@NEETzsche
I am so sorry for you man...
I just hope you didn't ruin your life knowing you're finally debt free.

@LukeAlmighty No I expect essentially neverending student loan shenanigans. SCOTUS is very likely going to rule against Biden in coming months, ruling against one of the few left-wing policies that I actually like.

@NEETzsche
OK.
I am just laughing knowing, that some people had to react to that e-mail by getting a car loan.

@LukeAlmighty Well the thing is, these financial institutions have an incentive to create circumstances where people who take loans out can pay them back. For example, everybody took out a student loan, a car loan, or all of the above, either wins it life, or whoever loaned them all this money loses at debt. If they can’t come up with the money these institutions flushed it down the toilet basically. If people can’t come up with the money, then one of two things happens:

Oppressive debt collection policies get implemented; bad move in a country where like half the population owns a handgun
Creditors need to suck it up; bad move in a financialized capitalism

So these institutions are going to do everything in their power to make it so did Joe Blow can just pay up every month. In response to the legal hubbub about student loans being forgiven, Biden actually extended the moratorium on these loans until mid 2023.

@NEETzsche
I know.
I don't know if I told you, but I had a friend who decided to get as much debt as possible, blow it on drugs and kill himself...

He failed to do the last part, and is a wage slave ever since

@LukeAlmighty Debtmaxxing is a hilarious practice. So, in america, student loans are one of the only kinds of debt that can't be discharged in a chapter 7 bankruptcy filing, but even within that, there's a special form you can fill out to have it discharged anyway. It's just that the standard for actually doing so is a lot higher than it is for other kinds of debt.

Now, what's interesting is that a lot of judges in bankruptcy court today are just discharging even student loan debt, and it's because there's sort of an understanding that you can't tell an entire generation of people to pound sand for the entirety of their lives because they decided to go to college on Sallie Mae's dime. Especially when they're allowed to own guns. Let's not forget that detail. I'm going to keep bringing it up, because it's always relevant when considering any oppressive policy.

So what I think is going to happen is that these companies are going to make it very easy to keep jobs that let you pay the loans but live a modest life, and also make it easy to discharge the debt if you can't. Because the alternative is dealing with an armed population that has nothing to lose. I cannot stress enough how dangerous of a move that is for any regime anywhere on this planet.

Imagine being some bureaucrat who has to tell some guy with an AK-47 that he automatically loses at life and there's nothing he can ever do to have a good one. Imagine having to tell dozens of people in this category this every day, day after day, week after week, month after month, year after year. How long do you think it will take for one of them to just shoot you in a fit of rage? It's inevitable. So they're just straight up not going to do that

@Paultron
The only kind of white men priviledge, that I can fully respect.

You learn early, that noone cares.