Discover and read the best of Twitter Threads about #studentloans

Most recents (6)

Yep, it's ANOTHER thread, this time about #studentloans and #debtcollectors.
Among all the usual stuff about how the whole "debt collection" business is 99% scammers and frauds masquerading as legit companies,…
and how the Trump administration is trying to legally protect their "right" to commit fraud, I found this stat that places a whole new spin on the "let's forgive student loan debt" argument.
#studentloans #debtcollectors
Show this to your angry older relatives who say "this will just reward lazy young people who got foolish degrees":
"According to a 2018 study by four bankruptcy law professors, the number of people ages 65 to 74 filing for bankruptcy has tripled since 1991,
Read 7 tweets
Fox Corp bought a majority stake in Credible Labs, which is a middleman for refinancing personal and student loans. 🤨

They take a cut from companies that give out the loans, which means they’re getting a cut of the personal & student loan pie.

No, they don’t charge users, but you know the companies who give out the loans are passing those charges along to you.

Not to mention all your data....
Read 3 tweets
1/ The 2017 tax law threatened TurboTax maker Intuit’s profits. So the company decided to address the threat by charging more lower-income Americans to file their taxes.

Here’s how it all went down — and how we at @ProPublica found out about it. 👇🏽👇🏽
2/ In our reporting, we kept hearing stories of people who clicked “free” but were charged $100 or more by TurboTax to file their taxes, apparently because they had #studentloans. So @justinelliott and @paulkiel started looking into it.
3/ With the help of former Intuit staffers and old versions of TurboTax from the @waybackmachine, they figured out what was going on: In response to the threat of simpler taxes ushered in by the new law, company execs huddled last year to figure out how to protect profits…
Read 11 tweets
I hope everyone who can, across the US, does everything they can to signal boost and protect @AOC. The CongressWoman is breaking norms and is therefore an existential threat to unchecked power.

Remember when the 'real ones' would call out injustice - until they got elected?
@RepJimmyPanetta my local congressperson is all about dialogue while refusing to be bold. I remember having a conversation about it with a friend, grousing about 'Jimmy', the friend said Panetta can't do anything because he doesn't have any power - yet.

His dad was #CIA,
Chief of Staff, SecDef, and a beloved congressperson from MoCo.

His mom and dad are multimillionaires who have the Panetta Institute where THE most powerful come and normalize power (I enjoy the lectures though, guilty pleasure)

Their homebase is #Carmel, where absent AG titans
Read 15 tweets
Saddling students with federal debt, when the federal government has no need to collect the debt, makes no economic sense, and in fact is harmful to America’s future.

So why do we do it?

Motivated by Gap Psychology, the rich wish to distance themselves from the not-rich.

One of the many ways the rich do that is by indebting the not-rich.
Because the rich pay for their children’s college simply by writing checks, while the not-rich pay by borrowing, the student loan debt is a perfect device for widening the Gap between the rich and the rest.
Read 8 tweets
This former tax attorney is about to go on a #twitterstorm about this #BillionairesFirst tax program & how it is contrary to our values 1/12
#BillionairesFirst tax plan eliminates the adoption deduction. There are 125K adoptions a year that cost about 20K a year. 2/12
#Sec1308 eliminates the deduction of medical expenses. Until #MedicareForAll we need this deduction. 19% of Americans used this in 2015 3/12
Read 12 tweets

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