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Sun May 12, 2019, 05:31 PM

U.S. Stepping Up Enforcement on Delinquent Student Loans

U.S. Stepping Up Enforcement on Delinquent Student Loans

from Bloomberg:
[link:https://www.bloomberg.com/news/articles/2019-05-12/u-s-stepping-up-enforcement-on-delinquent-student|]

Your rich Uncle Sam is calling in his chips.

The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year -- or an average of $1,000 from 2.9 million former students and their cosigners, according to the Treasury Department. And the trend continues. In the first six months of fiscal 2019, which started Oct. 1, collections totaled $3.3 billion.


Gotta harass students to cough up in order to fund tax cuts for billionaires.

Key Insights
The Treasury Department may withhold federal income tax refunds, Social Security payments (including Social Security disability benefits) and more
State tax refunds may be also withheld and applied toward repayment of a loan

State drivers licenses or other state-issued licenses may be confiscated

A borrower's employer may be ordered to withhold up to 15% of disposable pay to collect defaulted debt without a court hearing



The articls also states that costs associated with collection of defaulted loans, including use of private collection agencies, can also be added to the balance due, as can processing fees and costs associated with possible civil litigation.

Wow, that's gonna be indefinite indebtedness for some people. Predator deVoid and her ilk will tack on neverending charges. We need policy changes.

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Reply U.S. Stepping Up Enforcement on Delinquent Student Loans (Original post)
not fooled May 2019 OP
Iliyah May 2019 #1
orangecrush May 2019 #2

Response to not fooled (Original post)

Sun May 12, 2019, 05:39 PM

1. USA going bankrupt

and therefore, they need to take money from people who don't have it.

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Response to not fooled (Original post)

Sun May 12, 2019, 05:45 PM

2. Elimination of the middle class


Cutting off routes of upward mobility for middle and lower class families, such as college education, thus discouraging them from making the attempt.

"Only the children of the wealthy are worthy of higher education".

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