Thousand of student loan borrowers are refusing to pay back their loans in ‘protest’ even though they have already had a three year long pause on payments due to the pandemic.
Why are these people refusing to pay? It’s pretty simple. Biden has given them the idea that their loans will be forgiven, in other words, paid for by taxpayers. He has been going around the Supreme Court in an obvious effort to bribe young voters.
What would happen if people across the country just stopped making payments on home and auto loans? Would the Biden administration pander to them too? Unlikely.
The FOX Business Network reports:
Some student loan borrowers refusing to pay out of protest
Millions of borrowers with existing student loans still have not made a payment since the bills resumed in October after a three-year hiatus, and some admit they are refusing to pay out of protest.
In an Intelligent.com survey conducted this month of 1,000 federal student loan borrowers, 25% said they had not made any payments at all, and 9% of those said they were holding off on paying their bills intentionally in an effort to pressure the government into canceling their debts.
Of the nearly 1 in 10 delinquent borrowers taking part in this “boycott” of student loan repayments, 44% said they believe their protest will lead to the cancellation of some federal student loan debt, and 28% think it is “likely” the boycott will convince the government to cancel all student loan debt, the survey found…
Financial experts advise against missing student loan payments for any reason.
“Although the frustration behind the student loan boycott is understandable, it’s unlikely to lead to positive change,” DebtHammer founder and CEO Jake Hill told the outlet. “Instead, it will destroy the credit scores of those who choose to participate. This may not seem like a major issue in the short term, but failing to pay your student loans can make it more difficult to obtain funding for future purchases.”
Biden hasn’t slowed down on this issue. He is still going.
— KTLA (@KTLA) January 12, 2024
Some Americans will get their student loans canceled in February as Biden accelerates his new plan https://t.co/Hd0RhQ1Twb
— The Associated Press (@AP) January 12, 2024
This is why some people aren’t paying back their loans. They think Biden is going to make others pay the bill for them.