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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

@edsecmcmahon.govpeeps.us just made sure that the last contact that 7 million people have with Trump before the midterms is a bill from @MOHELA. Borrowers don't care how many times you call SAVE "illegal." They now know they will pay *a lot more* thanks to Trump. And then vote accordingly.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

We see this play out on former students' credit reports. These former students are not taking out mortgages and cannot lease a car. This is *economic warfare* being waged against the people who took on this so-called "good debt." It is maybe the biggest untold story about Trump's economy.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

.@noamscheiber reports on the feeling of hopelessness among a generation of people who went to college and who now watch the markers of middle class life slip out of reach. This is a huge story about the labor market, but it also is a direct result of student loan distress.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

McMahon rolled back affordable payments-- not just options put in place under Biden, but the decade-old REPAYE plan administered under Obama and Trump 1. With no way to afford payments and a system plagued by mismanagement, borrowers fell behind in mass. This was a choice.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

For reasons that are more ideological than economic, McMahon blames schools-- saber rattling about accountability while pulling the rug out from under borrowers. Under Trump, 3.6 million people defaulted on a loan. Nearly 8 million had catastrophic damage to their credit.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

Officials of both parties lied about the risks of loans and the gamble of paying for a degree with debt. But today, there is one particular liar who is responsible for much of the trauma recent grads experience: @edsecmcmahon.govpeeps.us. She designed a bait-and-switch that burned a generation.

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Mike Pierce @millennialdebt.bsky.social · 27/03/2026

.@noamscheiber never gets into the actual burden debt poses for grads on the brink. Loans were supposed to be safe. It was "good debt" in the words of Obama Ed Sec @arneduncan.bsky.social. Students were promised affordable payments even if they couldn't find good jobs. They were lied to.

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