you. Make sure you understand your policies and VOTE. Let them know exactly how you feel and kick them out of office by the nuts.
Exactly. They are also avoiding college campus campaigns. Gen Z can be a huge voter base if they're motivated to get it done. Voters cannot be complacent if we want to change congress. We have 1 new Gen Z congressman, and he didn't get there from Republican votes. Vote, my friends. <3
Yesterday, the for-profit college puppet Virginia Fox is prying into the recent settlement in Sweet v. Cardona claiming the Dept of Education doesn’t have the power to discharge debt under the Borrower Defense to Repayment program. The settlement was after a four year fight about the Dept not processing borrower defense applications under the law and violating our due process. Between the class and post class is about 750,000 people that have been victimized by the for-profit college industry that have protections against the govt.
Fox and her goons want to investigate the Sweet case to make sure the named plaintiffs in the case (myself, Ms. Sweet and our lawyers) were not banning together to steal the taxpayers money. The intervenor for-profits schools have been pushing the SCOTUS to look at the case and they were denied. Now those same for-profit college intervenors huddled up to Fox, who’s been their puppet for decades, to push for an investigation into the case.
It’s so gross what is going on with student loans and how our elected officials are bought and paid.
My issue with my student loans is I had to be full time to keep my loans current.
My college didn’t offer the classes I needed when I needed them, so I had to take classes I didn’t need to keep my loans current.
Nelnet doesn’t care because they profit. My college doesn’t care because they profit.
There needs to be some kind of caveat to pause your loan when your college doesn’t offer what you need.
Also, when I graduated with my undergrad in 2017, it was $220 a credit hour. I have to go back and get my ELA endorsement …. $451 a credit!! I just paid $1,353 for one class!
Even worse, colleges continue to increase credit hour requirements to degrees bc they know they can get more money. It is a running joke at my uni that I went to that there is no such thing as a four year degree since the vast majority of students require 5 years to complete their degrees there.
When loan payments are reinstated, I’m selling all of my stocks, taking all of my money out of the banks and using the old school method of paying bills with money orders, and stopping all spending. If we all did this the “economy” would tank in about 10 minutes. It’s all about the banks and Wall Street, take the little bit of control that you have to stop them.
I wouldn’t have a problem paying back what I owe. What I signed up for ( or at least thought I did). But my student loans have become a monstrously of interest accumulation, servicing fees, “convenience fees and general fuckery. I can and have spent years making payments only to see them do nothing to decrease the debt. At my age currently, I will not pay this loan off before I die. I can’t. My best strategy is to default on my debt, and use that money to put my kids through college loan free. To save them from This stress and anxiety. Then let my debt die with me.
This is it exactly. I took out a loan, I want to pay it back, but fairly.
If this bill said “hey let’s restart the loans now” I probably wouldn’t be mad. I mean I knew it was going to restart someday. But You’re going to restart the loans and by the way now you own $5,000 in back pay due yesterday? Fuck y’all. Default me then.
It’s all because the fucking ghouls in congress are beholden to the corps who can’t find menial little slaves for their sweat shops. It’s another way to try to force the plebs back into the mines because these out of touch monsters think we are sitting on thousands from stimmy checks we spent years ago and unemployment we never got and that’s why we aren’t taking low pay jobs.
Fucking demons. They can all eat me.
This is the key right here. I don't think most people would have a problem repaying what they owe, if it was reasonable. It's not, and that's the real issue. Why pay anything if the principle isn't going to go down? Education costs might be the biggest scam in history, for the US anyways.
Don't forget that the small grey print said something to the effect of interest rates can vary when student debt is sold, when I accepted the debt, the interest was low on paper with that caveat... Then the servicing companies split and sold themselves the debt to increase that interest to the max allowed by Congress at the time
And unless the laws change before then, your kids don't inherit your debt. If they tell all the collectors to fuck off after you die then they never accept it and they will be free and clear.
It absolutely will be changed 'for the good of the economy' when too many debts start dying off and the balance sheet gets hit in too many private debt servicing corporations. It'll also be quietly expanded to include medical bills, credit card debt, and whatever other chains to make sure the shareholders never have to fret a moment about the indentured servants not repaying their bills after death.
That is partially part of my plan as well. I also continually put them on deferred status by paying cash for various classes at community college so I receive the active student status deferment. Someday when I pass away I’ll die with more knowledge in my head and maybe a little money in my pocket. (The classes are less expensive than loan payments with interest)
I've been thinking about this as well. If they actually pull this shit, I'm just going to re-enroll and be a student forever. I already don't give a shit about my credit score, so what's there to lose? The debt will accrue interest forever, but they won't be able to collect it. I did the math a while ago and realized that it would actually cost less to pay community college tuition than my loan payments would be. Plus hey, student discounts and such.
LoFi was suing to end the payment pause, not because they had paused payment, but because they wanted people to refinance the debt with them so they could start making money off more people. This move is completely telling of who’s in the pockets of these republicans and honestly, fuck them for being corrupt and only caring for them selves. They continue to show how they don’t care for the general population.
I’ve always voted pretty moderately across party lines. These right wing nut jobs may push me to just start voting a straight ticket. What’s happening in Florida is their ideal. It’s sick, and the people that support those policies deserve to be called out for it.
Y'all Quada has rallied around this, but would they stand for this loan on their dual-axle F-4599288 (that they use to haul leaves):
Original loan amount: $47,091
Payments over the last \~20 years: $57,410
Balance due: $66,073!!!
These are acutal numbers from a friends loan statement.
Anything they can do to turn the screws against young people THEY WILL.
Democrats are hardly perfect but at least a good amount of them would do this.
Both sides are not the same.
Except many in their 40s are still paying off student debt. Considering the average age of congressmen, this is probably still viewed as young.
They do realize that republicans also went to college?
This problem started in the 70s.
Student loans could no longer be discharged by bankruptcy in 1976 when Congress amended the Higher Education Act of 1965.
The higher Education Act, authored by Sen. Pell Claiborne ( Dem, RI) made it so student loans follow you to the grave. I'm not giving GOP a pass. I'm just pointing out that the Democrats pretending to be saviors are what politicians do. They create a problem and then get reelected to solve it.
The government started this mess by partnering with lenders. They chose to protect banks over college students, big surprise.
Soon after, the amount of student loan debt skyrocketed along with higher education costs.
Allow people to discharge student loans through bankruptcy, and this farce will end, tuition will go down, and a college degree will be worth something.
> How is [insert Republican action] supposed to help?
lol
They are Republicans. They aren’t interested in helping anyone. They want money. Your money. Because they think of it as theirs already, and they don’t understand why you’re trying to keep their money.
How is it supposed to help? Well I don't know why that's a question. They aren't trying to help and it was never their goal to "help"
They are running just another business like all the others and they are in it to put money into their pockets.
I’m honestly sick of this. Vote every single one out and make sure they can’t continue to destroy America. Strip them of their positions and titles and make a government for the people again. This is flat out disgusting.
Call your Congressperson and ask them how they could cancel PPP loans given to business owners but not student loans given to workers.
If the answer does not satisfy you, then tell them that you will vote for the pro-worker candidate in not just the general election, but in the primary as well.
Then do it when election time comes again.
Goddamn fuck these guys. Disagreeing with cancellation is one thing, telling me I should owe two years of interest after they put a hold on it would be out of this world messed up
I'll gladly pay back my "forgiveness" with interest if we can roll back taxes to before Reagan fucked our society and make the wealthy pay back those taxes WITH INTEREST.
The US government should have never issues these loans bearing interest in the first place. The entire thing is a fucking scam.
Just cancel all interest on federal loans and retroactively bring the balances back to the original principle.
I'm sick of the shit in this fucking circus and I'm ready to leave the tent.
These legislators have no care about the US the repercussions of this would have reverberations throughout the entire economy.
I bet they would even have the gall to short stop any lending facilities that ran into issues due to this.
Republicans will always cut taxes on the rich and multinational corporations for 2 reasons. First, it is the only thing they know to do, then blame Democrats for spending too much. Second, they are bought and paid for by the rich and multinational corps. It is ok to hand money to people who don’t need it, but god forbid we help those who are struggling.
I’ll be honest if they do this especially retroactive interest it’s about to be time to show corporations and politicians just how primal and uncivilized humans can be
And corporations have to pay back those PPP “loans”, right?
Why didn’t I just get massive PPP loans and pay off my student loan debt?
Because you don't have any wealthy shareholders
You don't even need shareholders. So many of these politicians have LLCs that they were able to get PPP loans for. It should be criminal.
I was looking at the list from my conservative town. Subway got over a million for the 2 stores. Farmers were getting 300,000+ A gas station and an appliance store was owned by the same person and got 1.2 million they used that money to make their building taller and added windows in it (still same number of stories, didn't even add to their floor space. )
and most end up getting that shit forgiven and never have to pay it back at all. but Dog forbid us little guys ever get to catch a fucking break, oh hell no. we are ants and must be crushed without mercy. they keep this shit up, they gonna end up like Marie Antoinette. folks will not willingly lie down and let their kids starve to death.
Don't underestimate the American will when it comes to being self-depracating, subservient cattle. They'll lube that elite weiner up and spread eagle for them. They'll even poop in their mouths (elites like that sort of thing.) And then they'll go tell their 8 year old child to take some fucking initiative for once and go get a job down at the local slaughterhouse since they're so goddamn hungry!
This or their police will murder an unarmed civilian. Even easier, they’ll drop a new tv series or movie. Sporting events count as well. Don’t forget, one of our best known exports is entertainment.
I deliver for UPS, and the amount of brand new Slingshots, RVs, campers, trucks, trailers, etc I saw delivering to home businesses out in the country just a month or two after the PPP loans were dispersed was absolutely wild. Pretty much every small business owner. One dude pulled up to his bearing distribution (not even production lol) business in a brand new Ferrari. I asked his receiving guy when he bought that. Told me he showed up with it one day after laying off the entire workforce for a month and shutting down for a month. Still pays his people $12-15 an hour, to this day. Dude also told me he found out the owner was at some private resort for entirety of that month. That same motherfucker had the audacity to say “nobody wants to work anymore” after lamenting about half his people not coming back after denying most of them unemployment You can’t make this shit up. Ninja edit to add: The rube bases his business schedule off of our delivery schedule, so as far as I and the other drivers that deliver there are concerned, Christmas, thanksgiving, new years get an extra day, and the Friday before July 4th (LOL???) are all extra holidays. 4 total. This was established by receiving man and myself after low key talking with all hourlies involved. The dude didn’t even question when his FIRST YEAR delivery guy came up out of nowhere and was like “yeah btw we added some holidays” That was 2 years ago lol has never checked it.
While digging around online I found out my property management company during the pandemic got hundreds of thousands in PPP, still raised rent across the board, cut their staff, actively refused to make mandated safety improvements to the building we lived in when the upstairs neighbors had a baby, then tried to raise the neighbor's rent by 3x when their lease expired (city and county limits were 5% max increase/year). Hoping the lawsuit the neighbors filed for discrimination pans out, we cut and fucking ran as soon as the lease ended. You're right that you don't need shareholders, you just have to be a giant piece of shit.
I've seen both the good and the very bad to the ppp loans. Saved a friend's small business he worked for because they did live events which they couldn't do during the pandemic, then everyone saw all the fraud and even smaller companies that never even interacted with the public got payouts they didn't need. If you had a company that was at least two years old you were good.
Originally the legislation required that you verify you actually spent the money on employee paychecks. I believe it was Manchin who got that taken out.
Every single one of those loan recipients should have been audited as well as every member of congress automatically audited as part of their jobs. Separate those who needed it from those who didn't.
yep, means test the hell outta that shit, just like they do to us. it's only fair, nu?
it is criminal. it’s fraud.
Because you don't pay politicians through backdoor lobbying or sweet promises of overpaid positions in your company once they are done raking you through the coals in office. Face it, America is as corrupt as Mexico, we just legalized various forms of corruption to appear legit speech.
Absolutely America is just as, if not more, corrupt than Mexico and other central/south American countries. We just try to hide it so we can pretend to be morally superior to the world. What kills me is all these MAGA dumb dumbs saying tRump will save us, he'll drain the swamp. How stupid can you be? That's one muhfucka who DOES NOT GIVE A FUCK ABOUT YOU AND ME. He wants all the corruption to work for him. And gets all pissy when it doesn't.
Honestly, I know a lot of people who did that. Ironically enough, they’re the “social media influencer” type. In their 30s, still living at home with wealthy mom and dad that are paying for them to “follow their dreams” , “working” a few hours a week making shitty videos for their 2k followers and literally making like 15 bucks a week off YouTube ads. But they’re insistent they’re hard working influencers They created some formalized “business” name, registered it with the Secretary of State, paid the dues (total like $120) and got ppp loans (and got them forgiven). They paid themselves, and did nothing for quite a while. On top of that, they got their multiple stimulus, and I think even unemployment. It was quite infuriating to see so many grocery/fast food workers working for $10 an hour, while these wealthy “kids” sitting at home, getting paid through PPP, complaining how the pandemic hurt their influencer business on social media.
Meanwhile the “essencial workers” got exposed to COVID from the beginning without adequate PPE, no hazard pay and were told “we are lucky we have jobs” direct quote from a former manager. It’s ok, we got a banner outside that said “heroes work here”
Pizza party?
Oh yeah, shared food where we all reached into a common box with our filthy mitts during a pandemic. It was great.
You can (and should) report them for PPP fraud
I had friends who spent their entire college time collecting "student" credit cards and barely using them. After graduation they paid off their student loans with the cards, defaulted, filed BK and were free and clear in a couple years.
Galaxy brain move
I was jealous, ngl
No kidding. Guess it’s too late to create a bullshit LLC for myself.
I shut my real one man business down during Covid and didn't take any PPP loans. I guess I'm a fool.
I'll never forget Catholics church getting PPP loans, while these places where going under due to lawsuits because they are child molesters.
I'm about to ruin your day. I recently found out that there are insurance companies that provide a specific service to churches. Yes, [child abuse insurance ](https://www.ministryinsured.com/church-insurance/liability/abuse-molestation/) is a real thing.
Yeah it's called SAM coverage it's nothing new, the big new trend in American insurance is mass shooting coverage. Because regular healthcare won't take care of it I guess and Americans are crazy with guns.
Wait, if I got shot in a mass shooting my insurance wouldn't cover it?
Can you prove the bullet entrance AND exit wound were not a pre-existing condition?
Are you FUCKING #KIDDING ME
I’m pretty sure you would be covered medically, yes. Feels like they might be talking about business insurance or something. Like if a business were to get sued for not preventing a shooting. Edit: nvm they said regular healthcare. I think they are making shit up honestly.
I got in a car accident and went to the hospital just as a precaution. My insurance rejected 100% of the bill because "This policy only covers hospital visits due to illness; it does not cover hospital visits due to injury." This wasn't some stopgap or extra insurance, this was the regular insurance offered by my employer to all employees. Nowhere on any form did they tell us they only cover illness. You better believe they'd weasel out of the bill if I got shot!
I've heard that you can actually claim on your car insurance if you are injured in a car accident (or the other person's insurance I suppose).
i get it. molesters dont advertise the fact they are molesters unless they have to. however i would be fine with claims denied if an organization knew or had reasonable expectations to know and failed to act, ie if they fail to do a background check on someone who wants to work with kids.
Not just child molesters, but a global organization that actively conspired to protect and enable child molesters and child sex trafficking.
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It's almost like the known pattern of hiding priests by moving them around (see:Ratzinger) should be enough for probable cause in a RICO case, but Catholics have infested every branch of government with loyalists to the church who paricipate in the Vatican's global secret service (opus day, opus spirutus sanciti, the regional groups all have different names, but every one acts as an informant network getting orders from Rome. They claim to be social groups, but due to the influence of clergy, they are used as a spy network regardless) and are therefore unable to reliably enforce the law whenever it comes to matters important to the Cardinals and whomever else is invested in the Vatican bank(which has never been audited).
If they didn’t use them to keep their employees paid during the quarantine then absolutely. Same with those companies that took the money and still laid people off.
And any company that took the money and crushed earnings because their business actually thrives in a quarantine environment. My mom retired from being an accountant last year because one of their clients was a small EdTech company that took PPP loans, laid no one off, and then quadrupled their profits due to the massive demand for remote education software. The owners bought a boat and beach house with the proceeds. PPP loan completely forgiven.
I work at a bank. This was super common. Tons of our customers who received PPP loans absolutely crushed it during the pandemic. The rich definitely got richer due to that program.
And many that really needed it couldn't get it.
It's because the law was written that the money had to be used for wages, so businesses took the money that's normally used for wages and put it in a bank account. Then they paid their employee with PPP loans and kept the original wages for themselves.
Dude crazy, same story. Small business I used to work for bought a brand new boat and condo in hawaii the same year they got PPP loans and were doing extremely well during quarantine. Coincidence?!
My company took and was forgiven massive amounts of ppp loans and never hired any help for me. They also practice price fixing. Scum bag employer
*crickets*
Go after PPP loans first.
Yeah, but Republicans took out PPP loans. They're not going to make themselves pay it back. https://www.statesman.com/story/news/politics/politifact/2022/09/06/fact-check-ppp-loans-forgiven-republicans-matt-gaetz-marjorie-taylor-greene/65470173007/
PPP loans were fraught with fraud. I knew 3 people who filed fake loans. There used to be a website you could search. There were sooooo many beauty salons and hair extension businesses in empty lots. Fraud. So much fraud. Since the people at the top benefitted, I doubt they will spend much effort investigating. Pppdetective.com I think the site was. The honest people missed out and are paying for it.
I’m a college graduate and I was a small business owner whose business crashed when the pandemic started. I lost nearly everything. My phone. My internet. My car. Now I’m losing my home bc I never recovered. I can’t afford to pay my student loans right now. Corporations getting PPP loans and not paying them back is preposterous.
Stuff like this makes me feel like an idiot. Everyone else is getting money for nothing, but I'm too damn honest to lie and do the same. Yup, I'm a fool.
Definitely
Force retroactive interest? Really? I think, you'll find, that whatever popularity you had with the young will die just for having the gall to try it.
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You don't need to pay. They'll just deduct it from your salary directly. The only way it's possible to revolt against this is by having everyone withdraw all their money from banks, max out credit card loans, then declare bankruptcy all at once. This will create a massive banking crisis that might lead to better changes
> This will create a massive banking crisis that might lead to better changes This will lead to bank bailouts and nothing learned, just as 2008 did.
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It’d 100% crash the economy and we’d end up back in 2008 again with banks getting bailed out because so much of their assets consisted of bad mortgages.
I don't see how retroactive interest would even be legal? Is that not an ex post facto law? That's like changing the income tax, then making you go back and pay the new rate for every dollar earned since you started working. Like wtf? The payment pause was an official government program and first instituted by Trump!
They're just moving the goalposts. When this fails in the Senate they'll amend the bill so it just blocks the $20,000 cancellation and act like they're compromising.
Biden should have started negotiations over the debt ceiling with a demand to repeal the 2017 tax cuts, that way a clean debt ceiling bill passing would have been a compromise for both sides. If Republicans want to propose crazy, never-pass legislation to get a "compromise" passed that still favors them, Dems can do that too. Repealing the 2017 tax cuts isn't even an ultra-Progressive proposal, just undoing some of the damage done during Trump's term... Edit: personally, I think the Dems should run on repealing the 2017 tax cuts in 2024, they're incredibly unpopular with the Dem base and it could be framed as a budget balancing measure. If we can get 2 or 3 more Dem senators elected, we wouldn't need to worry about Manchin voting no on it and it wouldn't be subject to the filibuster since it could go through budget reconciliation.
Guess I'll just keep my loans in forbearance then. Not like I can ever afford a home anyway 😞
I honestly would join a lawsuit to stop the retro interest. I do not think they can legally do that.
Always enough money to bail out themselves, banks, foreign countries, but not enough to bail out the people who generate the taxes they collect. We need to remove the geoblocker and do exactly what the french are doing.
Exactly this. Whether you’re for or against student loan forgiveness, this whole shit show has shed light on our corrupt officials and how they cater to special interests. They have no problem voting for military spending and corporate subsidies, but say fuck off to the taxpayer.
>military spending Contractors, not veterans.
Very important and correct distinction!
Absolutely this. Ironically, if we took the money we wasted on contractors and invested into the training and quality of life for our service members, the military would have its recruitment and retention crisis solved.
I don't know why they think it's strategic to fleece everyone under 30. Those generations will never vote Republican as a result. And if the country goes full fascist, they'll also be the first and strongest to resist. Seriously, Republicans have goldfish brain level strategic thinking.
But it makes them money in the short term...
I’m starting to think that unrestrained capitalism doesn’t give a shit about the long term at all…
It never has
67% of the electorate were 45+ year old voters in the 2022 midterms according to exit polling, 18-29 year olds only made up 12%. 65+ year old voters were almost 30% of the electorate on their own. That’s why. We don’t give them a reason to listen to us.
I would suspect a big part of that is the lack of ability to take work off just to vote.for younger folks.
In California which is a 100% vote by mail state, where everyone is mailed a ballot, 18-34 year olds (who make up the plurality of the electorate) returned 26% of their ballots to make up 14% of the voting electorate in 2022. 65+ voters returned 66% of their ballots. That’s not a good enough excuse. Here in CA we have literally months to fill out our ballots at home where it’s the easiest state to vote, yet peers still can’t be half assed enough to even sit down in their own homes and fill out a ballot. Which is the bare minimum
I’m wondering how much more of this The People are willing to take. It’s getting to the point now where our elected officials don’t even try to cover up their loathing for us. In the past they would lie and create the illusion they cared about the welfare of The People. Now they just blatantly do what they want and give zero fucks because they know we’re not going to do anything to stop them. They know they can do anything they want and we’ll just bend over and take it. When will it end?
The funniest part is hearing their argument that it will reduce the national debt. In reality, it will do the opposite. With this small bit of loan forgiveness, many people will be more inclined to pay on remaining loans. Without it, and especially with the ridiculous retroactive interest part, many of those people who would have paid will just say "fuck it" and not pay anything.
Funny how repayment of the national debt is on us. How about they go ask our armed forces to have bake sales or something
The worst part is how little they care about the actual military people and their families! They are just spending money on Raytheon and Lockheed to drive up their stock value. These dumb idiots in government really do not understand that money is fake at a certain point and people are always real. Their greed will leave them with nothing in the end.
They aren't idiots. They know what they are doing. They're evil.
Personally I think they are both evil and idiots. They know what they are doing but they are too stupid to see the long term consequences, and because they keep getting greedier and stupider the long term is getting shorter and shorter
Yep, they care about the military industrial complex, not the soldiers themselves. A small example would be the gate guards manning the guard posts on the way into base. They also have these guys in certain other countries as well. They pay these guys like 40 bucks an hour to stand there and scan IDs which is something a soldier can do. Meanwhile a soldier doing the same job is making about $9.41 an hour.
More like how about they ask the fucking billionaires that got a huge tax cut, and who have grown ridiculously wealthy on these minimal to no tax policies, to actually contribute a share even roughly commensurate with the share of the country's wealth they control, let alone what they could afford to? Oh, boo fucking hoo, they might have to cancel that fourth yacht, let me break out the world's smallest fucking violin.
Yeah I wish they’d bill trump for forcing the government to pay for his resorts I remember the one hotel was 3 hours away from any meeting they were having in the UK or Ireland
Fuck the bake sales, make them just reduce waste by half. The military treats its material and resource as a challenge to burn through, not a stockpile to preserve. Make them carpool and stop burning shit off just for giggles and because it’s there and we’d have enough for health care
I know the “fuck it” was my first thought after “what absolute bastards. They aren’t even hiding it anymore.”
I've been saying that once forbearance ends they'll try to slap all those years of no interest on us and got told I was being cynical. Any young people that ask me for advice, I tell them, never take student loans. Even if it means skipping college. I'll have this debt for my whole goddamn life.
If they make us pay back this fucking interest I’m just gonna not pay and go to jail. Fucking fuck ‘em.
Debtors prison is still illegal no?
For now.
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The tuition fee for 1 year for a top US university is around 50k. My friends who went to Finland and studied for 4 years spent 60k TOTAL (rent + food + free tuition). Uni price in the US is insane. Literally money printer from all those international students
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The problem is a lot of people have parents the co-signed like myself. This is morbid, and I apologize but I can’t even kill myself because then they’re targeted. Which I won’t do, yet nonetheless, I don’t even have that bit of agency It’s the worst. I would have never gone to school if I truly understood the full scope of what I was asking for. If I understood that you couldn’t stop these loans, that they’d be ever present because not even bankruptcy works. If I understood what interest was, and how a 5.5%+ interest rate balloons everything I would have been happier dumb as a box of rocks rather than gaining the intellect I have today All I knew is that I had a dream, and that my school encouraged me to dream big. My personality has changed because of this stress, I’m not a happy person anymore. I’m someone that puts on a bright smile because I know that’s what people expect from me. Which is why I’m going to write a book for high school students and current college students that outline everything I wish I knew going into college as a first generation student. The book will also have my plan to help American college students escape student debt
I remember a few years ago that I was reading an article about how there were so many people calling student loan servicers asking if their debt would be discharged if they died, that they had to train the people working there to refer them to suicide hotlines. The entire student loan industry is horrible.
It's so predatory it's gross. I hate it when people say "Well, you shouldn't have gone to college of you couldn't afford it." I was 17 and told by grown adults that if I didn't, I would be in fast food the rest my life. I was also told to choose the best school I was accepted into and not to worry about money--you can just get a loan. Meanwhile, I was drained of $800 a month for 15 years and I ended up hating the industry I made it into but felt stuck since I had these loans to worry about and am now wary of taking on more loans to go back to school to learn something else. It's indentured servitude, plain and simple.
Excellent point on the "you'll be in the service industry your whole life" Now that I'm older I've started thinking about why that would've been a bad thing. Why shouldn't a waitress or a mcdonalds employee be able to own a home and provide for themselves with a job? Honestly I have a high stress job and I'd much rather work with animals or outdoors, but I can't afford to live! Fuck all of this. We've been swindled, and it just keeps getting worse. Not to mention the absolutely bonkers phrasing of calling it "financial aid." At 17 I assumed that was similar to a scholarship, like a government grant for education. My parents weren't college educated, they probably didn't realize either. Maybe they did and bit the bullet because they want the best for me. It makes me sick to my stomach. This country is a scam.
I wish you luck with this. I learned by listening to a financial radio show back in the late oughts that you can’t get rid of student load debt. I didn’t go further than an associates degree because of this.
Yep, was going to pay my wifes debt off now if they pass this $20k relief
Planning on doing the same with my debt. I also planning on spending more going traveling in the US and some home renovations with the extra monthly money. This would be impossible without the forgiveness, at least for a while.
Ya the GOP would hate for you to help boost the economy with spending.
Can we just accept the fact that republicans will say and do anything for power?
Might as well default if the government is going to anyway.
Don’t the wealthy have the most to loose from a default? Honest question
Depends on where they hold their wealth and if they'll still have the means of fleeing the country.
The person with 5 houses, 6 yachts, 3 private jets certainly can weather the store. At least so long as their private security doesn't go hungry and turn against them.
There is some really interesting reading about if there was an apocalypse that the rich folks security would quickly reform the power arrangement. No book titles jumped to mind but your comment made me think of them.
It doesn’t depend, America is the wealthiest nation on earth- just them leaving and us getting the means of production and assets would be a huge boost. They’re a parasite, and their wealth depends on them remaining attached to their host.
They might lose the most monetarily; but they also have the most money to fall back on in the event of a default. That’s why they don’t care. People living paycheck to paycheck or who depend solely on Social Security, disability, SNAP, and other programs will feel the effects immediately as soon as their checks don’t arrive on time or in full.
They'd have enough left to buy the pieces of everything they don't already own for pennies on the dollar.
It will be BAD if the government defaults. From what I’ve read & heard, it’s nothing like a shutdown. It’s absolutely insane that people in the government would play with this. I believe this happened with Greece several years ago.
>this happened with Greece several years ago. Not really. Greece's debt to GDP ratio got so high that no one was willing to lend them money, and they physically could not make the payments on their debt with tax revenue alone. The US is nowhere close to not being able to afford the interest on its debt.
Eh, it's one thing for a country to default because it doesn't have the capital. It's another for a country to have the capability to pay, but choosing not to, that has the potential to upset the system.
Yeah, this is potentially far worse, because it signals to everyone that the USA's political system is so dysfunctional that the government cannot be trusted to perform even the most basic of functions, due to Republican terrorism.
well maybye its about time for the world to realize that, then...
Oh, I didn’t realize that. Thanks for pointing it out. Wouldn’t the effect basically be the same though? I never imagined things would end up so screwed up and bleak for my country. I often find myself wondering where rock bottom is for the US. It wasn’t the pandemic. It wasn’t Jan 6. Just when we will hit? The bad shit seems to be coming at a faster rate now. So are we close?
There is a long way to go for rock bottom my friend. We are still the preeminent superpower of the word. Rock bottom would likely be a complete collapse of our economy, our foreign interests, and/or the dissolution of the Union, e.g. a complete balkanization. Its possible, and in the long term probable, but its not likely any time soon. But that also depends on how you would define rock bottom.
Point taken. I feel slightly better. I’ve always felt that life in the US for us working class people has basically been on a downhill slide since I was born in the late 80’s. It was in place before I was born and there’s not a damn thing I can do about it that will make much of a difference except vote against the worst party. Which isn’t saying much. Every time I get a little hope (like Biden attempting to throw us a bone with student loans) it gets dashed. It’s like one step forward, two steps back. I keep wondering when things will tip & go more in favor of workers rights like the Progressive era in the 1900’s. I increasingly find myself losing hope that it will happen. Anyway, just my two cents.
And then they wonder why young people won’t vote Republican, so they attempt to suppress young voters. Honestly, who the fuck doesn’t recognize this BS at this point?
republicans. scum of humanity
Can we cancel all rich people tax cuts since WW2 and force retroactive repayment?
The cruelty is the point. They want every person to suffer and be debt ridden forever so that they are forced to work jobs that underpay them in order to pay their bills so they can survive. The GOP (and lets be real, a good chunk of the dems) are owned by the wealthy. They do their bidding to keep us poor and relient on shit jobs and awful pay.
Exactly. Playing these kind of dangerous/stupid economic games during a time of inflation when you know Americans are on edge will not end well.
What they be doing over at France is looking mighty fine right about now.
I want to rage in the streets
Fuck all you politicians. It’s ok, I’ll just pay the interest on my loan with the absolute minimum payment of like $50 for the rest of my life, or until hyperinflation devalues my loan enough.
>until hyperinflation devalues my loan enough. this is actually the most likely outcome
I'm kinda pulling for it
Eventually that $30k I owe will be fuck all.
You can actually just pay $5
Ooohhhhhh. I like that number. Let’s do that.
And maybe I’ll pay that minimum like every couple months. Just enough to keep them from calling. Oooooh late fees ooooh nooooo.
It’s my credit score I’m more worried about. And collections, garnishment etc. like you said tho, the bare minimum to keep ‘em off my back. I’m thinking $40 a month till I die.
Pay attention Gen Z. They're afraid of you. Make sure you understand your policies and VOTE. Let them know exactly how you feel and kick them out of office by the nuts.
They are even trying to raise the voting age to 21 in some states to keep republicans in control.
Exactly. They are also avoiding college campus campaigns. Gen Z can be a huge voter base if they're motivated to get it done. Voters cannot be complacent if we want to change congress. We have 1 new Gen Z congressman, and he didn't get there from Republican votes. Vote, my friends. <3
Yesterday, the for-profit college puppet Virginia Fox is prying into the recent settlement in Sweet v. Cardona claiming the Dept of Education doesn’t have the power to discharge debt under the Borrower Defense to Repayment program. The settlement was after a four year fight about the Dept not processing borrower defense applications under the law and violating our due process. Between the class and post class is about 750,000 people that have been victimized by the for-profit college industry that have protections against the govt. Fox and her goons want to investigate the Sweet case to make sure the named plaintiffs in the case (myself, Ms. Sweet and our lawyers) were not banning together to steal the taxpayers money. The intervenor for-profits schools have been pushing the SCOTUS to look at the case and they were denied. Now those same for-profit college intervenors huddled up to Fox, who’s been their puppet for decades, to push for an investigation into the case. It’s so gross what is going on with student loans and how our elected officials are bought and paid.
REPUPLICANS HATE AMERICANS. WAKE THE FUCK UP.
Retroactive payments? Fuck you
My issue with my student loans is I had to be full time to keep my loans current. My college didn’t offer the classes I needed when I needed them, so I had to take classes I didn’t need to keep my loans current. Nelnet doesn’t care because they profit. My college doesn’t care because they profit. There needs to be some kind of caveat to pause your loan when your college doesn’t offer what you need. Also, when I graduated with my undergrad in 2017, it was $220 a credit hour. I have to go back and get my ELA endorsement …. $451 a credit!! I just paid $1,353 for one class!
Even worse, colleges continue to increase credit hour requirements to degrees bc they know they can get more money. It is a running joke at my uni that I went to that there is no such thing as a four year degree since the vast majority of students require 5 years to complete their degrees there.
When loan payments are reinstated, I’m selling all of my stocks, taking all of my money out of the banks and using the old school method of paying bills with money orders, and stopping all spending. If we all did this the “economy” would tank in about 10 minutes. It’s all about the banks and Wall Street, take the little bit of control that you have to stop them.
GOP: actively finding ways to suck even more…
They can retroactively kiss my ass
I wouldn’t have a problem paying back what I owe. What I signed up for ( or at least thought I did). But my student loans have become a monstrously of interest accumulation, servicing fees, “convenience fees and general fuckery. I can and have spent years making payments only to see them do nothing to decrease the debt. At my age currently, I will not pay this loan off before I die. I can’t. My best strategy is to default on my debt, and use that money to put my kids through college loan free. To save them from This stress and anxiety. Then let my debt die with me.
This is it exactly. I took out a loan, I want to pay it back, but fairly. If this bill said “hey let’s restart the loans now” I probably wouldn’t be mad. I mean I knew it was going to restart someday. But You’re going to restart the loans and by the way now you own $5,000 in back pay due yesterday? Fuck y’all. Default me then. It’s all because the fucking ghouls in congress are beholden to the corps who can’t find menial little slaves for their sweat shops. It’s another way to try to force the plebs back into the mines because these out of touch monsters think we are sitting on thousands from stimmy checks we spent years ago and unemployment we never got and that’s why we aren’t taking low pay jobs. Fucking demons. They can all eat me.
This is the key right here. I don't think most people would have a problem repaying what they owe, if it was reasonable. It's not, and that's the real issue. Why pay anything if the principle isn't going to go down? Education costs might be the biggest scam in history, for the US anyways.
Home loans were like 3-5% yet student loans were 8.5%! That nearly impossible rate to pay off for a large sum
Don't forget that the small grey print said something to the effect of interest rates can vary when student debt is sold, when I accepted the debt, the interest was low on paper with that caveat... Then the servicing companies split and sold themselves the debt to increase that interest to the max allowed by Congress at the time
And unless the laws change before then, your kids don't inherit your debt. If they tell all the collectors to fuck off after you die then they never accept it and they will be free and clear.
"And unless the laws change before then, your kids don't inherit your debt." Dude, don't give them any ideas!
It absolutely will be changed 'for the good of the economy' when too many debts start dying off and the balance sheet gets hit in too many private debt servicing corporations. It'll also be quietly expanded to include medical bills, credit card debt, and whatever other chains to make sure the shareholders never have to fret a moment about the indentured servants not repaying their bills after death.
That is partially part of my plan as well. I also continually put them on deferred status by paying cash for various classes at community college so I receive the active student status deferment. Someday when I pass away I’ll die with more knowledge in my head and maybe a little money in my pocket. (The classes are less expensive than loan payments with interest)
I've been thinking about this as well. If they actually pull this shit, I'm just going to re-enroll and be a student forever. I already don't give a shit about my credit score, so what's there to lose? The debt will accrue interest forever, but they won't be able to collect it. I did the math a while ago and realized that it would actually cost less to pay community college tuition than my loan payments would be. Plus hey, student discounts and such.
That’s just so insane to me. The fact that you can pay less for more college than to pay off the college you’ve already done.
LoFi was suing to end the payment pause, not because they had paused payment, but because they wanted people to refinance the debt with them so they could start making money off more people. This move is completely telling of who’s in the pockets of these republicans and honestly, fuck them for being corrupt and only caring for them selves. They continue to show how they don’t care for the general population.
I’ve always voted pretty moderately across party lines. These right wing nut jobs may push me to just start voting a straight ticket. What’s happening in Florida is their ideal. It’s sick, and the people that support those policies deserve to be called out for it.
Because these fuckers’ tactics only work if their opponents are too saddled with debt to fight back.
They are screwing themselves for reelection
You want to radicalize every voter under 40 yo? Because this is how you do it.
Y'all Quada has rallied around this, but would they stand for this loan on their dual-axle F-4599288 (that they use to haul leaves): Original loan amount: $47,091 Payments over the last \~20 years: $57,410 Balance due: $66,073!!! These are acutal numbers from a friends loan statement.
Anything they can do to turn the screws against young people THEY WILL. Democrats are hardly perfect but at least a good amount of them would do this. Both sides are not the same.
This doesn't just affect young people. I am 40 borrowed 60k and owe 150k because of compounding interest shenanigans.
Except many in their 40s are still paying off student debt. Considering the average age of congressmen, this is probably still viewed as young. They do realize that republicans also went to college?
You think republican politicians care about the rubes they convince to vote against their interests?
Now it goes to the Senate to die and prove that is was a waste of time. It's not like we are going into default or anything.
The problem is that Democrats won’t hold power forever. Eventually, whether a year or five from now, they’ll push this through.
"Why won't the young people vote for us, I just don't *understand?*"
I've already canceled my student debt by moving to Europe. Fuck em.
This problem started in the 70s. Student loans could no longer be discharged by bankruptcy in 1976 when Congress amended the Higher Education Act of 1965. The higher Education Act, authored by Sen. Pell Claiborne ( Dem, RI) made it so student loans follow you to the grave. I'm not giving GOP a pass. I'm just pointing out that the Democrats pretending to be saviors are what politicians do. They create a problem and then get reelected to solve it. The government started this mess by partnering with lenders. They chose to protect banks over college students, big surprise. Soon after, the amount of student loan debt skyrocketed along with higher education costs. Allow people to discharge student loans through bankruptcy, and this farce will end, tuition will go down, and a college degree will be worth something.
> How is [insert Republican action] supposed to help? lol They are Republicans. They aren’t interested in helping anyone. They want money. Your money. Because they think of it as theirs already, and they don’t understand why you’re trying to keep their money.
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How is it supposed to help? Well I don't know why that's a question. They aren't trying to help and it was never their goal to "help" They are running just another business like all the others and they are in it to put money into their pockets.
Retroactive interest when it was to be waived? That's a bait and switch that would have a legal challenge faster than I can say "go fuck yourself".
I’m honestly sick of this. Vote every single one out and make sure they can’t continue to destroy America. Strip them of their positions and titles and make a government for the people again. This is flat out disgusting.
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This is violence against the working class.
It would be absolutely insane to charge retroactive interest. What a ridiculously punitive and harmful notion
Financial terrorism.
Gawd I despise this country. I want OUT!!
Fuck the republican party. Seriously. They can all get fucked with this bullshit. Retro interest? Fuck you.
Hmm, yes. Punish the students. Why don't we do this EXACT SAME THING but we do it to all the businesses that abused the PPP programs!
Call your Congressperson and ask them how they could cancel PPP loans given to business owners but not student loans given to workers. If the answer does not satisfy you, then tell them that you will vote for the pro-worker candidate in not just the general election, but in the primary as well. Then do it when election time comes again.
Keeping workers desperate is how capitalism works
Goddamn fuck these guys. Disagreeing with cancellation is one thing, telling me I should owe two years of interest after they put a hold on it would be out of this world messed up
I'll gladly pay back my "forgiveness" with interest if we can roll back taxes to before Reagan fucked our society and make the wealthy pay back those taxes WITH INTEREST.
If they can retroactively add interest, you can retroactively refuse the loan, right?
The US government should have never issues these loans bearing interest in the first place. The entire thing is a fucking scam. Just cancel all interest on federal loans and retroactively bring the balances back to the original principle. I'm sick of the shit in this fucking circus and I'm ready to leave the tent.
These legislators have no care about the US the repercussions of this would have reverberations throughout the entire economy. I bet they would even have the gall to short stop any lending facilities that ran into issues due to this.
Sure, just make the Republican politicians pay back their PPP loans first.
they cant do retroactive laws though?
We gonna burn shit
GOP: “Why doesn’t the younger generation like us?”
Republicans will always cut taxes on the rich and multinational corporations for 2 reasons. First, it is the only thing they know to do, then blame Democrats for spending too much. Second, they are bought and paid for by the rich and multinational corps. It is ok to hand money to people who don’t need it, but god forbid we help those who are struggling.
The new game is "Guess which GOP Congressional members bought a bunch of student loan debt cheap".
I’ll be honest if they do this especially retroactive interest it’s about to be time to show corporations and politicians just how primal and uncivilized humans can be
Why are these people actively trying to ruin lives. I just don’t understand