Your Economy (No Politics)

[bobirw]

With this administrations obsession for promoting and protecting "big business", I wouldn't be suprised at anything in the new BR rules short of the firing squad. Lobbyist now head most of our federal agencies & they are not pro consumer. I was watching some financial advice program couple days ago & student loans vs BR came up. Seems the lenders don't bother much for a few years because they know their getting paid and a few years of missed payments with penalties & interest can turn $30,000. into several hundred thou pretty quick. When the lender decides to collect, there is no protection. They can garnish your wages, they can collect any govn. payments you have comming like tax refunds etc. And I'm not sure about this but assume they could collect your social security retirement check or part of it. Blew my mind, I always heard of people never paying student loans but that is no longer the case. And students are anyone of any age agreeing to pay for any type schooling. Lenders paying those lobbyist or agency heads got their moneys worth. imo