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Student Loans Getting Ugly

May 6, 2025 Winter Watch Around the Web 6

Student loans are about to get ugly. 20.5% federal borrowers are 90+ days delinquent – highest ever. -Tax refunds can be seized. -Social Security garnished 15%. -Wage garnishment up to 15% of disposable income – no court needed. Scores down 40-175 points. Collections will drop them further. Cosigners get hit too.

6 Comments on Student Loans Getting Ugly

    • Totally agree, a friend of mine racked up $30,000 getting a degree in Electrical Engineering and he paid back every penny. No sympathy for people (especially women) that racked up tens of thousands in debt getting useless liberal arts degrees.

      That being said, many STEM students got screwed because after racking up debt they graduated only to find that many jobs that should have gone to them were either being outsourced overseas OR companies were brought in Indians on H1B visas. I also blame parents for not setting aside money for their kids and or encouraging them to go into debt.

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  2. No better way to brainwash the children than have them or their parents pay for a professional service. Similar to cell phones. No better way to spy on the population than convincing them to buy the Spyware.

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  3. I paid mine by paying large amounts and doing without all the crap stuff that these irresponsible spoiled brats bought – instead of paying their student loan debt. And if these irresponsible spoiled brats lived with mommy and daddy, then they should have and could have made payments. They were just waiting to be “forgiven”. If student loans are forgiven, then all the people who paid (like me) should get all our mony back. Either that – or everyone repays them. Pres. Trump – what do you think? I hope you agree with me – and make everyone pay their entire student loans OR GIVE THOSE OF US WHO PAID OUR MONEY BACK PRONTO!

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  4. idiot conservatives (not smart conservatives) realize that the student loan is a scam trap industry. when a student defaults, the government pays the bank 100% of the loan and then the shylocks are free to rape the student for the rest of their life by selling the loan every few months and adding fees and penalties every time all while charging greater than mafia interest rates. the government already payed ding dongs ! the only thing going on is usury that would make Don Corleone blush. an easy fix is to make the student have right of first refusal to buy the loan every time it is put up for sale. the shylocks sell the loans for pennies on the dollar and do this frequently to rack up penalties and fees and most importantly avoid going to court where a judge would force a reasonable pay back instead of shylock rape program. the key point is 1. the government payed at the beginning of this process…so saving blue collar from college freeloaders is already done. this entire scam is kind of like the dwi industry which doesn’t really care about dwi…it cares about lawyers, judges, counselors making billions of dollars

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  5. Banks are complicit. When Hilary Clinton was a New York senator, she was paid a lot of money by Goldman Sachs to change bankruptcy laws. Now student loans are not dischargeable in bankruptcy. The young people were targeted to take out loans. When I was going to school in the 1970’s no bank in their right mind would have extended unlimited credit. Also, there are no jobs to support paying back those loans. Those young people were swindled by the banking crowd. They were targeted. On purpose.

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