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To be honest, I am not shocked anymore when the government changes things to benefit them. It happens all the time now. But if you really want to understand how far reaching the federal government can be, start defaulting on federal student loans. They will come get everything they "think" you have in order to receive payback.
I wrote about this specific subject in my new book, Start Winning With Money, but the laws on student loan debt have been written and re-written in order to allow the government easier ways to collect their money. They can do things that other lenders are not legally allowed to do, such as garnish wages. Ask yourself why the government should get preferential treatment over any other lender doing business in the United States? Here is a link to an article that quickly sums up how fast the government can destroy your future if you don't pay back your student loans. For a more detailed history on the subject, pick up a copy of my new book. |
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