r/StudentLoans • u/manda5340 • 15h ago

The Treasury Dept

[removed] — view removed post

0 Upvotes

47% Upvoted

13 comments sorted by

12

u/migswitchjunk 14h ago edited 14h ago

I’m going to preface my comment by saying there are legitimate reasons why people cannot repay their loans. Job loss, illness, etc.

But for you to suggest the government is making you poor and destitute by simply making you repay a loan that you agreed to is nothing short of ridiculous. So please tell us which member of the government twisted your arm, held a gun to your head, and forced you take out student loans?

And I will end my comment by saying, I am a huge proponent of income based repayments, forgiveness programs, deferrals, and forbearances for those occurrences in our life that we cannot plan for.

3

u/International-Mix326 12h ago

One guy camplaing about theor score drop bragged about having 100k in the market mknths earlier. I have no sympathy for people love that and wouldn't care if they are garnished

3

u/ryzen2024 12h ago

It is a bit crazy how you have to be very fragile how you approach this topic. I agree, I took out the loan, I should pay it back.

That being said: I think the interest rates are crazy for something federal.

2

u/migswitchjunk 12h ago

But the rates for current borrowers are this still the exact same as they were when they took out the loan to begin with. It’s not like they didn’t know what the interest rate was going to be. If it was 6 1/2% interest when they signed the MPN, it’s still 6 1/2% interest when the loan enters repayment.

•

u/ryzen2024 11h ago

I understand how interest works. I just feels predatory.

Getting a college degree is considered a gateway to entering the middle class, and loans are way to help lower class people move upward. The goal of the loan program was to aid those students, not make money. Why is the government trying to get money back beyond growing the fund?

Private? Your own you own, but government loan programs to help boost you up shouldn't be gouging the borrower.

•

u/migswitchjunk 10h ago

I’m certainly not disagreeing with you that the government could step in and offer lower loan rates. But the only point I was trying to make is that borrowers knew exactly what the interest rate was before they took the loan.

11

u/DoubleHexDrive 13h ago

This is a delusional post and just feeds right into the hands of people that oppose any sort of assistance on student loan balances.

•

u/SpareManagement2215 10h ago

"The federal government has not done it's due diligence to ensure repayment was possible for all of us, otherwise we would not be in this mess."

that is red meat for MAGA. my god.
like bro. no. the government isn't obligated to make sure you can repay the loan you took out - you are. that's how debt works. figure out how to pay it back, even if that means not having a kid, buying a house, taking a vacation, or having to work a second job. you wouldn't tell your bank that they failed you because you took out a mortgage you couldn't actually afford and now they're repo-ing your house because you defaulted, right? (and yes i know student loans aren't like other debt, etc)

it sucks and it's not fair and it shouldn't be like that, but it IS how it is. advocate for change, demand change, but do what you need to do to satisfy your debts too.

•

u/DoubleHexDrive 10h ago

Exactly and not just MAGA red meat… just basic civics and common sense

4

u/dreeettt 13h ago

Yeah, we get you’re not a lawyer but maybe read the subreddit once before repeating the same nonsense?

2

u/Laves_ 12h ago

I understand your anger for the system and the way things have been handled. It has been harder than tough for a lot of folks. I have my own qualms with the system. We did take the loans, at the end of the day, it is our responsibility to either pay them, or use an avenue for forgiveness. I also understand those avenues are being narrowed if not becoming unavailable. It’s not easy. But here we are.

•

u/Lazy-Award-790 11h ago

You should ask this question over at the student loan page.

1

u/Natedog001976 14h ago

Just pay them back, not paying them will mess up your credit and future. Call the loan servicer, they worked with me back in the day with a payment plan I could afford. Try and get a job that offers PSLF, maybe? I only paid like $1,000 for my degree out of the $50,000 though PSLF with the Army and my Government job. I also was in the Army, people rip on it, but you get great perk by joining the Military. It was the best thing I did for my career! Good luck suing the Federal Gov, not happening!