LETTER: Republicans in a tough spot on student loans

Student loans, a hot topic and debate, especially within red states such as Utah, Texas, South Carolina and Florida to name a few. The strong opposition towards cancellation is a very contentious issue for many people, mainly Republican or Independent but did you know that over half of all borrowers are both?

Utah holds nearly 11 Billion Dollars in federally held student debt. Yes, according to this article: https://studentloanjustice.medium.com/republicans-in-a-very-tough-spot-on-student-loans-70f531fb4505?fbclid=IwAR0WPEOKljxn8rfbFk0atQ0TEITN9sZ6GkLo7WupxYsrtbPPRXmzxuiPqP0 over 85% of all borrowers (both party constituents included) were not paying on their federal student loans. This was exacerbated by the pandemic when before, back in 2019 over 65% were not paying!

Is this an individual issue? No it is a policy issue.

The government profits massively off of defaulted student loans. This should be of great concern to those who are against big government. The student loan system is a scam, the biggest one in history perhaps. It has completely breached its contract by the lenders violating:
-Statute of limitation in lending laws
-No bankruptcy rights for the borrowers (Article 1, Section 8 Clause 4).
-No background checks for each student with credit history
-Wage garnishment (no judge issue required)
-Social security garnishment (no judge issue required)
-High default rates and explosions of delinquencies.
-High government profit off of defaults.

If this has not alarmed people in the slightest then I don’t know what else to tell you. In usual contract agreements it is mutually beneficial to understand 100% transparency between both the signer and the issuer. There is no transparency from the issuer to the borrower. This means that high school kids, upon graduation, are expected to blindly sign away their freedom at the cost of an unaffordable, and ever growing inflated tuition. The contract is guaranteed for the government to profit, but the highest risk falls upon the borrower.

How is this fair and just? It violates every ethical standard upon which our nation was founded. Not only this, our founding fathers foresaw this very problem! Last Congressional session there was a bill (S2598) which was going to restore bankruptcy rights back to student loans. This would have allowed, upon passing for students who could not pay their debts, to be able to discharge any amount through bankruptcy, same as with credit cards, gambling and car loan payments. With these, you had a safety net, albeit precarious to fall back towards and start over again. These laws, through decades of policy making and many greedy hands in the pot, were eroded from student loans through false accusations of ‘bankruptcy abuse.’

Tuition in colleges used to be free and almost anyone could attend and pursue their ideal career choice. Now? With this unique stripping of bankruptcy rights, the colleges can drive up costs and inflate their prices placing college further and further out of reach. As we near the supreme court’s decision on the finality of the cancellation and the payment pause (which has been a lifeline for millions of people), we are in dire straits the longer that we as a customer remain without bankruptcy protections.

Here is an article that proves the facts: https://studentloanjustice.medium.com/student-loan-cancellation-will-not-benefit-the-wealthy-92694be79936?fbclid=IwAR2x3dhyzKF_F0LOAdAJPxtRg6D1KGzpCnrwUAuyRGH5oDSCysj1uKNyYy4 Student loan cancellation does not contribute towards the wealthy, it does not affect the taxpayer, it does not add to the national debt, not even a dime! It does not even withdraw from the treasury. PPP loans which were given to those who held businesses were abused on a horrendous scale. In fact PPP loans took from the treasury and added to the national debt! This is the cheapest way to stimulate the economy. The taxpayers will break even on this if our President were to immediately issue an executive order to cancel all federally held debt.

Here is the main concern however, returning bankruptcy rights back to student loans. With the payment pause expected to end soon, would you as a borrower want to have your bankruptcy rights restored? Having that leverage on your side to use against the lenders? You wouldn’t necessarily have to file if you didn’t need to. It’s having that right, that leverage on your side.

If we continue the way we are without bankruptcy…..our country will crash. Our economy will crash. This is not an individual problem, it is a collectively, national threat. A weaponized lending system against the citizens.

– Anton Vanrey


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31 Comments

  • Derpherder April 25, 2023 at 1:53 pm Reply

    Government- If you think your problems are bad what until you see our solutions!

    This letter gets off on the wrong foot with the statement “Is this an individual issue? No it is a policy issue.”

    Every student loan only has the individual signing they will repay it. No student in the history of the USA has had a gun put to their head and forced to sign a loan. Each one took money to get an “education” now that they have the education that collage isn’t worth the money it costs to get it, they want the the people who had that knowledge before hand to pay for it. Or they want the people who couldn’t afford that “education” to pay for it.

    Like any other investment if you invest poorly, you only have yourself to blame. Doubly so if you invest poorly in yourself.

    • Verlo April 25, 2023 at 5:18 pm Reply

      Just a hunch, but I think Anton has some debt that he’s trying to get someone else to pay. Also, you mention that getting your neighbor to pay off your debts would stimulate the economy. Uhm, don’t we already have enough inflation?

      • Kramer April 25, 2023 at 10:57 pm Reply

        Anton…..pay your bills. I’ll pay mine. You pay yours. That’s how it works

    • Sgt. pay your bills April 26, 2023 at 2:14 am Reply

      That is just a solid response. Anton you do know that all of your student loans are capped at 6% and the government will pay the interest while you are on active duty. Seeing how you can’t escape this albatross around your neck. It would be a win\win if you joined the army.

  • whoknows April 25, 2023 at 5:20 pm Reply

    Wrong on most counts. Surprisingly so.

  • Poor cowhand April 25, 2023 at 5:21 pm Reply

    I worked overtime and skipped vacations to pay off my student loans early. This is an individual issue, you borrow what you can afford. Going to college is not a right.

  • Ttunac April 25, 2023 at 9:37 pm Reply

    Pay your bills, Anton.

  • Kramer April 25, 2023 at 10:58 pm Reply

    Pay your own bills gomer

  • Mr. Bao April 26, 2023 at 8:41 am Reply

    Unsurprising that people are responding in such a self-important, selfish way. They are so blinded by their “pick yourself up by the bootstraps” mentality that they are filled with rage when they think of anyone else benefiting from taxes. It is this same way of thinking that has put the U.S. healthcare system decades behind other countries, same as our infrastructure. These people do not believe in community, they do not believe in serving those in need, they do not believe in administering to the sick and the poor because they see all these conditions as a consequence of that individuals actions and therefore “they don’t DESERVE assistance.” But I bet you most of them call themselves Christian. These same people don’t complain that nearly a quarter of all our taxes go toward the military; funding wars, death, and slaughter of innocent people all over the world in the name of profit. We bail out our banks, our billionaires, and our megacorporations, but so long as Billy down the street doesn’t benefit they can sleep soundly. It’s honestly reprehensible behavior and I don’t foresee it changing any time soon.

    • Ttunac April 26, 2023 at 10:35 am Reply

      God said I shouldn’t have to pay back my student loans? That seems pretty self serving.

      • Mr. Bao April 26, 2023 at 12:17 pm Reply

        I mean plenty of people in the valley believe God commanded people to practice polygamy with minors, so who knows…

        • Ttunac April 26, 2023 at 4:07 pm Reply

          You don’t want to pay your student loans so you blame the locally predominant religion?How original…?

    • Derpherder April 26, 2023 at 10:46 am Reply

      The issue isn’t that we don’t want Billy to benefit. The issue is Billy couldn’t afford collage so he got a job as a plumber, worked for 4 years as an apprentice, lived in a cheap apartment without a movie theater and pool. Then risked it all again to start his own business. After working 80+ hours a week he now makes a 6 figure income and has a couple employee’s, but he was never smart enough for collage.

      The issue is Sam that could “afford” collage and wanted to make his life better. So he spent 4 years getting a political science degree, while living in a new apartment with it’s own coffee roaster and 50 inch big screen tv. Spent his time between classes at the pool and gym. His summers he traveled abroad to experience the world. All he had to do was see his “financial advisor” at the collage to get his loan. Now he graduates and finds himself 50-200k in debt, and he is less intelligent then he started. He has no skills, no trade, no benefit to society.

      Sam wants Billy to pay his debt.

      Collage is a lie, the “financial advisors” are loan sharks.

      As you point out our government is corrupt. Funds are being spent where they shouldn’t. Yet your solution is to give more of Billy’s funds to the Government, in hopes those greedy palms let enough slide though to Sam.

      • Mr. Bao April 26, 2023 at 12:14 pm Reply

        As a fellow blue collar tradesman who also went to college and paid for it through scholarships I do have endless sympathy for the people who do the jobs that most either do not, or cannot do. Our truckers, plumbers, electricians all provide priceless value to our communities, as do our doctors, engineers, programmers and many other professions which require a higher education.

        By your description of college life I can clearly tell you are entirely unfamiliar with it. The vast majority of students do not “live large” while attending school, and this idea you have of someone living alone in a fancy apartment with amenities, pools, and tv’s and excessive amounts of leisure time is grossly misinformed. Most people I knew in college were VERY tight on money, worked part-time jobs in addition to attending classes, and had to make many sacrifices in order to complete their coursework. Accounting for inflation over the years college has more than tripled in cost, and this is due to the ease in which the government lends money to children who don’t know better.

        Sam is not asking Billy to pay his debt, in fact Billy already pays taxes so the money is already not in Billy’s account.

        Sam’s Political Science degree enables him to understand the intricacies of tax law and legislation. He is asking Elon Musk to pay his proper share of taxes, he is asking the government to stop misappropriating funds, he can see that education debt is treated differently than a mortgage, or credit card debt and it can never go away through means of bankruptcy.

        Sam sees the Government wasting trillions of dollars and realizes money isn’t real, its all a lie. He sees people of all walks of life, both those who attended college and those who didn’t being eaten up by the machine that is Capitalism. Soaring inflation, cost-of-living, rent, interest rates, stagnant wages, artificial scarcity etc. Income inequality is worse now than it has ever been throughout human history. Households where only one parent is able to provide for a family’s needs are becoming a rarity, dual-income is the only option for most people. If we want to complain about the destruction of the family unit, it is right there in front of us.

        • Ttunac April 26, 2023 at 4:12 pm Reply

          Make up your mind. Is it Capitalism or the Mormons? Your credibility wanes when you can’t even decide who to blame for your own decisions.

        • Ttunac April 27, 2023 at 2:09 pm Reply

          “He is asking Elon Musk to pay his proper share of taxes”
          Musk paid 6 billion in taxes last year. The most any citizen has ever paid.
          Now pay your loans.

      • collagegirl April 26, 2023 at 4:08 pm Reply

        college

        • Derpherder April 27, 2023 at 11:19 am Reply

          Thank you, Collagegirl for typing college. lol

  • Anton April 26, 2023 at 5:49 pm Reply

    Wow so many ignorant shills in the comment section. Few here actually…somewhat understand the problem but hey its bittersweet at best. I’m sorry that you are so supportive of the colleges and the lending system that you can’t see the truth but hey? It’s not my problem that people are so selfishly engrossed in their own depravity and sense of self-entitlement and….maybe deprecation? This problem is, by the majority a Republican and Independent problem so I suppose stepping on your own constituents and bullying the victim but siding with the bigger bully is cool these days huh? Anyway *Mic drop* I’m done here I don’t need to further shame and embarrass you sycophants.

    • Ttunac April 26, 2023 at 7:28 pm Reply

      “selfishly engrossed in their own depravity and sense of self-entitlement”
      Again, this debt was not forced on you.

      • Anton April 28, 2023 at 4:16 pm Reply

        Right, not my problem that you are a complete sycophant but hey I guess the one who follows the bully is the bigger idiot anyway. Continue living in your depravity, bottled up silently because you are too much of a coward to actually research this problem and actually help solve it. Good luck to you! And I hope to never meet you in person because being such a keyboard justice warrior is your only talent. It doesn’t matter whether it was ‘forced’ or not, the loans never disclosed anything about the stripping of bankruptcy rights. It never discloses the statue of limitations, there is no 100% transparency between the contractee and the signer. There is no getting through the thick skulls of Magas and their narcissism and you people are absolute sellouts anyway so I guess there are no surprises there. #Magasareamentaldisorder

        • Ttunac April 29, 2023 at 1:04 am Reply

          Anton:
          I shouldn’t have to repay my loan because…
          Mormons
          MAGA
          Capitalism
          Elon Musk
          Ignorant shills
          Colleges
          Narcissism
          Conservatives
          Department of Education
          Sycophants

          That’s quite the tantrum Anton. It looks like it’s everyone’s fault but yours. It looks like they haven’t taught you maturity and self responsibility.
          You seem like you were stupid enough to take on crippling debt because you couldn’t run a calculator and I hope it follows you to your grave. I expect to see more letters to the ether from you.

  • Alan Collinge April 26, 2023 at 6:10 pm Reply

    The fact of the matter is that the “taxpayers” (Actually the Department of Education and their crony contractors) have made an absolute FORTUNE off the backs of student loan borrowers under the weight of this predatory debt.

    Nearly the entire federal portfolio is PROFIT at this point. The borrowers have paid and paid through the nose.

    Conservatives in these comments have been duped into fighting for the most unconstitutional loan scam in US History, The Department of Education running it, and the colleges getting obscenely rich from it.

    That’s not conservative. That’s being a “Useful Idiot”, as Josef Stalin would say, for that which they claim to be against. They should turn in their conservative cards. They work for the colleges now, whether they admit it or not, and the entire state of Utah is going to pay for their foolishness. Interest, alone, on this federal debt is something like $700 million/year leaving the state, and going to the books of the Department of Education.

    Shame on the commenters here.

  • Ttunac April 26, 2023 at 7:43 pm Reply

    Shame on you for signing the loan papers and not expecting to pay it back.

    • Alan Collinge April 26, 2023 at 9:07 pm Reply

      No. Shame on YOU for defending the colleges, the Department of Education, and the most unconstitutional, Utah-wrecking loan scam in US History.

      You’re no conservative. You should hear it from Tucker: bit.ly/hearitfromtucker

      Unlike you, he knows what’s going on. You ought to be apologizing to the decent people wrecked by this big-government beast. Over half of them are republicans and independents. They are 1 in 5 of all adults in the state. They are your friends, family and neighbors.

      Big shame. On You.

      • Ttunac April 27, 2023 at 10:51 am Reply

        Go pay your loans, Alan. Pull up your big girl pants and be accountable for your decisions. Don’t rely on politicians or TV personalities to help. Pay your bills, Alan.

    • Alan April 26, 2023 at 10:17 pm Reply

      Shame on you for fighting for the colleges, the Department of Education, and their unconstitutional, Utah-wrecking loan scam. Big. Shame. Turn in your conservative card.

      • Ttunac April 27, 2023 at 10:41 am Reply

        You seem pretty upset. I can see why. Your favorite politicians promised you school loan forgiveness in return for your vote. You voted and all you got was a new war, rampant inflation, higher fuel prices, and inflated housing.
        Suckered. They lied to you. Go sign up and get on the GI bill. I’d be embarrassed if I were you, too. Now go be a big boy and pay your bills.

  • Kip April 27, 2023 at 7:46 am Reply

    Your mom goes to college.

  • TC10 April 27, 2023 at 4:06 pm Reply

    If u want your student loans forgiven than you must service 3-5 years in the military.

    You took tax payers money to pay for your education than you can serve the country to repay the debt

  • Ttunac April 28, 2023 at 11:24 pm Reply

    Anton:
    I shouldn’t have to repay my loan because…
    Mormons
    MAGA
    Capitalism
    Elon Musk
    Ignorant shills
    Colleges
    Narcissism
    Conservatives
    Department of Education
    Sycophants

    That’s quite the tantrum Anton. It looks like it’s everyone’s fault but yours. It looks like they haven’t taught you maturity and self responsibility.
    You seem like you were stupid enough to take on crippling debt because you couldn’t run a calculator and I hope it follows you to your grave. I expect to see more letters to the ether from you.

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