They might actually do accidental debt forgiveness - ThreadSky

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chioroplast.bsky.social • 16 days ago

They might actually do accidental debt forgiveness

BREAKING— Trump’s executive order dismantling the US Dept. of Education just dropped.

“Closure of the Department of Education would drastically improve program implementation in higher education.”

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nikolajbill.bsky.social•16 days ago

Hoping for debt forgiveness instead of the other likelihood they give it all to Wells Fargo who starts taking out student loans in our names without us realizing it.

pnwdude18.bsky.social•16 days ago

no they have already clarified that they will still be empowered to collect loan debt

chioroplast.bsky.social•16 days ago

Applogies, my implication is that they will fuck it up and break the system in the chaos. They are incapable of building, only destroying. Plus, if they pass it to the states, does that mean states can do loan forgiveness? I don't think they're capable of pulling this off

chrisfleming.bsky.social•16 days ago

One of the ideas they've floated is canceling everyone's repayment plan and only offering full payment plans with no forgiveness

chioroplast.bsky.social•16 days ago

Full payment as in you have to pay it all at once?

chrisfleming.bsky.social•16 days ago

No it would be similar to their current ten year repayment plans

chioroplast.bsky.social•16 days ago

Economies love it when you do that

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