I think this is an example of what people say in surveys being drastically different than what they'll do in reality.
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Is it really a boycott if you simply can't make the payments?
Not that I mind.
I'm just confused as to why it's all fine and dandy that PPP loans were all forgiven regardless of the corrupt practices used for disbursement, but student loans, which impact the economy as a whole far more than PPP ever will, is a must repay.
A lot of wealthy people benefited from PPP loans including House and Senate members, that's why.
Because Republicans will fight so that the rich can get richer by getting handed free money, and Republican will fight so that the working class has to pay back every cent.
Garnished wages is still a huge problem.
Student loans are not forgiven in bankruptcy.
The federal government will garnish borrowers wages until they are paid, even if the borrower is bankrupt.
I've been boycotting mine for years.
"And with enough evaders,
Escaping from the game,
The rule becomes an empty shell
That rules in only name..."
- Leslie Fish, "Zero Game"
Boycotting only works when there is a noticeable financial hit to the producer. The federal government is not going to notice this. This can be good for campaigning though. Tell people that the reason they are not getting some forgiveness is because Republicans are doing everything they can to block it. Send out some flyers to everyone who has a federal student loan with a list of every Republican official who has had a PPP loan forgiven.
I'm considering not paying as long as they're doing the "ease you back into it" stuff like not reporting to credit agencies or garnishing wages. Seems essentially like a forbearance without the interest freeze. It really just depends on what my new payments end up being. But until that dog gets its teeth back, Nelnet can have what's left after I pay my actual bills and buy my weed.
Let's get those numbers up, I'm not paying.
Great news we are now at 62.0001%
I would love this to be true, but when it comes down to it, I think most of that 63% will make payments as expected. This is just something they can tell a surveyor to make themselves feel better unfortunately.
Not from America so please someone explain to me, I read Biden wanted to forgive student loans but somehow it didn't get through. Sure it would be much better if the loan is forgiven, but now it is not, shouldn't you still pay back what is owned? They really think they can just not pay and expect no consequences?
These loans are out right predatory. I was offered a 12% interest rate 7 years ago and have friends who've been offered 16%!!!
Yes you can say just don't sign it, but we're 17 years old we can't comprehend how much affect a 16% interest rate will have on you in 8 years and you've been told all your life college is the goto life path and you have to do this to get a "good job" and live a good life.
I agree we should payback the money we loaned, but taking advantage of genz via predatory loans for wanting a higher education is downright criminal in itself.
Adding onto this a lot of us will struggle to make these payments. I have 20k in loans and I haven't paid a dime on EVER. Now I suddenly have a second car payment out of nowhere!
Of course everyone involved knows they will face consequences, but they may feel those consequences are better than the payments. Courts can't garnish paychecks that don't exist and a ruined credit rating only matters if you were ever going to be able to afford to buy a house or car in the first place. Afaik actual jail time isn't really a thing for defaulting on a loan. If the only leverage the government has to get people to pay the loan is to threaten their future financial security, then anyone who thinks the initial promises of security is bogus has nothing to lose.
There's also some people who are willing to take the hit just to send a political message.
That said, I suspect nowhere near 62% of borrowers will actually meaningfully boycott in any way.
I’m really glad I’m not going through this now, but I would boycott if I were. I fully support these people and hope to goodness they get the relief they need!
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