Okay but what I’m saying is, why take a second job? Why not just make a single minimum payment every 270 days to avoid them moving to the next steps? There are just so many other options besides working a second job to pay them, and so many delay tactics you could employ to avoid getting to the point of garnished wages.
interrobang@lemmy.blahaj.zone 6 months ago
You’re right. Im late 30s, took out tons of loans at 17yo, and my dad swindled me out of anything that didnt go directly to tuition.
I stopped paying a decade ago, keep waiting for my checks to be garnished, but hasn’t happened yet.
I don’t use credit, im financially not an adult in many ways, but i kept waaaaay more of my money than anyone else i know.
gravitywell@sh.itjust.works 6 months ago
thank you! Ive yet to hear a single story from anyone who’s actually defaulted and had wages garnished for student loans. Sure it can happen but its pretty rare.
Jonnynny@lemm.ee 6 months ago
I’ve had two employees at my work get their wages garnished for defaulting on student loans. It definitely happens.
gravitywell@sh.itjust.works 6 months ago
Interesting to hear, and yeah one of the main issues with garnishing someones wages is, even the government has to do a bit of work to actually track down your employer and people who default on student loans don’t tend to have very good employment (i’m not at all arguing you shouldnt pay them if you can actually afford to, just that you shouldnt go out of your way for it if you’re struggling).
I wonder how much they got from 15% of that one employees wages, I’ll bet it was less then they’d have to pay to actually pay off the loan… and of course if that person ever changes jobs they have to track down the new employer each time. also wonder how common it is for wages to be garnished over say child support compared, or back taxes to student loans…
interrobang@lemmy.blahaj.zone 6 months ago
Same- all threats, don’t know anyone actually being garnished.
When my choice was pay loans or eat, i ate, and i sure af am not going to call someone and offer them money just because it got slightly better a couple years later. Ive never owned a new couch, i am not well off.
If debtors prisons come back, I’m fucked, but until then, frankly, what can they do? I can’t afford a house or kids either way, and i am not throwing away anything on interest that will only grow and stress me out.
I have no idea what i must owe now, over triple my salary, min.
They sold a for-profit bullshit degree.
Fuck em