Widespread Student Loan Failures EXPOSED During Senate Hearing

[@RandyDuby]

So we can forgive all the airlines, auto industries, and wealthy elites debts of billions, but not the average American who actually supports this economy?

[@zbyte64]

Well that's because if billionaires didn't make as much as they did they wouldn't innovate. But the average American needs to make as little as they do or else they wouldn't work hard. /s

[@Sweatersith]

Bailing out airlines, auto industries, and wealthy elites debts of billions and all the other industries is capitolism. Bailing out Citizens is communism. Just give it a little more time to trickle down.

[@tylerhackner9731]

Cancel it all

[@toneyingram732]

MTG and boebert don't want that because the government gave them money and they don't want the poor people to have nothing

[@rbmindful]

Amazing how many of our modern problems have their origins in the Reagan Administration, this being one of many. A President who paid maybe $50 a semester for his college just couldn't stomach that students could get cost-free assistance: By God, they need to pay. Reagan launched us into an era of debt that we have never recovered from. I could go on for some time, but space doesn't permit. Reagan was the ultimate corporate shill and a fraud.

[@someoneoncesaid6978]

As someone who had their student debt that dated back to the mid-80's canceled by Biden, I agree. But, it's also short-sighted. We also need to protect current and future students from ending up in the same situation in the coming decades. We need to fix the overall concept of going into massive debt to get an education in order to get a decent job. The government needs to be giving out more grants that don't get paid back and only doing loans for college expenses that are above certain (very high) thresholds.

[@alanparedes2034]

As someone who paid off all the student loans, I agree. Cancel it all.

[@HammerStudioGames]

Astounding we're still debating this. Make school free. All of it. College, trade school, certifications, all of it.

[@robstan9874]

"Free"

[@goose7378]

​@@robstan9874Free at the point of service.

[@darksaint0124]

How are you going to pay for any of it. Should we make college professors slaves? What about general faculty? My problem with these questions is that people don't really engage, they just say some feel good platitude that has no real world application.

[@doesntmatter3902]

@@darksaint0124 You know that's a good point. While were at I don't see why we should keep letting these entitled little gradeschooler's slide either. I've been going to school board meetings to demand that the children start bringing in money and stop leeching off us but no one wants to listen. btw their macaroni art doesn't sell for shit, believe me I tried!

[@shawnp93]

@@darksaint0124 No its called a progressive tax plan, get your head out of the sand.

[@dmike3507]

Education exists to benefit society. Society needs trades workers, nurses, doctors, teachers, and all manner of other types of professionals for the economy to function. It should all be tuition-free.

[@jusletursoulglobaby]

at one point, we understood that. then... we didn't.

[@TractorBeam]

capitalism: where grift is job 1

[@jilliancopeland6825]

If corporations want skilled and educated workers then they should be paying for them, not the people who are bringing those skills to their business and helping fill their coffers.

[@haileys5371]

Reminds me of how slave holders wanted and received compensation when slavery was abolished!!! Despicable!

[@chriss.8349]

New aged share cropping

[@holdenmuganda97]

They often did.

[@jeffsmalarz7943]

No middle men. College should be free or at least affordable but these companies shouldn't exist.

[@gamineglass]

I have my loans with Mohela. They cannot get any billing correct.

[@Twonicus80]

Student debt shouldn't be a thing.

[@alwayswannarun]

I have MOHELA. They screwed up transition to the new SAVE plan. I was billed more than double for first bill after pandemic before it got fixed thanks to government oversight.

[@DarkMaths]

Had to deal with Mohela. These scumbags literally refused to count payments toward public service. I had them take over my loans twice when I tried to get away from them. Probably added at least a year to my payments. There’s not a low enough pit in hell for these people.

[@KevinBauman]

What is presented as a public/private partnership is really public dollars funneled to well connected individuals, at the expense of the students, and the public. I would call this a plutocracy.

[@erick3614]

RICO is how you bring this monster to its knees. A federal and state level RICO investigation is how we fix this problem.

[@ToxicAudri]

Only way we are going to improve this country is if we take it back from the hands of the greedy few.

[@XShrike0]

This is the problem when trying to use the current capitalist system to solve a problem. If the problem gets solved, then the reason for the system doesn't exist. So the system is incentivized to never solve the problem.

[@dimimegesis]

so when will there be real accountability? never.

[@toneyingram732]

In hell ultimate price

[@elisawhitman8526]

Remember, just the amount by which defense spending increased from 2022 to 2023 could fund a year’s worth of college tuition for all American students. The U.S. can absolutely afford to make college free. Preserving the debt economy is a choice politicians make to increase wealth inequality.

[@Robert_Bob_Bobrob]

Student debt relieve is important but only a bandaid solution. Higher education needs to be affordable or better yet free if you don't want a society of idiots.

[@0ldar]

For a democracy to function, the population must be educated.

[@gateauxq4604]

They want a society of idiots tho or else too many people will see that this county is an actual house of cards.

[@philipvipond2669]

*if you don't want a society of Trump voters. They do. That's exactly what they want. Why do you think they keep demonizing higher education?

[@philipvipond2669]

@@moonlightfishin4113 No, free to everyone. Not just you.

[@philipvipond2669]

@@moonlightfishin4113 I did too. What does that have to do with anything? Don't let "them" tell you you aren't a bottomfeeder, just because you survived when others didn't.

[@TurtleTimeVoiceOvers]

It’s called The Poverty Penalty.

[@jamestaylor3805]

The loan industry in all it's forms is exploitative and needs dismantled in it's entirety. Such mechanisms which allow an entity to take literally unlimited funds from you needs strict government oversight.

[@toneyingram732]

Do anything to keep the poor people down

[@toneyingram732]

@@moonlightfishin4113 yeah right people like you will do anything to keep them down

[@georgesears934]

Mohela should go to MoreHella.

[@1monki]

The world is changing so quickly now, who can say that the field you spent tens or hundreds of thousands of dollars to enter will even exist in 10 years? There's no guarantee that an active job market for your education won't hit some new technology that greatly reduces job prospects. The state only guarantees students will spend decades paying back their education loans, not that these students can use that education to do it. When graduation day passes, the debt is the only guarantee students get.

[@reddburg]

The private sector is not more efficient than the government. we keep seeing this. We pay taxes to receive services. Private entities stand between the people & these services while adding costs to feed profits & executive pay.

[@fvgbe342]

Thank you majority report. For not interrupting a speaker every five seconds to avoid copy right strikes. Or making a snarky remark every five seconds.

[@Chazreal]

Can't cancel student debt, that runs contrary to the first two authoritarian principles; first keeping the working class economically desperate, and second, keeping them ignorant as possible.

[@solarpixiejournals]

The wait time to speak to an agent at ALL of the loan services is very high. Because of the culture at the loan servicers, and their focus on call metrics, if you are able to afford to sit on the phone during business hours and actually get a person to help you, it has been well documented that they will often just hang up on you if the call will take them over their metric goal. Just cancel it all.

[@badrhetoric5637]

Well said.

[@noahballard2403]

My loan is through them. I haven't given them a cent because they are truly a scam. They wont even keep you updated on what your loan amounts are. I plan on sitting on that debt till i die if the government doesn't do anything.

[@Redsdaughter2]

No pressure he's been working on this issue Every time the courts denied the progress Continuously starting newer programs 🎉

[@texasgermancowgirl]

I still haven’t figured out the log info for Mohela, they’ve been next to useless and almost don’t want to be paid

[@tai31415]

$400,000 for a four year degree is just gross. No wonder the younger generation cannot afford to get a house. They already have a house worth of debt before they even enter the workforce...

[@Osgood913]

Why is nobody's in freaking prison????

[@danielmikula1375]

It's always frustrating to try to point out to people that social safety nets and public education make for more financial independence and entrepreneurship, arguably the most popular goals that self-proclaimed capitalists support.

[@Villaintrigue]

The only thing I learned is there is no scandal that will ever cause change for the better, as long as money can be made, student loans will never go away. The government never cared to begin with and it’s foolish to think that will ever change. Especially with a Supreme Court that will just make it up to benefit their friends.

[@samuelrosander1048]

Right wing response (recycled from every other issue): Personal responsibility. You don't deserve anything. You have to work for it. If you don't like it, buy/make your own business. You can't be an honest right winger (capitalism is a right wing system. So is the government type called "republic." Both are strictly hierarchical, keeping those at the bottom with no real power while protecting those at the top from them) without outing yourself as a monster...and liberals, moderates and centrists are all right wingers; they're just not as far right as others...at least until the moral panics start.

[@geared2cre8]

Emma, you're such a nerd and a beast ❤ love it

[@gsnaponfire]

I lived with my parents for 4 years paying off student debt and I only paid off half of it. In total I have paid double what I originally borrowed and I still owe federal. I was praised for sacrificing 4 years of my life in a small town living with my right wing fundamentalist parents. However this is the same time I deconstructed religion, realized I was trans, and then got into credit card debt just so I could move out and escape my toxic home life. It took me years to recover and I’m still dealing with trauma. During that time I was sexually harassed and professionally abused by a colegue. There’s more I don’t want to share, but this student loan system is responsible for pushing me into a trap and holding me in it.

[@Therian_Puppy]

In most civilised countries the people pay taxes and get cheap schooling and social safety nets In America the people pay taxes and get basically nothing

[@Therian_Puppy]

@moonlightfishin4113 i live in iceland lol but to answer your question about americans its because its really friggin expensive to move and depending on circumstances impossible to save up money

[@Therian_Puppy]

@moonlightfishin4113 they also say its the land of the free but you can get arrested for being too poor in the wrong place

[@Therian_Puppy]

@moonlightfishin4113 a little bit i just have a superiority complex since my country has higher standards of living and cares far more about the avarage citizen The American government does not serve the people like they claim

[@Therian_Puppy]

@moonlightfishin4113 you are referring to the guy who punched a cop in nyc right? Did you see the bodycam video of the cop harassing him for no reason before the incident? Nobody would assault a cop if they were a migrant, illegal or not since getting arrested means deportation or worse its why they have one of the lowest rate of crime. Why would they risk that when it took so much effort to get in?

[@Therian_Puppy]

@moonlightfishin4113 i hope he fixes the broken LEGAL immigration pathways so people wouldnt have to jump the fence

[@ericzommer5581]

Do the right thing.. get your education and then stiff them. They can't take the knowledge away and the credit system is nothing to worry about if you dont have credit or care about it.

[@jusletursoulglobaby]

😂 I like that idea, but cant they garnish wages?

[@anthonydelfino6171]

11:00 thing there is, too, if you're not well off, you simply can't attend Vanderbilt. There's a limit to how much you can take out in student loans, and at $100,000 a year, you'll hit that, most likely, within just the first year attending (depending on if and how much they raised it from when I was in school) The cap then was $60,000 which I hit right before my final semester, and that combined with some life events out of my control meant I had to drop out before actually finishing my degree. Now I've to date paid back over $90,000 with the department of education saying I still own another $18,000. By the time it's paid off I'll have paid back over twice the amount I borrowed. I share that just to show how predatory these loans are.

[@twain3074]

IF you hunt up John Oliver's program about student loans (from LWT about three weeks ago) you will learn more about the student loan issue than you ever will by watching politicians yammer.

[@billybigwig1154]

Love the show. Left is best.

[@someoneoncesaid6978]

I'm not opposed to student loans, but they should be zero interest, time constrained, and income contingent. The government shouldn't be profiting off of loaning money to future generations of our workforce. The workers should be released from student debt in a timely manner so that they can get married, buy houses, start families, and so on without the debt hanging over their heads for 20+ years (some into their retirement). The payments should account for _all_ living costs and not just go by gross income, so that people who live in areas where rent / mortgage, groceries, and other basics of living cost more then that's taken into account when calculating the amount of the payments. And, finally, the bankruptcy laws need to change to allow student loans to be included, so that if people have a major medical situation or something they're able to get out from under it and get back to being productive members of society instead of having their credit ruined further by debt they can't pay but can't get rid of.

[@ANonymouse-md4be]

Socialism and bailouts for the rich and affluent, capitalism for the anyone making less than 50k/year

[@jabik9895]

Predatory practices exist within the perfect, shining capitalist system?!?!? Wha wha whaaaaat?!?

[@xursssulaxx]

mohela literally has 9 out of 10 of my student loans on a 10 year payment plan, but the other one they put on a 1 year payment plan bc they did their math wrong and divided the total ($10k) by 12 months instead of 120 months so the monthly payment is insane and i’ve reached out n haven’t gotten any response🤪

[@warlockpaladin2261]

I blame the tyrant, George W. Bush.

[@nattyw495]

Just make college trade schoool free..

[@elbruces]

At least through the trade school and community college (Associate's degree) level, as well as other equivalents.

[@JosephJamesScott]

Pundits on the right love to cite diversity for a drop in quality and competence of care. Who do you suppose is going to be the more competent doctor? The absolute best and smartest minority group that had to work and scrape to get ahead or the kid of some kind of generational wealth who gets to go to university because their family has money?

[@diggysoze2897]

Weird title. Good content.

[@digital_0630]

God, Emma is so attractive when she gets passionate about an injustice 😍

[@justbobagian]

Mohela has my loans, sucks

[@TraJonR3D]

Right now, i cant trust anything or anybody. Gov'ment? 😂 I dont trust the people who run the gov'ment. THE PEOPLE... because of those people, i cant trust the gov'ment. EAT.. THE.. RICH

[@kevinflynn5388]

So glad I finished paying off my student loans. Hope everyone else finds relief.