The US total population is about 340 million. Those 18 and older is about 254 million.
With 5.3 million defaulted, that means 1 of every 68 adults has defaulted on a student loan.
At any given time, a large grocery store has 1-5 people who defaulted on a student loan.
There is clearly something wrong with the US society with that many people who can’t pay for an education, which is needed to barely get a job.
Once again I’m happy to inform you that yes, it’s Ronald Reagan’s fault. Damn his evil soul.
In pants shitting fear of “Creating an Educated Proletariat” Reagan took our system of basically free college and turned it into this mess we have now.
(P.S.: If you piss on Ronald Reagan’s grave in California and are caught by police its a misdemeanor charge carrying a $1000 fine. I don’t know about you but I can budget for this particular bucket list item)
If you piss on Ronald Reagan’s grave in California and are caught by police its a misdemeanor charge carrying a $1000 fine.
I mean if I was a millionaire YouTuber who farms outrage, based somewhere other than the US, I know what I’d spend a hundred thousand on…
As it stands, I’m not American and don’t live in the US, so I can’t really partake in the fun. I hope some people do, though.
Yup, my parents paid for tuition, books, leisure, food, and board working a summer job.
I had to use the GI Bill, a part time job in fall, winter, and spring, full time job in the summer, doing almost no leisure, money I saved up while in the military, and money my grandparents gave me
Do they do group rates?
And Reagan adopted his policies from the owner class think tanks. They worked for decades to create the conditions and people needed to realize what transpired under Reagan. 🥲
and the answer to this problem? let’s kick those already on the floor!!. fuck yeah murica
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What is this? I’m not clicking.
This cunts daddy paid for his college were he bought his degree of course he lacks empathy for normal hard working people
Didn’t this guy default on most of his loans several times?
He also ripped off contractors
So 5.3 million Americans are going to be given less incentive to work and less to lose?
As a transgender man who served 3 of my 4 years of my TEACH grant before my state made it defacto if not de jure illegal to be a transgender teacher -
I’m fucked lol. I’m just going to have to work under the table the rest of my life. My billionaire ex managed to dump his credit card debt on me, so I’m fucked hopelessly. It’s entirely legal to fire me for being trans in any job. Doesn’t matter whether it’s cleaning vomit after a basketball game or working at a group home - my uterus renders me a non human.
If I do lose my apartment, I’ll make the news in the best way I can though.
He could raise money by taxing billionaires who wouldn’t suffer but he goes after people who took out loans for education. He also looks especially toad-like in that image.
I don’t know how anyone can be optimistic about this economy. This isn’t death by a million little cuts. we are headed for an unprecedented economic depression.
The guillotine got applied to the economy instead of the… Proper target…
This ain’t nazi sympathizing Reddit bro - you’re allowed to say that a treasonous Russian asset in our government deserves to be executed by guillotine, even if somehow that treasonous Russian asset is the president.
What are you talking about, the market is back to its pre-Trump levels! 📈🔺
How far pre trump? 95 years?
Didn’t you hear? If the economy goes up, that’s Trump’s handiwork. If the economy slips, it’s Biden’s economy. It’s really simple to understand, attribute all good things to Trump and bad things to Biden. /S
I get it, trump was responsible for the economy when Biden was president,
And now that Trump became president, Biden is responsible!
It makes so much sense when Trump explains it like this, it has to be true
He explained it quite clearly in that interview. 😄
🥇
Maga won’t be affected by this.
Maga doesn’t “do” edumacation.
Oh there’s a small minority of them and I’m sure they’ll be on Facebook complaining about how unfair it is and how they’re not hurting the right people.
They do tend to be whiney people after all
What about all the fratboys?
MAGA isn’t educated, so that checks out.
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When you make him
I saw forgive his debt in exchange for being skinned alive.
I hope all the zoomer dudes who voted for orangeboi enjoy this delightful financial punch in the dick
lol, you think most of those guys went to college?
I think you’d be surprised how many of them did
Doesn’t take a lot to get through college
Umass boston was largely a joke. I do agree with that.
It’s mostly a time and money sink for a piece of paper unless you’re going into a profession that requires it… though you don’t usually need a degree, instead you need to pass various certifications. There’s even wacky exceptions like not needing a degree at all to take the BAR exam in Vermont.
Then there’s the hyper conservative colleges out there… I couldn’t tell you at all how those go but I wouldn’t assume very well.
Gotta pay for that birthday parade somehow
My friend is directly impacted by this. So much winning. Thanks again Don. Really making America great
This dildo is practically asking for another attempt on his life.
Conservatives will happily take their own wages being garnished as long as there are more liberals whose wages are being garnished than conservatives.
Time for the under the table economy to rise sgain
💯
Another benefit is no income tax on under the table income
Roughly 2.9 million people who have student loans are age 62 or older. I’m very curious as to how many in that demographic are within this defaulted status. Mostly because any change in social security benefits for a retiree is life altering and if any significant portion of that group that’s defaulted is also this 62 or older group, the changes this will have a massive impact on the population. Retirees that get caught into money troubles not only brings them down, but usually the family that ultimately has to catch them from completely falling through the cracks.
Average Student Loan Debt by Age:
Those aged between 50 to 61 have the highest average federal student loan debt at $45,159.
6.10% of federal student loan debt belongs to adults under the age of 25.
Adults aged 25 to 34 years old hold 30.1% of the federal student loan debt; 39.1% belongs to 35- to 49-year-olds.
24.6% of federal student loan debt is from borrowers aged 50 years and older.
61- to 65-year-olds who started college at a traditional age of 18 had the highest starting student loan interest rates.
If this affects retirees i hope they choose to protest with open carry in front of government buildings rather than letting themselves get homeless and starved to death.
Cant do that in a lot of states. CT, California, ny, and others.
What are they gonna do? Shoot at the armed people who have nothing to loose as they are destined to loose everything anyways?
Yes. That is exactly what they will do.
Cops are not military. They are poorly trained panic strike thugs and children.
Then the people have a reason to shoot back at the cops.
In that sense we have seen plenty examples where cops in the US immediately withdrew or refused to engage when there is a possibility of someone shooting back at them.
I don’t think you understand the gravity if being attacked with a weapon by someone who really wants to permanently end another. it is terrifying, and life altering. this is not a movie, this is not something that will only affect other people
this is real life and you’re acting a if it’s a freaking movie
I know it will probably end up in something along those lines, but don’t be so glib about it
The crucial point is “Nothing to loose”.
That is the result if you take so much away from people that they see fighting as the better option than giving in. However i don’t see how you get the idea that this would be like some movie. We have seen with the civil rights movement that armed protests in the US do work. If the regime starts shooting, shooting back is the only option. The issue is, what is the alternative? Protesting unarmed and being killed by the regime anyways? Then going for the armed protest is the safer choice.
