Congress would never permit that - it’d have a domino effect on an economy that’s still struggling to emerge from the problems introduced by the covid pandemic. no, the reality is that people that have loan payments coming due are going to have to pay them or watch their wages get garnished (probably the latter, they’re not capable of making intelligent decisions, after all).
maybe, just maybe, this will be a moment of realization for some of them and they’ll learn from their mistakes. might be a pipe dream though!
You’re right, but I don’t think congress would permit it simply because it would also tank their investments. The smarter play would be to grandfather-in existing student loans, and make all future loans susceptible to bankruptcy - but that would also have its own knock-on effects. Either way it’s a shit sandwhich that should have never existed in the first place.
Congress would never permit that - it’d have a domino effect on an economy that’s still struggling to emerge from the problems introduced by the covid pandemic. no, the reality is that people that have loan payments coming due are going to have to pay them or watch their wages get garnished (probably the latter, they’re not capable of making intelligent decisions, after all).
maybe, just maybe, this will be a moment of realization for some of them and they’ll learn from their mistakes. might be a pipe dream though!
You’re right, but I don’t think congress would permit it simply because it would also tank their investments. The smarter play would be to grandfather-in existing student loans, and make all future loans susceptible to bankruptcy - but that would also have its own knock-on effects. Either way it’s a shit sandwhich that should have never existed in the first place.