CNBC:
In March, as it rapidly became clear that the coronavirus pandemic would upend our lives, the U.S. Department of Education offered student loan borrowers a break from their monthly payments.
They accepted.
Less than 11% of people with federal student loans are repaying them during the pandemic, according to data analyzed by higher education expert Mark Kantrowitz. That means about 4.6 million out of 42 million borrowers are continuing to pay down their debt.
The government’s so-called coronavirus forbearance on federal student loans has freed up money for basic essentials for many borrowers, many of whom have seen their income dry up due to the public health crisis. It’s also given people a window into what life would be like without education debt. more here
fewer
When can this country dispense with all this college fraud? NO more “student” loans period.
I get it about home loans. At least there is something real that the loan is for.
If politicians were running around screaming for student loan forgiveness and free college when I had student loan debt, I wouldn’t have ever paid back a single penny.
No wonder there’s a cumulative $1.6T in student debt, the kids are not incentivized to pay.
Bush LIED! I and 17. of my kin worked the fields to pay for college!
I have no empathy, nor sympathy, for lazy kids who borrowed rather than work!
As an undergrad I: : washed dishes., worked the switchboard, worked registration (60 years ago it was a week long agony),”bus boyed” to get $.
As Abe said 170 years ago, “I never saw a man who died from hard word; but saw many scard to death of it!”!
actually I’m surprised the paybacks are that high … bravo to the 10%!
Compared to the 12% before covid.🥴
If you get a scholarship to a good school, run with it, get an EE, ME, CIS, or other relevant science degree. Otherwise, worst investment ever. I mean, paying off a loan for a transgenderism degree?
Hi mom, hi dad, I’m home!
Pallets of bricks and gasoline to fill Molotov cocktails cost real money, dude. My student loans to try to get laid? Coed lateral damage.
And renters aren’t paying rent. Apartment complex Mortgages are still due, taxes, other expenses. The renter debt is getting insurmountable and there is no help. Oh, I forget, landlords are now able to add late fees. How helpful.
All while congress fiddles around figuring ways to add pork to their roasting of Americans.
Our maintenance man had a great idea. The senate pass a clear bill (no pork or state relief) getting relief to Americans and send it to the house. And do something to help landlords.
So CNBC is trying to say that only 11% of those with student debt continued to work thru the dem panic? Bull shit. Typical CNBC propaganda, to try and convince the weak minded that If the government would forgive student debt It would be great for the economy! Pure B.S. (Bernie Sanders).
The holders of that debt should be able to claw back the money from everyone involved, starting with the college and staff and their pensions and including any former students with money (which would be mostly the ones with .gov jobs).
In other words the feds should confiscate everything owned by everyone involved in the college scam of grants and loans – make sure no one ever again gets such a fascist idea as throwing .gov money at the education industry.