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.
Wish we could just sue for undo stress and force them to drop all repayments do to their complete lack of certainty. Whether or not people can afford to eat depends on their flip flopping changes. If they are going to send thing to collections and garnish wages they need to have full drawn out timelines on when such will happen. We can’t invest money into ensuring ongoing success in our own lives without knowing the stability of what our payments are required to be.
One can dream.
That I can get behind!