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In the US, the year long student loan deferment ends in September. What happens when millions can't or don't start paying on them? (lemmy.world)

submitted 3 months ago by return2ozma@lemmy.world to c/asklemmy@lemmy.ml

13 comments fedilink hide all child comments

I accidentally asked this on shit post channel by accident so I'm asking in the correct channel now. Leaving the other one up because the replies were good.

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[–] Imprudent3449@lemm.ee 8 points 3 months ago (1 children)

Most banks probably are not going to write off many student loans. They can pretty much go after it for life and the loans usually cannot be discharged.

[–] SoJB@lemmy.ml 8 points 3 months ago* (last edited 3 months ago)

Absolutely, student loans are one of the pillars holding up the Wall Street machine. That’s like throwing away free money.

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