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Trump admin to go after pensions, wages and tax returns to claw back student loan debt
Posted on 4/22/25 at 3:04 pm
Posted on 4/22/25 at 3:04 pm
LINK
quote:
The Trump administration announced Tuesday that it would seize wages and go after the pensions of those who refuse to repay federal student loans they defaulted on.
“The government can and will collect default in federal student loan debt by withholding money from borrowers, tax refunds, federal pensions and even their wages,” White House press secretary Karoline Leavitt told reporters in her weekly briefing.
quote:
The White House will restart the federal government’s “involuntary” collection program — that was paused under former President Joe Biden — on May 5.
The number of individuals defaulting on their student loans could reach 10 million in a few months, the Education Department said in a statement on Monday — accounting for 25% of federal loan portfolios.
quote:
All borrowers who have defaulted on their loans will receive a notice in two weeks informing them of the upcoming collection process.
“American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies,” Secretary of Education Linda McMahon said in a statement.
“The Biden Administration misled borrowers: the executive branch does not have the constitutional authority to wipe debt away, nor do the loan balances simply disappear.
18
Posted on 4/22/25 at 3:06 pm to Major Dutch Schaefer
I make my tech school payments, frick those people that dont pay, time to meet Mr. Accountibility.
Posted on 4/22/25 at 3:06 pm to Major Dutch Schaefer
Posted on 4/22/25 at 3:07 pm to Major Dutch Schaefer
quote:
“American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies,” Secretary of Education Linda McMahon said in a stateme
Game. Set. Match.
There is NO other argument.
In my best Seinfeld impersonation -
You’re great at taking the money.
You’re not great at paying the money back.
This post was edited on 4/22/25 at 3:09 pm
Posted on 4/22/25 at 3:07 pm to Major Dutch Schaefer
SFP says this will do more harm to our economy than good...
Doesn't surprise me the putz would advocate for folks not paying loans back....
Doesn't surprise me the putz would advocate for folks not paying loans back....
Posted on 4/22/25 at 3:07 pm to Major Dutch Schaefer
SFP says this will destroy the economy. People should just get free college so they can be “educated”
Posted on 4/22/25 at 3:10 pm to Major Dutch Schaefer
My favorite comment in that NY Post story: how overdue are you if you’re collecting a pension? 
Posted on 4/22/25 at 3:10 pm to Major Dutch Schaefer
Who the frick has a pension with a student loan LMFAOOOOOOOOOOOOOOOOOOOO
Posted on 4/22/25 at 3:10 pm to Major Dutch Schaefer
There goes 10 million potential future JD Vance voters
Posted on 4/22/25 at 3:13 pm to The Maj
quote:
SFP says this will do more harm to our economy than good...
I mean... I think people ought to pay the loans back but there's no question that this would not be great for the economy also.
Posted on 4/22/25 at 3:13 pm to Major Dutch Schaefer
Get the nerds to hack their Starbucks cards and when they go to pay it gets taken out of their account and put on their loans.
Posted on 4/22/25 at 3:13 pm to jizzle6609
quote:
Who the frick has a pension with a student loan LMFAOOOOOOOOOOOOOOOOOOOO
Parent PLUS loans? Terrible idea, but the loan is in the parent's name to pay for their child's college.
Posted on 4/22/25 at 3:14 pm to Major Dutch Schaefer
quote:
the Education Department said
Why do we care what this department says again?
This post was edited on 4/22/25 at 3:14 pm
Posted on 4/22/25 at 3:14 pm to Major Dutch Schaefer
I can't really believe the feds have let this slide for so long. You don't pay your taxes, they come for you. Why in the world would a student loan be different?
Posted on 4/22/25 at 3:14 pm to KiwiHead
People expecting student loan forgiveness were never going to vote for Vance.
Posted on 4/22/25 at 3:14 pm to atlgamecockman
quote:
this would not be great for the economy also.
So, we should just encourage everyone to default on their loans? If you borrow money, you need to be prepared to pay it back...
Posted on 4/22/25 at 3:16 pm to Major Dutch Schaefer
That would require a judgement, right? As soon as there is a judgement it is dischargeable through bankruptcy. I think Trump is off on this one. I don’t think they will collect any more. They will just give those who defaulted an out after 7 years.
Posted on 4/22/25 at 3:17 pm to LSUconvert
quote:
Why do we care what this department says again?
Because there is a new sheriff in town (Linda McMahon) and she's trying to correct some of the most egregious policies the Dept of Education had implemented over the past few decades before sunsetting the whole thing.
Posted on 4/22/25 at 3:17 pm to The Maj
The two things are not mutually exclusive... objectively, less money in peoples pocket to spend slows growth. It's not either/or.... obviously if you borrow, you should pay it back. Garnishing wages isn't gonna help someone pay it back faster at the interest rates they're charging ha
Posted on 4/22/25 at 3:17 pm to DakIsNoLB
quote:
quote:
Who the frick has a pension with a student loan LMFAOOOOOOOOOOOOOOOOOOOO
Parent PLUS loans? Terrible idea, but the loan is in the parent's name to pay for their child's college.
Its such a bad fricking idea it never crossed my mind.
They deserve everything coming to them and I want every penny back even if it puts them out on their arse now.
If you were that stupid you deserve this.
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