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student loan payments are capped at 10% of discretionary income and student loan borrowers can receive student loan forgiveness after 20 years
Pathetic!
I paid off $48k in a little under two years. Worked two jobs and lived in an apartment with a roomate paying $500 a month rent.
And people are stupid.
Again, attending 2 years jc and 2 years California state school will leave one with appx $20k in debt, all inclusive, less than the cost of the average new car.
If one wants to major in art history at a UC or private school....it’s their funeral as far as I’m concerned.
One might think that delinquent debt is a bad thing for the lenders, but not really. Student loan debt cannot be discharged except by death. Banks asked for this change and got it, in 2005 or so. This gives banks control over the lives of millions, able to garnish their wages, turning them into servants who are well and truly fucked.
Wealth is servants.
People are forced to serve when they have debt. The German word for debt is the same as the word for guilt: Schuld
Guilt calls for punishment.
The government makes laws that benefit lenders and punish borrowers.
The purpose of making student loan debt non-dischargeable was simply to create millions of servants for bankers.
Eventually there will be a violent revolt.