Thread by @SLEPhoto

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,
huffpost.com/entry/federal-…

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,
#studentloans

while the number of people 75 and older seeking bankruptcy protection has more than quadrupled.
Part of the problem is new types of debt. About 2.8 million Americans older than 60 owe a total of $86 billion in student debt.
#studentloans

And according to CFPB data, nearly 40% of student loan debtors over 65 are in default. That didn’t happen in previous generations, when tuition costs were lower and people didn’t really accumulate student debt
#studentloans

or co-sign for the student debts of their children, much less carry that debt into retirement. "
So "2.8 million Americans older than 60 owe a total of $86 billion in student debt" and that number is only going to spiral.
#studentloans

#Democrats want to discharge these largely bogus debts. #Republicans are working hard to make sure #debtcollectors, who are almost all frauds and abusers, can exploit and harass people forever over #studentloans.
Remind me how there's "no difference" between the parties? /thread