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33 sats \ 7 replies \ @Satosora 5 Mar \ parent \ on: Does the United States Government Need a Gold Reserve? No. econ

A lot of those student loans are going to default. Who can afford to pay them off, especially the millennials?

10 sats \ 6 replies \ @Undisciplined OP 5 Mar

They may be in de facto default, but those debts cannot be discharged.

They will be discharged upon the death of the loanee. Many people just wont pay them, or just pay the bare minimum.

110 sats \ 4 replies \ @Undisciplined OP 5 Mar

I'm not sure how this works, because you will get a lien placed on your future earnings at some point, which means it's not up to you whether you repay or not.

The only ways around that (that I know of) are not working or only earning income under the table.

31 sats \ 3 replies \ @Satosora 5 Mar

People always find ways around it. And the system is just too slow to catch on.

10 sats \ 2 replies \ @Undisciplined OP 5 Mar

Still, I think avoiding repayment puts a pretty significant limitation on earning potential.

30 sats \ 1 reply \ @Satosora 5 Mar

Some people arent able to get a job with the education and loans they have.

0 sats \ 0 replies \ @Undisciplined OP 5 Mar

*aren't able to get a job they want