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)
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?
Joe Biden was the Senator most responsible for making those loans undismissible. There is plenty of blame to go around.
And that was the last thing he ever did regarding student loans. 40 years ago. Nothing since. The end. 🙄
For the record, I already acknowledged what he did as president in a response to another reply. Biden was quite a bit better as president than I thought he would be (for good historical reasons) and I give him full credit for that.
That would be relevant if Biden were currently president, and it would have been somewhat less relevant had Biden even been the Democratic nominee for president in 2024.
But Biden wasn’t even on the ballot. It’s almost completely irrelevant.
When people talk like this, it just reminds me of how they talked about Hillary for Trump’s entire first term.
It just gives off the air of bad faith. We’re talking about things that are happening right now and are relevant to millions of people. Former politicians can’t be anything except a diversion.
That would be relevant if Biden were currently president
LOL, is Reagan currently President? Read what I replied to before telling me if my comment is relevant.
- Reagan did this in the 1980s, Reagan as always, was a big source of modern issues in America.
“Yeah that makes sense, he was the 2nd worst Republican.”
- Biden did this in 2005, and was okay with it until recently.
“Why are you bringing up someone who’s no longer president? Why do you hate the guy who didn’t try hard enough to fix his mistakes?”
Weird how calling someone out from a while for their actions works, but not calling someone out for their actions.
My point was that the relevance of Reagan and Biden go hand in hand. If one is relevant then they both are. We either examine the past and learn from it, or we continue to repeat the mistakes.
Exactly! Both are relevant to the topic.
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. 🥲
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.
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.
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When you make him
I saw forgive his debt in exchange for being skinned alive.
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. 😄
🥇
Didn’t this guy default on most of his loans several times?
He also ripped off contractors
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.
This cunts daddy paid for his college were he bought his degree of course he lacks empathy for normal hard working people
Gotta pay for that birthday parade somehow
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?
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MAGA isn’t educated, so that checks out.
I hope all the zoomer dudes who voted for orangeboi enjoy this delightful financial punch in the dick
Trump supporters can’t even read, much less take any kind of higher education degree
While that may be the statistical correlation, it’s not true as a blanket statement
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.
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.
You may just want the leave the country at this point my dude
I really want to keep my books. I love my books and leaving them behind would feel like death. I’ve thought about Costa Rica or a few other places. The cost of the plane ticket is unrealistic; the likelihood of getting the books over is doubtful.
I’ve realized that I probably won’t survive this administration, and I’m just going to go down fighting. I lost everything I care about, and the least I can do is try to make it so no one lives a life like mine again.
Uhaul -> Canada
Canada doesn’t want poor (let alone trans) refugees any more than any other country wants poor refugees. It’s a much more progressive country than many, but “just leave” isn’t any more of a realistic option for persecuted groups under Trump than it was for the same groups under Hitler.
Are they actually taking anyone though? Everywhere I’ve looked has been like “the us isn’t actively killing LGBT people, so we don’t count it as refugee.”
I also just simply do not have the liquid resources. I can sell some stuff - but what then? Sleep on the streets in a country I’ve never lived in before? I guess people cross the Darien gap, but I’m also just physiologically broken now. My nervous system doesn’t work correctly - I have experienced actual torture. I can’t organize a plan to finish my graduate degree, much less get across a National border.
Wait it out for as long as possible, there’s a non- zero chance that you will be accepted for asylum in the future if things keep going the way they are.
Well, by your own words the alternative is death. So if you truly believe that you won’t survive this administration then yeah, hop across the border as a tourist and just don’t leave.
Running away and giving up. Is cowardice. Don’t give these people that pleasure. We must rise n fight back. Collect yourself, prepare and just be ready. 1860s isn’t far off and if its our turn to lead a revolution then so be.
Fuck the traitor rapist felon Donald Trump. Dude deserves capital punishment for treason.
Running away and giving up. Is cowardice.
Standing proud and dying in a gutter and being forgotten because a cop decided to break your skull open for the fun of it is not courage either.
Nah I’m good. I’m watching how things play out, and if it gets that bad I’ll just rebuild my life in another country. Already got approved for Express Entry into Canada.
Yep cowards will be cowards.
Good luck.
I’m fine with being a coward - I’ve had to be brave my whole life, it’s some for someone else to fight. I’ve earned my peace.
That’s a reasonable thing to say, but not to trans people who are being actively persecuted by the US government. I cannot imagine how difficult it must be in that situation and it is the responsibility of society to stand up for trans people.
I disagree.
If you’re being targeted then you fight back. Im willing to fight and die for their freedoms but they aren’t. So people will ask themselves why should I fight for them if they dont even wanna fight but run away? Cowardice from any group is unacceptable.
Literally just bunker down and prepare yourself fleeing somewhere isn’t gonna be any better considering how so many countries are at war and there is civil unrest.
But to each their own. When the revolution begins I’ll be there. I bend the knee to no traitor fascist rapist.
So 5.3 million Americans are going to be given less incentive to work and less to lose?
This is going to be so great for the economy.
I’m told we’re going to get so tired of all the winning.
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.
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.
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.
My friend is directly impacted by this. So much winning. Thanks again Don. Really making America great
Time for the under the table economy to rise sgain
💯
Another benefit is no income tax on under the table income
