Student loan borrowers skip payments: It's "an act of civil disobedience"
www.newsweek.com
As national student loan debt lies at 1.75 trillion, one in 10 borrowers said they won't be paying off their loans as a matter of principle.
  • AutistoMephisto@lemmy.world
    1·
    10 months ago

    Reminder that student loans, like mortgages, are rolled up into an investment vehicle called the SLABS, or Student Loan Asset Backed Securities. Student Loan Forgiveness would tank the value of the SLABS, and I guarantee you our elected officials have money tied up in them. Since a student loan can’t be discharged through bankruptcy, it’s typically a very safe investment.

    • argarath@lemmy.world
      1·
      10 months ago

      It is absolutely HORRIBLE and immortal to have an investment that gains money of others being in debt. That is SO fucked up

      • prole@sh.itjust.worksEnglish
        1·
        10 months ago

        Welcome to capitalism.

        Inb4 all the MBA nerds come to chime in about why making money off of someone else’s failure is a good thing…