Trump's 'New' Loan Plan: Same Old Wall Street Rip-Off
The idea, we're told, is to 'relieve' the government of its burden while 'streamlining' things for borrowers. But let's be real: this isn't about benevolence. This is the government offloading a massive asset—your future earnings—to corporate vultures who will turn debt collection into a highly aggressive, privatized industry. One might remember how Sallie Mae, once a government-sponsored
entity, shifted to a private enterprise, with interest rates and collection tactics escalating dramatically once profit became the sole driver. Donald Trump's previous administration made similar moves, including a directive in 2017 to explore selling student loans. The goal posts never change: transfer public assets to private hands, ensuring private entities profit richly while borrowers face
even harsher, less forgiving collection practices. The 'chaos' an expert warns of? That's just the sound of Wall Street calculating its next payout.