Government Garnishes $176 Million In Unpaid Student Loans Over 90 Days

Lots of talk from the candidates this year about student debt from college loans.

Hillary has some kind of plan and so does Bernie.

But it looks like the Obama Administration micro-managers are the ones focusing on the strongarm mafia style collection tactics.

Get the grades, pass the tests, go to college, rack up your lifetime debt and then not only get spit on by jealous people who hate the 1%, but get raked over the coals by the very ones who told you to get the loans in the first place when they turn you over to a college educated class collection agency who will defile you !!!!!



Government Garnishes $176 Million In Unpaid Student Loans Over 90 Days… Yes, we need you to sign up for massive amounts of debt to keep the system afloat

The cost of overpriced education continues to hit America hard. No, you don’t need a college education to be successful. Yes, we need you to sign up for massive amounts of debt to keep the system afloat.

According to a recent Market Watch report $176 million dollars in student loan garnishments have taken place in a 90 day time frame. If this pace keeps up we may see garnishments hit $704 million this year.

Get a Loan, Get Stiffed

a reply to: xuenchen

They garnished my wages. The loan though....was from 1986!!

But...at least its paid in full now. Let this be a lesson to all you old loaners.

They never forget

The idea of giving more loans was to get kids out of the job market till more of the baby boomers retired. Guess what, many decided to work later and the Employers decided not to hire people in their place when they retired. You see, their jobs could be replaced by computer technology and outsourcing to other countries.

We are letting these people turn our kids into fools. There should be many more jobs available for our citizens. We gave these jobs to other countries. We gave the money to computer programmers.

Pay your damn bills. Problem solved.

This credit society is the problem. Everybody wants it their way, right away.

Life ain't Burger King. You have to pay your dues just like the generations who came before you.

I didn't go to college until I had the money to pay for it myself. I retired at 45.

It. Can. Be. Done.

a reply to: 123143

Many college graduates actually know "Life *IS* Burger King"

Don't put your name on it, if you can't or don't want to pay it back. If the "Gov" offers a "good idea"? It's probably not a "good idea". Welcome to "civics"/taxpayer 101. "Student loan". What part of a "loan" did your knowledge and "education" escape you? Loan, means...other taxpayers financed your "education". ...you went to "school" on someone's dime. I have no feelings for these "educated" idiots.

originally posted by: murphy22
Don't put your name on it, if you can't or don't want to pay it back. If the "Gov" offers a "good idea"? It's probably not a "good idea". Welcome to "civics"/taxpayer 101. "Student loan". What part of a "loan" did your knowledge and "education" escape you? Loan, means...other taxpayers financed your "education". ...you went to "school" on someone's dime. I have no feelings for these "educated" idiots.

Here, here. Excellent post.

originally posted by: rickymouse
The idea of giving more loans was to get kids out of the job market till more of the baby boomers retired. Guess what, many decided to work later and the Employers decided not to hire people in their place when they retired. You see, their jobs could be replaced by computer technology and outsourcing to other countries.

We are letting these people turn our kids into fools. There should be many more jobs available for our citizens. We gave these jobs to other countries. We gave the money to computer programmers.

You can see this in the labor force decline, been steadily st 1% every year since 08.

originally posted by: murphy22
Don't put your name on it, if you can't or don't want to pay it back. If the "Gov" offers a "good idea"? It's probably not a "good idea". Welcome to "civics"/taxpayer 101. "Student loan". What part of a "loan" did your knowledge and "education" escape you? Loan, means...other taxpayers financed your "education". ...you went to "school" on someone's dime. I have no feelings for these "educated" idiots.

Oh yeah then what the hell are they suppose to do for a living?

The trades can't handle that kind of growth and manufacturing is dead.

Staffing agencies warehouses and service jobs are what's left.

So now what?

a reply to: xuenchen

That's the debt that never goes away. You can go bankrupt or let things sit in collection but the gov't will take their money. Tax refund? You owe Uncle Sam? No refund for you!

College debt eclipsed credit card debt some time ago and continues to rise. Talk about setting the bar. Sooner or later it'll surpass housing because no one is buying houses much, then again I don't watch the market but I have a thing called zombie houses where I'm from.

Colleges, the students, have clearly been and continue to be taken advantaged of. This system is broken, although I'm sure the few who take advantage of it love it and never want to see it changed. Clinton ain't gonna change a thing and she's only talking about it because Sanders is, but the difference is he actually would make changes.

a reply to: 123143

Problem is, kids are expected to go to college right out of high school. The schools, both high school and college, along with their parents pressure them. I remember colleges coming to my high school to recruit us. With the middle class in decay and the poor being poor the only way is a loan. A loan that every single 18 year old gets, no credit check, nothing. They don't know what they're getting into and apparently their parents didn't either.

And then there are those of us who didn't rush into college and choose to go later or not at all. It's totally doable to live at home when your 18 and get a job to pay for college. Problem is, kids usually wanna move away because lets face it, that college life is awesome! PARRRTTY!

a reply to: xuenchen

I don't know how colleges and universities get away with charging so much for tuition. You can tell they're reaping in the money to pay for all the new buildings and development of their campuses! They're pricing themselves right out of the market.

The student loan problems is going to be the main factor that's going to drive our economy into the ground. Student loan defaults continue to rise year after year. It's a huge problem affecting many families and I'm surprised only 2 candidates have addressed it.

a reply to: 123143

Student loans back than were only at 2% interest, and the average cost of tuition wasn't between $20,000 - $30,000 per year! Young people are graduating with loans equivalent to a house mortgage! When I graduated from college back in '82, my total student loan was $23,000 dollars and I attended school out-of-state! Compare that with an average student loan of $50,000 - $80,000 dollars at 5% interest! It's not only making some young people buried under huge debt, its directly affecting our economy. The spending power of college graduates is next to nothing, since most of their earned income is going towards paying off their student loan debt!

My alma matter for out-of-state tuition is now $28,000 a year, and that doesn't even include food & living expenses!

They are garnishing me right now. the cost of 2 semesters? 8k plus 2300.00 interest. I tried to contest because the courses were fraudulent in curriculum content. The curriculum materials were 20 years obsolete in information content. It was such blatant garbage, but very expensive garbage. If you own a college, you can just dumpster dive for what to give students and then charge them 5 grand for it knowing the government will back you up 150%.

Colleges and universities should unload the sports programs. This is academia not the NFL/NBA Channel.

I'm sure that would free up millions for the academic programs.

a reply to: NoCorruptionAllowed

This is why I don't want to take loans out to go to school.

Most of the information taught in colleges is available for free online.

a reply to: onequestion

Now what?..You flip the finger at the rest of the world and F'm! There's absolutely, no reason, Americans can't sustain themselves. ... We have counties the size of European "nations". There's a reason a nickel doesn't by much in the U.S.A. I'll let you geuss, the now what? On that.
Service jobs? What the F do you think a "job" is? Service jobs? A job is a "service". You ride for the/a brand! And you do it, because you said you would. Half the reason employers are lousy is they don't have no reason not to be. With this/these f'ed up excuses for Americans

a reply to: murphy22

Oh give me a break you know exactly what I'm talking about when I say service cut the crap.

people need to support themselves and they do what they can and sometimes that means taking a job they don't want for less money.

Give me a break.

originally posted by: xuenchen
Lots of talk from the candidates this year about student debt from college loans.

Hillary has some kind of plan and so does Bernie.

But it looks like the Obama Administration micro-managers are the ones focusing on the strongarm mafia style collection tactics.

Get the grades, pass the tests, go to college, rack up your lifetime debt and then not only get spit on by jealous people who hate the 1%, but get raked over the coals by the very ones who told you to get the loans in the first place when they turn you over to a college educated class collection agency who will defile you !!!!!

Government Garnishes $176 Million In Unpaid Student Loans Over 90 Days… Yes, we need you to sign up for massive amounts of debt to keep the system afloat

The cost of overpriced education continues to hit America hard. No, you don’t need a college education to be successful. Yes, we need you to sign up for massive amounts of debt to keep the system afloat.

According to a recent Market Watch report $176 million dollars in student loan garnishments have taken place in a 90 day time frame. If this pace keeps up we may see garnishments hit $704 million this year.

Get a Loan, Get Stiffed

While this might be legal its also a form of looting of the public. The question is, why is the state so desperate to get the money back when they know that a skilled workforce is a key to a successful economy?

if they have such a high rate of indebtedness over this system, why do they continue to run the scheme?

Do they advise the students and their families that student debts are not extinguished by bankruptcy?

Hillary has some kind of plan and so does Bernie.

Yeah Bernie comes right out, and calls it 'FREE' college.

Clinton plays word games, and calls it 'debt free tuition'

Same damn thing.

NO difference between the two, and instead of students getting garnished.

We all get our paycheck's garnished because there is no such thing as 'Free' in this world.

Someone has to pay for it, and under those two delusions WE ALL DO.