Read a news article tonight. Quick summary, LOTS OF PEOPLE DELINQUENT! Some seeing 100-150 point drops in credit scores and 90 days past due. Supposedly wage garnishments and tax refund hits will be starting. --24.152.xxx.xx

I’m sure this is going to create quite a few ripples. Besides the political tug of war they really can’t blame anyone but themselves. They stopped paying when they were told they didn’t have to and then most of them got used to spending all that money on other things. Not it’s time to pay again and they can’t because they screwed themselves. I’m sure it’ll be the landlords fault soon when none of them qualify for apartments. --24.152.xxx.xx

the understanding i had when they were told payments were suspended wasthat interest would not accrue which meant they had years to pay off the loans at 0% interest. i have no sympathy whatsoever.i heard 15% garnishments,my state only allows for 10% of there check to be garnished so i wonder how that will work? --98.98.xx.xx

Ken, I’m assuming federal trumps state garnishment. I’m sure the levy details are buried in the loan rules somewhere. I remember being 18 signing mine and thinking way back then that I had no idea what any of that cr@p meant. Biggest debt trap gig going. Enslavement through debt. --24.152.xxx.xx

I am not sure if I want to (or will even be able) to help those who torpedoed themselves. It might be an OWC opportunity. But since Dodd-Frank has limited the number of bullets we have each year, do I want to risk any of them on someone who allegedly went to school to help themselves become better. What are your thoughts? --173.188.xx.xxx

DGD#1 has some, but I admonished her to keep paying no matter what and she has, to my knowledge. Hers weren't very much, 20k maybe, low interest. So I hope she kept up. --173.28.xx.xxx

Ray, I don’t really see any angle on this unless these people lose houses to foreclosure from the government taking wages. They can’t see their own folly. Rents and mortgages will go unpaid before Netflix and DoorDash get cancelled. The bigger monster here is how so many people put their faith in the government by believing they have their best interests at heart. You don’t profit from that, you teach future generations to steer clear of their BS. --24.152.xxx.xx

--73.19.xxx.xx

Is there a database showing the people that are being federally garnished because of student loans? --107.147.xx.xx

Ray, the only other thing that I think might eventually happen from a landlord perspective, is simply ignoring student loan collections as much as possible the same way, I do medical collections. No 18-year-old kid in high school fully understands the magnitude of $100,000 in student loan debt. Especially with the hopes and dreams. They have been pumped up with so many years leading up to that point. Plus the peer pressure of going to the elite college or else you’re a loser your whole life. --174.249.xx.xxx

I did just reject an applicant who had terrible credit and the reason was that she stopped paying her student loan under Biden. A couple of years of "unpaid". I actually would have ignored that because everything else was paid on time, but she got rejected for a different reason. --76.178.xxx.xxx

That money should never have been flung around to anyone and everyone who had their hand out. The loans should have been only for students with good grades and an articulated plan on how they were going to pay the money back. --76.178.xxx.xxx

Oregon, the parents don’t know any better, and the school guidance counselors certainly aren’t going to tell them any different. Remember, go to school so you can get good grades so you can go to college and get a good job and be rich working 80 hours a week. That’s been the mantra for decades. School guidance counselors, did the same thing themselves. Of course, it should be handed out to people with good grades. I never should’ve got them when I was a kid, I just about failed high school. But once the government realized they can enslave the population and its upward mobility through generational debt slavery, they were like rabid dogs all over this stuff. It won’t change. I feel worse for a kid who’s 18 signing up for student loan debt, then I do somebody who is 35 or 40 years old. --174.249.xx.xxx

The predatory lending practices are what piss me off. A lot of these kids knew less about debt management than their parents. It was private companies that went in and signed them up for these loans. --73.2.xx.xx

NE- exactly, get them enslaved to the system and send them to the liberal indocternation centers.of course the guidence counselors are going to push college,they think anyone without a 4 year degree is a loser.I blame the parents, primarily the mothers,they push going to college so they can brag that they have a kid in college.If the parents push it they should pay it themselves.I only went to college because my dad wanted me to go for Agriculture and he paid for it, 2 years for me then 4 years for my sister,all paid cash each semester as the bills came in from real estate rentals and flips --98.98.xx.xx

"But Mom and Dad - I am 18 and adult now. I don't want to get trained up in a skill or a trade. I want to get my degree in Photography with a Minor in Bowling. I saw online mom and dad, where those folks in the PBA makes lots of money for just having fun.....so why should I go to school and learn something like HVAC, Plumbing or Welding when I can Major in Psychology and get an easier A" --98.17.xx.xx

OWC- Owner will Carry --98.17.xx.xx

Thank you, Ray --73.19.xxx.xx

I’m in a two university town. my student renters all have high scores bc mom and/or dad are paying the student loans……on side note I have the parent(s) as guarantors…. --104.28.xx.xxx

--75.187.xx.xx

some good points Daniel. however I am a believer that people can & should make their own decisions & not rely on a “system” to protect themselves from themselves. Having said that however, I grew up in the English education system. At 16 you would be routed to a votech career path or to higher education (university) depending on your grade levels or (tested) vocational interests. I agree, the system does push kids to take out loans for that they really do not need or should --104.28.xx.xxx

I'll tell you something else: no real paperwork. You get an online document, read it within X minutes, sign...it's like when they shove that electronic signature thing at you at the hospital - you DON'T know what you are signing. Admitting Person says "this gives consent to treat..." "this gives consent to bill insurance..." but you don't really know and you don't have any idea what ELSE it says... --173.28.xx.xxx

It's really funny. There are no underwriting standards for these loans anyway, which makes me think this could slip through --174.100.xxx.xxx

The system has not failed anybody, it’s working exactly as it’s designed. I do agree with Daniel that blame truly lies with the guidance counselors and the schools and the peer pressure for this easy money. That’s why I think there might come a point as a Landlord that we will have to somewhat ignore student loan debt collections. It’s not really self-inflicted like a lot of other debt. Not for an 18 year old kid. --174.249.xx.xxx

NE, if garnishments will start being initiated for student loan debt, that will affect a resident's ability to pay rent. As a landlord, wouldn't you have to take that into consideration and not simply ignore. --172.59.xxx.xxx

From an income standpoint yes, not credit. --174.240.xxx.xxx

That may cause a ripple in a lot of existing & already qualified tenants that we have in our units. --24.152.xxx.xx

Jeffrey, thinking about this a little bit more, I guess if their wages are being garnished, it’s not going to show up on their credit report anyways. So maybe it can’t be ignored, it’s just needs to be looked at in a different part of the screening process. --24.152.xxx.xx