Ah, here we go. Just like we thought would happened. Almost like we wrote the script ourselves.

And all the excuses the Biden administration put together for absolutely forgiving student loan debt coming to life in one irresponsible package.

Of course, when you’ve already got a get-out-of-credit-report-jail-free card handed to you by Crusty Claus and his gang of thieving education elves, whut? You worry?

Aw, hell to the nah.

🚩Red flag in student loan payments: 40% missed their payments in October this year, a stark jump from 26% in 2019.

An overlooked warning of economic stress? pic.twitter.com/NqpofkJN0y

— Michael Burry Stock Tracker ♟ (@burrytracker) December 18, 2023

It’s hardly surprising the same group which made no attempt to keep paying anything during the hiatus – even to drop balances down while interest accrual was paused – would put it off yet again, particularly when one considers how incensed they are Biden hasn’t managed to wipe them clean like he promised. He didn’t do what he said, so they’re not paying.

“Payments? We don’t make no stinkin’ payments.”

The Department of Education revealed that 40% of student loan borrowers missed their first repayment date in October, including four million borrowers who were required to start paying back their loans for the first time.

Undersecretary of Education James Kvaal said 60% of student loan borrowers whose payments were due in October made them by mid-November, but the 40% who did not would not face harsh punishments.

And just like all you SUCKERS who scrimped to pay yours off, or did without to pay for your kid’s college (hello), or never went to school yourself because you couldn’t afford it (hello again), I’ll bet you feel either pretty stupid or pretty pissed off.

I’m in Category Snortin’ Fire.

These you-know-whats have another year to jack around, maybe sacrifice some chickens for their deliverance, hope to finally get that WE-Win(!)dex and smear all the bad numbers away.

…The Biden administration has made an on-ramp to restart the payment plans, which had been stalled for three years because of hardships caused by the COVID-19 pandemic, by delaying the harshest punishments for not making a payment through next September. Those punishments include delinquency, default, and mandatory collections. The White House has also rolled out a “SAVE” debt forgiveness plan over the summer.

I mean, call a waahmbulance. Life is hard, buttercups. Don’t sign paperwork for other people’s money without being prepared to pay it back.

…For the millions of Americans with student loans, the past couple years have been a roller coaster. First, they thought Biden would provide relief, with a plan to forgive up to $20,000 in federal student loans per borrower. That was struck down by the Supreme Court leaving borrowers on the hook for their balances. Yet Biden’s administration also rolled out a one-year leniency program to help those struggling with their debt.

It’s pretty funny in the saddest sort of way how this mouthy generation – so quick to rewrite history, assert their overweening moral superiority, and lecture on privilege – isn’t quite as quick to accept PERSONAL responsibility or obligation, though. It’s a cheaper, easier thrill living in the collective.

…There are signs that even fewer borrowers made payments in November. Each month, the Department of Education transfers the money received from student loan payments to the US Treasury. That amount dropped to $5.3 billion last month, down 25% from the almost $7 billion transferred in both September and October. Many borrowers threw money at their balances during those months to get ahead of the interest restart.

Hey! It’s the holidays! Whose idea was it to restart payments we shouldn’t have to pay when you need more money anyway?

FASCISTS

And sincerely – we’re all adults here and know the truth. If anyone is willing to thumb their nose at both SCOTUS and Congress in a patently unconstitutional end run to pander to a voting block he desperately needs to throw bones to, it would be our vegetable in chief.

The Constitution’s Appropriations Clause gives Congress, not the president, the power of the purse.

President Biden ignoring this and continuing to cancel student loans after the Supreme Court struck his original attempt down constitutes a monumental and lawless power grab. https://t.co/22Jp6PtSVW

— Carrie Severino (@JCNSeverino) December 18, 2023

The Big Guy’ll shamelessly throw money around for cheap love.

No question where Hunter got that filthy habit from.

But it’s alright.

Remember when the Federal govt got involved with student loans, in order to buy votes?

Yeah. Everything govt touches turns to poop. https://t.co/HrlnsPqQar

— Curt Howland 🏴󠁣󠁮󠀵󠀴󠁿 (@ImpossibleBob) December 18, 2023

All is proceeding as we have foreseen.