Millions of Student Loan Defaulters Have Stopped Payments

You lost me at "what will motivate them to start paying it back." It's not a problem of motivation. It's a problem of not having the money.

Getting a college degree was the worst financial decision I have ever made.

Idk if anyone has noticed, but our generation is really pissed off about that bank bailout

A person in America shouldnt have to go into lifelong debt just to get a degree and get a job and contribute to society. I racked up $110k in student debt to get a job that pays $50,000. The American way of life is dying.

You can bail out the banks millions in debt but not your people

They CAN'T pay it back. Simple.

Heres a solution: Dont charge as much for college. Prices are ridiculous!

Banks got bailed out students got sold out!

My wife and I both have college debt. I make enough to pay the loans and a mortgage, but I'm working a job that doesn't even require a high school diploma. Meanwhile, my wife keeps applying for jobs that require a bachelors degree but only pay 35k. I did learn a lot from college, but it didn't advance my career prospects.

College, the most successful Ponzi Scheme ever......

Explain how paying a few dollars a month is going to help when the interest rate is probably much more than a few dollars? All the debtor is doing is acknowledging the debt so they can be sued later. What needs to be done is for the system to be returned to the way is was in the late'70's when I was in grad school. The money was sent from the gov't to the university. The university did not give me the loan; I only signed documentation that paid for the school and their fees. No, I did not get money for living expenses or books and supplies; the money was just for school. When I left school the interest rate was a flat 3%; it did not change. I was able to pay off the loan within a few years. The cost of the universities is exorbitant now and the interest rate borders on illegal.

The true problem, which all of these talking heads ignore, is that the feds allowed public universities and colleges to "jack" the tuition totally out of whack from the economy as a whole. I paid off my student loans under the 10 year period. I finished schooling in 1971, my total debt was only around half of my first year's income. That was reasonable; now students are faced with loans that are several times their starting salaries. It's stark raving insane!!

The whole industry is a scam. You want people to pay the loans back? Give them jobs that make that degree worth it. I agree that it is a contract that should be fulfilled, but the scam is what needs to be addressed. We have a very highly educated cadre of baristas, pizza delivery drivers, Uber & Lyft drivers, retail employees...

"The government is wondering what will motivate people to pay it all back." Answer: Nothing.

Federal student loans should not have interest. The government shouldn't be making 6% interest on people's education. Especially since most college graduates cant find a decent job

Get it from the pentagon! They've got 21 trillion dollars we'd like back. Problem solved.

Rent or debt payment. You tell me.

when people stop playing your game you are going to lose any power you had over them.

Stop letting your children bankrupt themselves with this crazy debt for diploma scam!!!! Stay out of debt!!!!

So here's my thing, I dont want loan forgiveness or any income based repayment. I would like to pay back what I took out plus a little bit on top. I understand that these business have to make money. But taking out $44,000 bucks and then having it equal to $140,000+ after you get done making the minimum payments of 500+ 186 months. The government lets these greedy businesses get away with it and the American people are the ones who suffer. I'll probably will die with these loans under my name. "Well guy you should have saved up money and read the fine print". Well its kinda tough to do when you're pressured by family and friends of the family (along with society) to get a college degree to make something of yourself.