I saw the video. Private SL lenders are contracting with the US Marshal’s service in Houston in attempt to collect up to 1400 accounts of ~30 year-old student loan debt.
Obviously, these debtors knew they still owed some money … even if a small amount (which has mushroomed over the years due to interest) and never sought to look into it and make good on it to get it off their records.
I don’t understand why these debtors weren’t sued after they defaulted long ago. I’m pretty sure private SL lenders are allowed to sue for collection of these loans.
Why try to force them into a payment plan NOW (at the threat of jail) when they have had 3 decades to locate these debtors and take collection actions?
Apparently, the statute of limitations never expires on outstanding student loan debt. That’s not surprising to me. No one in my family (immediate or otherwise) has ever taken one out and it is extremely likely that no one ever will.
It is better NOT to go to college (or go to a much cheaper college or nearly “free” ROP job training program) than to take out a student loan which will ruin your life right out of the gate, just as you’re trying to start it. I don’t believe in them.
