Student loan freeloader 'gets lucky,' and taxpayers pay

Burning Man, the so-called music festival, ended in a deserved "climate change crisis" disaster on Labor Day.

The holiday that honors hardworking individuals and signals the unofficial end of summer, has come and gone, so now students, ranging from kindergarten to college, are back in school.  And in another few weeks, most of those post-college students who took out massive loans to ostensibly complete their education will have to resume payments on said loans plus interest, which had been temporarily suspended because of the COVID crisis, as a majority of mean congresspeople, defying that nice befuddled president, Joe Biden (D), so decreed.

But wait, you privileged student freeloader — there is hope!  Writing — appropriately enough — in the New York Times, "freelance" journalist (i.e., still a freeloader, still unemployed) Nick Keppler triumphantly relates:

I Stopped Paying My Private Student Loans, and Somehow Got Lucky

One borrower's story about falling behind on payments, defaulting on his private student loans and waiting out the statute of limitations on debt collection.

In a coincidence of timing, I was no longer on the hook for the other half of my student loan debt — private loans I had defaulted on, totaling about $12,700.

They were now uncollectable: outside the reach of debt collectors and the monstrous assemblage of complex financial instruments that claimed to own it. The statute of limitations to sue to collect a debt in Pennsylvania is four years. I had waited it out.

In other words, Nick Keppler stopped paying his student loans, so we responsible taxpayers — the hardworking auto mechanics, farmers, sales clerks, restaurant servers, farmers, taxi drivers, barbers, beauticians, and many others — automatically got unlucky.  We can't "wait it out."  You see, that $12,700 has to somehow be repaid.  It will come from us unlucky responsibles in the form of higher taxes and higher prices.  Inflation.  Other trickle-down unlucky effects from Keppler's "luck" will be responsibles thrown out of work — i.e., higher unemployment.  Bankruptcies.  Fewer opportunities.  Dreams dashed.

Unluckily, those statutes of limitations never run out.

While Keppler, the unemployed freelancer lolls around, smugly applauding his "luck," "waiting it out," Oliver Anthony, a not so rich man south of Richmond, has a few words contrasting Keppler's "luck" with "people like me."

I've been sellin' my soul, workin' all day
Overtime hours for b------- pay
So I can sit out here and waste my life away
Drag back home and drown my troubles away

It's a damn shame what the world's gotten to
For people like me and people like you
Wish I could just wake up and it not be true
But it is, oh, it is

Image: pasja1000 via Pixabay, Pixabay License.

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