{"id":2152973,"date":"2024-01-18T16:37:02","date_gmt":"2024-01-18T21:37:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/some-student-loan-borrowers-boycotting-payments-to-force-government-to-cancel-debt\/"},"modified":"2024-01-18T16:41:36","modified_gmt":"2024-01-18T21:41:36","slug":"some-student-loan-borrowers-boycotting-payments-to-force-government-to-cancel-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/some-student-loan-borrowers-boycotting-payments-to-force-government-to-cancel-debt\/","title":{"rendered":"Student loan borrowers refuse to pay, urging government to cancel debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsome-student-loan-borrowers-boycotting-payments-to-force-government-to-cancel-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2152973&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Student Loan Borrowers Boycott Payments in Protest<\/h2>\n<p>Some student loan borrowers are taking a stand and refusing to make payments in an effort to pressure the Biden administration into \u200dcanceling all student loan debt. According to \u200ba survey conducted by\u2064 Intelligent.com, approximately \u206325% of federal \u200cstudent loan borrowers have not made any payments, with\u200d 9% of those boycotting their payments doing so to \u200bpush for debt cancellation.<\/p>\n<p>The survey also revealed that 44% of \u2063those participating in the boycott believe that \u2064their protest will lead to the government canceling at least some <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-bids-trusted-adviser-white-house-counsel-stuart-delery-goodbye-amid-investigations\/\" title=\"Biden says farewell to trusted adviser Delery amidst inquiries.\">federal student \u200dloan debt<\/a>. Furthermore, 28% of respondents expressed confidence that the \u2062boycott is likely to succeed in canceling all student loan debt, \u200cwhile a staggering 86% \u2062believe that it will bring attention to the student loan issue.<\/p>\n<p>The pandemic\u2062 pause\u2064 on student loan payments ended in October, resulting in nearly nine\u2063 million people missing their first payment. This means that\u2064 around 40% of the 22 million individuals \u2063with student loan payments due in October \u2064had \u2064still not made a payment by\u200c November.<\/p>\n<p>Comparatively, less than 26% of borrowers missed their payment\u2062 in \u2062October 2019, before the pandemic pause took effect in March 2020 amidst \u2063the COVID-19 pandemic.<\/p>\n<p>In June, the Supreme \u2062Court struck down President Biden&#8217;s $430 billion student debt relief plan, which would have forgiven loans for 40 million people. Despite this\u200c setback, Biden remains determined to find alternative ways to provide relief to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-attempts-to-quell-fears-over-inflation\/\" title=\"Joe Biden attempts to quell fears over inflation\">hard-working middle-class families<\/a>.<\/p>\n<p>Although Biden has managed\u2063 to\u200c forgive over $116 billion in student loans for more than 3.4 million \u200dindividuals, leftist lawmakers and\u2063 activists continue to advocate\u200d for broader student\u2062 debt \u200brelief.\u2064 Critics\u2062 argue that forgiving student loans is\u2062 unfair to those who\u2063 have already paid off their loans, as taxpayers ultimately bear \u2064the burden of government-funded debt relief.<\/p>\n<p>The Intelligent.com survey found that 69% of borrowers who had not made a payment after the\u2064 pause ended cited financial \u200binability as the reason. Additionally, 18% of \u2062borrowers who had not resumed payments stated that they planned\u2064 to wait until September, when more severe consequences for missed payments come into play.<\/p>\n<p>For\u200b the next few months, the Biden administration has \u2064implemented an \u200d&#8221;on-ramp&#8221; program\u2062 to protect borrowers from the harshest consequences\u2062 of missed payments, such as delinquency, default, and mandatory collections.<\/p>\n<p> <\/p>\n<h2> What\u200c are \u2063the concerns raised by critics of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-asks-education-secy-if-he-can-legally-cancel-student-debt\/\" title=\"Biden asks education secy. if he can legally cancel student debt\">canceling student loan debt<\/a>, and why do they believe\u200c individuals should be held responsible for their financial decisions<\/h2>\n<p><span>  \u2062Ead to\u200b significant change and \u200ddebt cancellation. These \u200dborrowers \u200cargue that \u2064the burden of student loan\u2063 debt\u2064 has become an unjust and unsustainable burden \u200don individuals and the economy as a whole. They believe that canceling \u200cstudent loan debt would not only provide financial relief to millions of Americans but \u200dalso stimulate economic growth by increasing consumer \u200bspending\u200c and freeing\u2064 individuals to\u200c pursue \u200chigher-paying careers \u200cand entrepreneurial ventures.<\/p>\n<p>The student loan debt\u2064 crisis has reached unprecedented levels in recent years. \u2064According to the Federal Reserve,\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-push-for-student-debt-forgiveness-would-cost-taxpayers-millions\/\" title=\"Democrats push for student debt forgiveness, would cost taxpayers millions\">outstanding student loan debt<\/a> in the United States has surpassed \u2064$1.7 trillion, making\u200b it the second-largest consumer\u200c debt category after mortgages. The burden of this debt is\u200c not limited to recent graduates but also affects individuals well into their\u200b middle age and even retirement. Many borrowers struggle \u2063to make regular payments on their loans, leading to\u2062 financial distress, damaged credit scores, and limited opportunities for \u2062economic advancement.<\/p>\n<p>Advocates for canceling student loan debt \u200bargue that it would be a necessary step towards addressing the systemic \u200dinequalities and barriers\u200c to upward mobility in America. The burden of student loan debt disproportionately\u2062 affects minority and low-income communities, perpetuating the cycle of poverty and hindering social mobility. By canceling \u200dstudent loan debt, the government would be acknowledging the inherent flaws of the current system and\u2062 working towards creating a more equitable \u200bsociety.<\/p>\n<p>However,\u200c not everyone supports the idea of\u2064 canceling student loan debt. Critics argue that such a move \u2063would unfairly\u2063 benefit a small segment of\u2062 the population while placing a\u200d heavy\u200c burden on \u200ctaxpayers. They\u200c contend that individuals should be held responsible for the financial decisions they make\u2062 and that canceling student \u200bloan debt would send a message that personal \u2062responsibility does not\u200c matter.<\/p>\n<p>President Biden has previously expressed support for\u200b canceling $10,000 \u200cof student loan debt per borrower\u200d as a part of\u2064 an economic relief plan.\u2062 However, there is a growing movement\u200c pressuring him\u2063 to go further \u200cand cancel all\u200c student loan debt. Proponents of this idea\u200c argue\u200d that $10,000 is not enough to alleviate the burden for many borrowers, especially those with higher levels of debt.\u2064 They believe that canceling all student loan debt would provide a fresh start \u2064for millions of Americans and allow them \u2064to fully \u200dparticipate in the economy.<\/p>\n<p>The\u2062 boycott \u200dof student loan payments is a form \u2063of nonviolent protest \u200daimed \u200dat drawing attention to the urgent need for debt cancellation. Advocates \u2063hope that by refusing to make payments,\u200b they can force the Biden administration to take definitive\u200c action on this issue. Time will tell \u2062whether this\u200d strategy will be effective \u200cin achieving their\u2063 goal.<\/p>\n<p>Regardless of the outcome of \u2064the student loan debt boycott, it has served as a powerful reminder of the deep-seated issues within\u2063 the\u200b American higher education system. It has \u200dbrought\u200d to\u2063 light the need for comprehensive reform to \u2062address the skyrocketing\u2063 costs\u2063 of college\u2064 education and the burden of\u2063 student loan debt.\u200d Whether \u2062through\u200d debt\u2063 cancellation, increased funding for higher education, or a combination\u2062 of both, it is clear that action is needed\u2062 to create a more affordable and equitable educational system that benefits all \u2062Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>They were intentionally withholding payments to pressure the Biden administration into forgiving all student loan debt. This survey conducted by Intelligent.com revealed that a significant portion of federal student loan borrowers, approximately 25%, are participating in this protest by refusing to make payments. Among those who haven&#8217;t paid, 9% admitted to doing so deliberately to advocate for debt cancellation<\/p>\n","protected":false},"author":107,"featured_media":2152974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2152973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2152973"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2152974"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2152973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2152973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2152973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}