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Should You Stop Paying Your Student Loans?

admin by admin
August 25, 2021
in Loans
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Student Loan Cancellation Through Bankruptcy Could Become Much Easier

For the first 100 days of the Biden presidency, the Debt Collective — a membership-based union of debtors and their allies — sponsored the Biden Jubilee 100 in which 100 student loan borrowers became “strikers” presumably to stop paying their student loans. Their goal was for Biden to cancel all student loan debt — including both private and federal student loans — within the first 100 days of Biden’s presidency. While that goal wasn’t met, the strikers gave several reasons for striking against student loans: financial struggles in the midst of the Covid-19 pandemic; threat of eviction; food insecurity; medical costs; rising tuition; mental health; fear of illness; and other unpayable bills. The student loan debt strikers shared their stories of how student loan cancellation will provide necessary financial relief

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