Many student-loan borrowers are refusing to re-pay their loans; 'Joe can just forgive it'

Waaaa!  I borrowed $100K to get a __studies degree and I shouldn't have to pay it back, cuz...um...*it's just not FAIR!!*

Some actually claim it "a matter of principle."

People who borrowed money for college were given a huge break when Democrat governors locked everything down when duh Chyna virus hit: the Feds said they didn't have to make monthly payments on those loans while the "emergency" continued.

With the emergency long over, repayment is to resume in October. But a growing chorus of borrowers say they don't want to re-pay.

Amanda Acevedo, 37, has $40,000 in student loans. For the past three years she didn’t worry about monthly loan payments.  That forbearance enabled her to pay off credit card debt and save for a down payment on a house.

But now, with inflation driving up the cost of everything, from utilities and food to gas and car payments, she says she can’t pay the $412-a-month that's due on her student loans.
More interestingly, she says she doesn’t think she should have to.  “Millennials like me have gone through so many economic crises and watched these corporations and banks get bailed out.  Meanwhile we can’t pay the student loans we were told we needed for success,” she said. “We're telling our elected representatives we're struggling, but they’re not doing anything to help.”

Wow.  Can you say "entitled"?  'See, when dey tol' me I could get dis money fo' college, I thought dey was jus' givin' it to me.  Dey din' say I had to pay it back!'

To keep student borrowers voting Democrat after the Supreme Court loss, the Biden administration has instituted a one-year "leniency program," to "protect borrowers’ credit."  Every borrower with a brain recognizes what's really happening here: keep refusing to pay and the Dems will find a way to--as the Media always put it--"forgive the loan."

So voters are cunningly persuaded that the loan "just vanishes."  Cool!

But even with the new leniency program, student borrowers are wailing on social media that it's just not FAIR after the Supreme Court’s decision to strike down what Bloomberg calls "biden’s one-time loan forgiveness plan.

There that word "forgiveness" again.  And anyone who thinks this is a one-time deal likely believed the Dems who swore back in 1985 or so that pushing Reagan to give "amnesty" to ten million illegals back was just a one-time deal.  "Really! Trust us!"

Shahem Mclaurin, a 29-year-old social worker in New York City, borrowed $150,000 to get a master’s in social work at NYU.  Now he says borrowers should refuse to make loan payments as a form of protest.

Yep yep yep.  See, Shahem thought dey wuz jus' givin' him duh money, no payback needed.  
Mclaurin says he was taught that education was one of the only ways to get out of poverty.  "Now he's saddled with debt," says Bloomberg.  It's a form of oppression, surely.

“I did everything right,” he says.  “Now I'll have a looming debt hanging over me for the rest of my life.”  Nah, duh Democrap party will "forgive" duh loan.  It not a bribe or nuffin.

Under the "leniency program" borrowers who don’t make any payments thru Sept. 30 of next year won’t be considered delinquent, reported to credit bureaus or referred to debt collection agencies.

Bloomberg then helpfully hints, "That means skipping a payment to prioritize other debt and expenses might make sense, financial advisors say."  That's useful because during the lockdowns many student borrowers took on other debt such as credit cards, auto loans and mortgages.  Much of that debt is likely at a much higher interest rate than student loans, meaning people will repay the higher-interest loans first.

“Late auto-loan and credit card payments will hit their credit reports today, but student loans won’t, thanks to the [diversion program].”

Source.

https://www.bloomberg.com/news/articles/2023-08-02/student-loan-payment-delay-some-borrowers-refuse-to-pay-bills