this post was submitted on 24 Jul 2024
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Realistically each bank will take that student / those students to court and have their wages garnished.
If it were one student the bank might write the debt off or they might send it to collections or a combination.
If it’s a ton of students they won’t take the hit in the pocket book. They will pursue it with all legal means.
Most banks probably are not going to write off many student loans. They can pretty much go after it for life and the loans usually cannot be discharged.
Absolutely, student loans are one of the pillars holding up the Wall Street machine. That’s like throwing away free money.
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