The roller coaster ride for borrowers enrolled in a key affordable repayment plan continues.
On Monday, the 8th Circuit directed a district court to approve Donald Trump’s proposed settlement with the state of Missouri to eliminate the SAVE student-loan repayment plan.
The plan has been embroiled in a legal back-and-forth for years. Most recently, a district court declined to rule on the proposed settlement, which some advocates and lawmakers saw as a win for borrowers and urged the Department of Education to carry out relief under SAVE.
However, the 8th Circuit’s ruling means that, once approved, the department will move forward with the settlement and require enrolled borrowers to transition to a new plan.
What if we all just refuse to pay? We have rent strikes, labor strikes, let’s do a loan strike. Fuck this shit. Can’t use the degree anyways because AI is fucking up the tech space.
I’ve been suggesting a debt strike for a long time and nobody ever thinks it’s a good idea.
It’s a good idea but it needs broad support. Like physical strikes, they have tools of oppression at the ready - your credit score will tank meaning among other things your ability to get housing is affected. That’s a pretty serious, heavy threat. Millions of people need to join in this for the system to be overwhelmed enough. So start talking about it more, IRL too.
People like the idea they just don’t think it’s realistic, which is paradoxically true only because they all think that way.
way ahead of you, compadre
What if we lived debt free in the first place?
Federal debt is subject to wage garnishment. They can just take it out of your paycheck if you don’t pay
Yeah I was coming to say the same, also I’m sure it’s automated so as soon as they dont receive the payment the timer starts before it sends the letter of wage garnishment. So this most likely won’t work unless your working under the table.
They can’t take it out if it is under the table or if you don’t work.