The clock started ticking on a financial time bomb this week for student loan borrowers — those in default will now be referred to debt collections.
Because of the messy state of the student loan world, the economic fallout could be far more widespread than anticipated, hitting some who typically would be able to pay back loans. It also comes amid recession fears, worries over higher inflation, and a slowdown in hiring.
Remember when liberals were whining about how Democrats weren’t listening to them on student loans and then wouldn’t vote for Harris?
Not sure what you mean.
The Democrats did work on student loans. Biden forgave millions of loans and the Republican Congress overturned it in the Conservative courts. So he capped repayment for most borrowers (I’ve verified with my own loan that the lower rates are still active), and placed almost all loans in forbearance. It was the closest thing to forgiveness that was legally achievable.
Then leftists decided he was too old to be re-elected. Harris promised to continue the fight, as well as advance other progressive causes like criminal justice reform, federal decriminalization of marijuana, etc. We all know what happened there.
Let’s not rewrite history here.
I was reliably informed at the start of the year that the US was just days away from the best jobs, the biglyest paychecks, and a golden age.
Was I misled‽
No, just none of that is for you. All of that is for those already rich and/or in seats of power.