We know how hell-bent President Joe Biden is on buying the youth vote with student loan forgiveness, which has been ruled unconstitutional and leaves it up to non-college-educated taxpayers to bail them out. During the COVID epidemic, the Biden administration placed a hold on student loan payments so those who lost their jobs due to lockdowns would have some breathing room.
The COVID epidemic is over and so is the pause in student loan repayments. But a lot of borrowers haven't seemed to have picked up on that. Around 40 percent of borrowers missed their October loan repayment.
Whoa. 40% of all federal student loan borrowers—at least 8.8 million Americans—missed their student loan payments last month. pic.twitter.com/ZrmJAWGXrF
— Austen (@Austen) December 17, 2023
They knew the pause wasn't going to last forever, right? Most of them probably thought Biden had forgiven their loans.
Wow
— Elon Musk (@elonmusk) December 17, 2023
Yeah, that checks out.
— Dan Hightower (@DanHightowerJr) December 17, 2023
When the govt creates a perception that this debt can magically disappear if the right person in power says so.... is it really a debt that you HAVE to pay?
considering all the flirting with forgiveness that the government is doing many are probably waiting to see what happens
— Fareesh Vijayarangam (@fareesh) December 17, 2023
They're taking gamble that there are no consequences. And it's a pretty good bet.
— Jerry Curlan (@WorkforLife3) December 17, 2023
Watch unpaid student loans get removed from credit rating calculations.
This was expected.
— Gaurav Sharma (@Gaurav1105) December 18, 2023
There's no penalty for it right now is why. Interest builds up, but it is still effectively deferred due to no credit hit and no default.
— Dan Davis (@DanDavi47038421) December 18, 2023
Those 40% really think Biden will forgive their loans.
— Namtoshi (@Namtoshi69) December 17, 2023
They wait long enough, Uncle Joe will take care of it.
— dcnh (@dcnh42) December 18, 2023
40% are betting that Biden will forgive them or at least not do anything to people that refuse to pay.
— Trendoshi.eth (@trendoshi) December 18, 2023
Bidenomics about to get real.
— Reality Czar (@TaintMcG) December 18, 2023
I say we should also stop paying all taxes.
— Jessie (@jessrock58) December 18, 2023
The number will grow monthly.
— Kelly Marie (@hopki80849) December 18, 2023
We were told there would be a free $10k
— Bye Jerry Sullivan (@ByGerrySullivan) December 18, 2023
I have been paying mine back, but I know people who can't. You gotta pay for the life you live now (food, rent, transportation, clothes, etc) before you can pay for the past.
— Sarifel-Corrisafid-Ilxhel (@Sarifel1) December 18, 2023
That's Bidenomics!
Some are saying they just forgot to restart auto-pay, but if we had a president dangling loan forgiveness in front of us like a carrot, we too might take a wait-and-see approach.
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