Linda McMahon Orders the Department of Education to Begin Collecting Payments for Overdue Student Loans, Garnishing Paychecks If That's What It Takes

Oh no, anything but this.

President Trump's education boss Linda McMahon has defended the administration's decision to resume student loan debt collections -- insisting that greedy colleges have "profited massively" from Biden-era forgiveness measures.

The Department of Education announced Monday it would start recouping federal student repayments again from May 5 from the roughly 5.3 million borrowers who are currently in default on their loans.

Mb

"Colleges and universities call themselves nonprofits, but for years they have profited massively off the federal subsidy of loans, hiking tuition and piling up multibillion-dollar endowments while students graduate six figures in the red," McMahon wrote.

"A widely cited 2015 study found that for every dollar of increased federal caps on subsidized loans, colleges raised tuition by 60 cents," she continued.

"Many of the degree-granting programs that qualify for student loans are worthless on the job market, but colleges continue to accept students to these programs and encourage them to borrow to pay for them.

"Accountability is a two-way street. As we push to hold student borrowers to account, we will also push colleges to be responsible and transparent."

McMahon insisted the administration wasn't enforcing the collections to be "unkind" -- as she blasted former President Joe Biden for dangling "the carrot of loan forgiveness in front of young voters" during his successful 2020 election campaign.

...

"On May 5, we will begin the process of moving roughly 1.8 million borrowers into repayment plans and restart collections of loans in default. Borrowers who don't make payments on time will see their credit scores go down, and in some cases, their wages automatically garnished.

"Why? Not because we want to be unkind to student borrowers. Borrowing money and failing to pay it back isn't a victimless offense. Debt doesn't go away; it gets transferred to others. If borrowers don't pay their debts to the government, taxpayers do," McMahon added.

I do feel bad for people who were swindled by the bill of goods that the Regime sold them.

But there's no way in hell we're paying trillions so that indifferent students, who really should just have begun working out of high school, can pursue meaningless degrees in fantasy fields.

Below, a lot of parasites are outraged and baffled at the concept that they might actually be forced to repay loans they took out. The first very gay gentlemen seems to believe it's somehow a contradiction for Trump to shut down the Department of Education, while also demanding that people who took out DoEd-guaranteed loans should have to pay them back.

This is just more proof that we are sending people to college who plainly will not benefit from college. And college has been dumbed-down in order to accommodate these Scholars.

In the beginning of that clip, a gay dude actually argues in favor of making people who took out loans pay them back. Plot twist! He says that he worked as a teacher in the worst schools teaching the worst kids for ten years to take advantage of a government program of partial loan forgiveness for teachers willing to work punishment details. He suggests these whiners sign up for the program and spend the ten years he did paying down his loans with sweat-equity.

posted by Ace at 03:23 PM

| Access Comments