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Trump Admin Will Garnish Struggling Borrowers' Wages as Student Loan Payments Resume (www.commondreams.org)

submitted 10 months ago by return2ozma@lemmy.world to c/news@lemmy.world

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[-] IHeartBadCode@fedia.io 44 points 10 months ago

there could be almost 10 million borrowers in default in a few months

That's not a small amount. That's fucking with economic outlook levels.

As for their program to "guide" folks to repayment, I mean you might as well tell them that they're indentured servants at this point. Bully tactics are not going to work in an economy where it does not matter how much or little credit you have.

And I highly doubt this administration has any kinds of plans to gentle get folks back to repayment. I fully expect, "pay your loans or we will make you a slave for the rest of your life" to be their go to solution.

There's a correct manner to handle this, I expect Trump's administration to fuck it up every step of the way.

[-] grue@lemmy.world 18 points 10 months ago

There's a correct manner to handle this

🔥🔱?

[-] JasonDJ@lemmy.zip 6 points 10 months ago

Can't use a trident, that's lord Neptune's weapon and directly incompatible with fire.

[-] grue@lemmy.world 4 points 10 months ago

There didn't seem to be a normal pitchfork emoji, at least not that I could find. 🤷

[-] swab148@lemm.ee 2 points 10 months ago

How about 🔥🍾

[-] frunch@lemmy.world 10 points 10 months ago

Think deportation could be on the table? Default on your loan and off to El Salvador? There's no telling with these assholes

[-] gravitas_deficiency@sh.itjust.works 21 points 10 months ago

Calling it now: Debtor’s prisons are going to be the “next big thing” from private incarceration companies.

[-] prole 12 points 10 months ago

I had to do a quick google for a reminder of how they were done away with in the US in the first place... Supreme Court ruled it unconstitutional.

So yeah, I look forward to them coming back.

[-] CharlesDarwin@lemmy.world 5 points 10 months ago

Why do you think things like CFPB are/were being lied about so much? Andreesen sat there and brazenly lied about them.

But the elites hate that there is anything protecting the little guy. They'd much rather have zero regulation and have the parasitic, predatory idle rich class be able to fleece the poor and middle class even harder, and imprison those that cannot repay...

[-] barneypiccolo@lemm.ee 2 points 10 months ago

Best Simpsons line ever:

"Poor people get all the breaks!"

[-] frunch@lemmy.world 9 points 10 months ago

Private incarceration companies

This is some future we've built/inherited, huh?

[-] gravitas_deficiency@sh.itjust.works 9 points 10 months ago

[-] barneypiccolo@lemm.ee 3 points 10 months ago

A friend of my parents once invited them to an investment seminar ("free dinner!"), and it turned out to be an investment in a private prison company. Their friend bought in, and was surprised my parents didn't. It was partially because they are very risk averse, but also because they simply didn't like the idea of profiting off of human misery.

[-] jimjam5@lemmy.world 5 points 10 months ago

What a great way to discourage up-and-coming (other than white) poor people from getting (higher) education. /s

Equate ‘not being able to pay for it outright’ to imprisonment.

[-] gravitas_deficiency@sh.itjust.works 1 points 10 months ago

Yeah I’m pretty sure that’s by design

[-] partial_accumen@lemmy.world 2 points 10 months ago

It could go that direction, or could go toward forcing otherwise unwilling people to join the military through a program that pays off student loans. This program looks pretty limited, but it looks like it has all the linkage to be expanded to be more generally applicable to more people:

College Loan Repayment Program (LRP)

Summary

The Loan Repayment Program (LRP) is a special incentive that the Army offers to highly qualified applicants entering the Army. Under the LRP, the Army will repay part of a Soldier's qualifying student loans. Only specified Military Occupational Specialties (MOSs) qualify for the LRP.

Benefit Highlights

The Army will repay 33 1/3% of the outstanding principal balance, less taxes of the Soldier's student loans annually or $1,500, whichever is greater, after each year of service (up to $65,000, less taxes) up to three years total. Loans must not be in default before entering active duty, and during the repayment process

source

[-] barneypiccolo@lemm.ee 1 points 10 months ago

Oh, yeah, I've been predicting that for a while now. Low credit ratings will also mark you as a potential criminal.

[-] djsp@feddit.org 4 points 10 months ago

I don't think so, at least when it comes to US citizens, because deportations would cost them and spark controversy for no benefit. I think they'd prefer to keep these deeply indebted people in the US as indentured servants willing to work for pennies and too poor to engage politically.

[-] atzanteol@sh.itjust.works 6 points 10 months ago

If there's anything Trump is careful about it's not sparking controversy for no benefit.

[-] greybeard@lemm.ee 2 points 10 months ago

Unfortunately we've reached a point where you must add the sarcasm /s to your comment otherwise it cannot be interpreted correctly.

[-] atzanteol@sh.itjust.works 2 points 10 months ago

Goddamnit you're right.

[-] Eximius@lemmy.world 1 points 10 months ago

I mean, to keep morale in check maybe? But why would you kill off your own slaves? That's like burning your own car.

[-] SnotFlickerman 34 points 10 months ago

"The beatings will continue until morale improves" energy.

[-] AdolfSchmitler@lemmy.world 24 points 10 months ago

"Why aren't young people having more kids??!!!"

[-] CharlesDarwin@lemmy.world 8 points 10 months ago

If the wimminz had just got knocked up by the end of high school or just after and they then get married to the baby daddy, they wouldn't have to worry about things like school! They should all be trad wives anyway.....

[-] ObsidianZed@lemmy.world 19 points 10 months ago

"to protect taxpayers from shouldering the cost of federal student loans"

What fucking costs are the taxpayers shouldering from student loans???

[-] EndRedStateSubsidies@leminal.space 9 points 10 months ago* (last edited 10 months ago)

Ironically, forgiving the debt would generate immediate economic activity that the government would tax and collect that money back with far greater returns.

Every dollar in food stamps generated $1.70 in economic activity and that's just for "normal" poor people.

The problem isn't (just) the cost of education being insane but that wages aren't increasing to cover the bigger numbers.

The problem is that it's becoming harder to hide the entire country is a "company town" or African diamond mine where keeping you trapped in debt you'll never escape is the goal and it's perfectly legal because they own the laws.

I have been with my employer for a decade. My nominal wage has increased 50% but once you account for inflation I'm still basically at my starting wage even after a decade of promotions and certifications.

[-] CharlesDarwin@lemmy.world 17 points 10 months ago

Many qons have been trained to think that going to college is a bad thing and that those that went are bad people.

I wish I was kidding. This is red meat to those types of people. Ironically, they were instructed in this kind of nonsense by thought leaders that almost all....went to college.

[-] Brumefey@sh.itjust.works 2 points 10 months ago

This makes me think about all the Charlie Kirk shorts that were flooding my YouTube feed during the elections…

[-] CharlesDarwin@lemmy.world 2 points 10 months ago

Is that because he didn't go to college or because he was pushing some anti-education nonsense?

[-] valkyrieangela 13 points 10 months ago

Well, they're about to find out what happens when you corner animals...

[-] ThrowawayPermanente@sh.itjust.works 5 points 10 months ago

The animals self-harm and then post about it on Instagram?

[-] CharlesDarwin@lemmy.world 6 points 10 months ago

Many of them will cackle about "owning the libs" and vote even harder for Republicans even if they are now having to live out of a tent.

[-] ThrowawayPermanente@sh.itjust.works 6 points 10 months ago

Half of these people would accept living in a tent if it meant a liberal had to sleep rough

[-] barneypiccolo@lemm.ee 4 points 10 months ago* (last edited 10 months ago)

Joke's on them, I was a Boy Scout, I love camping. I'm actually a good campfire cook.

It's also where I learned to shoot, and I showed an uncanny aptitude for it. Just sayin...

[-] barneypiccolo@lemm.ee 3 points 10 months ago

"Look what the Liberals have done to me."

[-] prole 11 points 10 months ago* (last edited 10 months ago)

Oh look, another thing to actively discourage America teens from receiving a higher education.

[-] barneypiccolo@lemm.ee 11 points 10 months ago

If they start doing things like this, and Debtor's Prisons (only a matter of time), then it will be officially the time to shift from a Trickle Down Economy, to a Robin Hood Economy (take from the rich, give to the poor).

Steal anything that isnt nailed down, as long as it comes from a rich person or corporation. Hands off of middle/working class folks, and small businesses.

Unless they're MAGA. Then strip them bare.

this post was submitted on 22 Apr 2025

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