Not that it necessarily will, but I do think that the powers that be are “afraid” of a wage price spiral, where workers start asking for more and more wages in a reverse bidding war. Even the chairman of the fed, Jerome Powell, has said so many times. But I never really bought that that just happens by itself. Workers always want higher wages. Wages go up when workers are in the drivers’ seat. Boomers have retired. Gen Z is too small to fill in the gap. Trump reduced immigration. There are now more jobs than workers. So now that we are in the driver’s seat, why should we just eat the cost of our student loans? should our jobs not provide a living wage that helps us cover the cost of education, especially in a laborer’s job market like this one? If you have student loan payments coming in June, remember to look for more pay to take care of yourself, bc I am sure that is what many others will have to do to survive. Wall street is cheering for repayment bc they think taking money out of workers’ hands will cut down on inflation. Just go on twitter and you will see fund managers, CEOs, and investors alike cheering for people with student loans to take less home and reduce buying power their living standard. But wages need to catch up with the cost of our capital (the cost of what it takes to borrow money to go to school). It has barely even started and now they want to take away what little gains have been made. But it’s a job seeker’s market.
Open door business model is shit. Doordash business model is shit. But they got free money from loans at extremely low rates. You’re telling me that a car vending machine company that lights money on fire is somehow lower risk than getting an education? Or that trying to flip houses on a mass scale is less riskier than becoming a doctor? when house flippers can eat huge losses and blow up with just one wrong move? Call their bullshit. Wage price spiral. Give them what they are afraid of. Average, educated workers having pay that reflects the cost of their education.