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Should I start paying my student loans again? (lemm.ee)

submitted 3 weeks ago* (last edited 3 weeks ago) by JeSuisUnHombre@lemm.ee to c/asklemmy@lemmy.ml

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I, like many and hopefully some of y'all, stopped paying my student loans during Covid and never restarted paying because we're supposed to have gotten relief from this debt that should've never existed in the first place. Now we have Trump coming back which kills the possibility of debt relief. So should I start repaying so I don't get my wages garnished? Or do we think the government is going to be too inefficient to come after it?

Edit: At one point when I heard that it was the only way to get forgiveness, I moved all my debt from a third party to being a government loan. Does that change anything?

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[–] 2ugly2live@lemmy.world 18 points 3 weeks ago (1 children)

Start paying, even if it's minimum payments.

You want to be in good standing (if you aren't already) before the changing of the guards. They will garnish your wages, and it'll be worse than whatever you were gonna pay. It'll so fuck up your credit. Check the interest and see if you can at least start tackling that if it's not too egregious. Republicans are securely on the side of the loan companies and there a chance they'll let them loose with the right bribe or two, and it make get worse before it gets any better.

[–] JeSuisUnHombre@lemm.ee 1 points 3 weeks ago (1 children)

At one point when I heard that it was the only way to get forgiveness, I moved all my debt from a third party to being a government loan. Does that change anything?

[–] 2ugly2live@lemmy.world 5 points 3 weeks ago* (last edited 3 weeks ago)

Unfortunately, no. You can't even get rid of that debt with bankruptcy. I have the same government loans. You can apply for forbearance to at least protect your score a bit if you can't pay.