First off, I have an awful secret. I worked for a Student Loan company.
That’s right, I was employed for a while by one of the big government-controlled, fascist, multinational corporations who peddle financial poison to masses of innocent but ignorant 18-year-old children.
As an Anarchist this chills me to the bone, but it does give me some insight that others may not possess. I know how huge the student loan scam is.
The Biden administration has pulled off a masterful propaganda move that is enlisting Conservatives and Libertarians to get Biden reelected.
My experience began on a Monday morning in a training room full of new employees who had just been required to apply for a government probe into their entire life.
Believe it or not, they gave ME government clearance.
The first words out of my trainer’s mouth at this company, whose name you will never see in this writing, were “Do not allow your children to receive student loans.”
They continued with, “Do everything in your power to pay yours off as quickly as you can, because if you don’t, you will likely be paying them for decades and not make a dent in the balance.”
A Brief History of the Theft
The reason student debt is such an albatross for so many is that student loans are a government scam.
Many say, “but my student loans are not owned by the government, they are owned by one of the several private companies.” This is the beginning of the scam.
First off, if you got a loan before 2010 it is still possible that your loan is owned by one of those companies.
But if you received your loan after July 1st, 2010 then your loan is owned by the federal government.
That is when Congress and President Obama made it illegal to issue government-backed loans by private institutions.
The government is incapable of actually administering the student loan programs, so they hired the evil companies that the bill was designed to “protect” the public from to “manage” the loans
It is eerily similar to what they did when they started The Fed in 1913, but that is for another time.
What this did in reality is shelter the responsibility and shield these companies against litigation. As usual, the government was used to protect irresponsible practices by large corporations.
This was just the beginning.
This is nothing new
Government loves to steal in any form it can.
This was a huge boon for the government.
They now fully controlled education, because they controlled the money behind education.
They would use this power immediately and encourage millions more people to get student loans and make it more expensive almost by the day.
Add to that the massive interest which often is compound interest. The third quote from my trainer applies here, “Never forget that interest is accrued on all loans daily.”
That is right, they make money on your loan every day.
At any point, you can get what is called a Forbearance, which allows you to not pay for a month or more. If at any point you do this, ALL of your unpaid interest from the beginning of the loan is “Capitalized”, or added to the principle of the loan and now you pay interest on the interest.
This is a sinister form of compound interest.
Here is a good place to drop my source. That is the website for the government programs as it stands. Every bit of the information I am sharing can be found there. I do not want to bog down this with any more history. If you have further questions look it up.
But Biden is Forgiving My Loans!
No, he is not.
This was one of the most infuriating parts of talking with people about their student loans. They assumed their loans were all paid for every time the news reported it was coming. Up until now it largely did not come at all. So what is happening now?
According to CNN, “Individual borrowers who make less than $125,000 yearly and married couples or heads of households who make less than $250,000 yearly will have up $10,000 of their federal student loan debt forgiven if they did not receive a Pell grant as an undergraduate student.”
The most important part is the last few words.
When I received my student loans I received a Pell grant, as do the majority of low-income borrowers. Again, the majority of people will not get this forgiveness.
Some will. Notice the words low income above. That’s right, most of the people who will receive the forgiveness had parents that were NOT low-income.
It Gets Worse
Add to the above facts the programs already offered.
Most low-income families are currently on an Income-Driven Repayment Plan or IDR.
This is a set of plans that are designed to take into consideration the fact that many people who have student loans just simply cannot afford to pay them.
These low-income programs often allow borrowers to pay $0 per month.
They just have to reapply every year. Low-income people are already NOT paying these loans.
In addition to this, most of the IDR plans come with FULL loan forgiveness after 20-25 years. So how it currently works for those who, after attending school, still are low income is that they pay $0 per month for 20 years and the loan is forgiven completely. That’s right COMPLETELY.
Let’s recap
So Biden is promising a $10k forgiveness when in 2017 the average student loan debt was over 37K, but can get into the 100s of thousands to millions of dollars.
If your parents were low-income you do not qualify and if you do qualify you already may be paying $0 per month. If you do pay but do not pay it off within 20 years the balance, regardless of the amount, it is fully forgiven.
All of this information, again, is publically available on the government student loan website.
So Why Do This?
The simple answer to why the Biden administration and his lapdog media are saying this is the savior to millions of former students is—VOTES.
The same reason that several months ago they “made abortion illegal”. Which is also false, and expertly covered by Hotep Jesus.
The Biden administration is doing two things with this “forgiveness”. He can say that he fulfilled a campaign promise and employ CONSERVATIVES to drive up voting for Democrats.
Just like with the abortion lie, Biden can do essentially nothing and get his base riled up.
They have forgotten that the original promise was for $50k and might have helped people. It would have paid off my loans.
But even if the Liberal voter did remember the $50k promise, they will be saying, “At least he gave all of us 10k.”
The Conservatives Are Helping Biden.
The more important thing this does is make Conservatives and Libertarians mad. I have seen arguments of all kinds from these duped fools.
“This is making me pay for someone else’s loan.”
“This is going to destroy the economy.”
Even with all of the above facts I have presented, it is a fact that this will not help or hurt the economy. That is not the point.
I call your attention to the IDR again. You were already paying for these loans. Add the fact that for years now the government put a hold on paying student loans. Any economic repercussions have already happened.
Now every time a Democrat is on stage they will be telling people not only that the evil GOP wants their money. They will say “We care about you.” Ask yourself if FACTS win elections or if Santa Claus trumps your facts.
Rush Limbaugh several years ago made the connection on his radio show, yet still Conservatives fall for this obvious ploy.
It does not matter who shows up at the ballot box. They have already chosen their next face to push the Communist agenda.
We do not know which color the Communist will be, red or blue.
If they chose blue, they will need to sell why. They will say that Conservatives thought they had it in the bag and stayed home, and the Liberals were fired up by Abortion and Student Loan Forgiveness.
What DO We DO?
Student Loans are a scam, to begin with. We need to call for the government to get their thieving hands out of the pockets of our kids.
To quote my trainer again, “Do not allow your children to receive student loans.” I want the entire federal government abolished, but the Department of Education is a really good place to start.
This contract for student loans is made largely with 18-year-old children in an atmosphere designed to coerce them into signing away their future financial security. This program is designed to stop middle-class people from upward financial mobility by burdening them with enormous debt.
I am an Anarchist, I see government for the criminals they are. I do not argue that the $10k is coming out of my pocket. End the daily theft of taxes. If the government wants to give you money TAKE IT! It is the state STEALING money I have a problem with.
Stop falling for the LIES and PROPAGANDA.
Stop being led into fighting for government plans.
You are FREE the moment you are born, start acting like it.
END the Student Loan Program entirely and FORGIVE EVERY PENNY. That is how the GOP could get an Anarchist like me to vote for them.
