[FLT-bird]

No. “Instant gratification” caused this debt crisis. The lust for I want it now. Now subsequently we are stuck with a payment crisis because of all the deadbeats. Bet they still have the latest iPhone.

The problem in many many cases is not that they have the money and are choosing not to repay. Nor is the problem that they have the money and instead are splashing out all sorts of cash on luxuries. In most cases they don't have the money. They literally can't pay. The good paying jobs they were promised which would enable them to pay back those huge student loans don't exist or were outsourced or filled with H1Bs.

Saying "no you MUST repay" is not going to raise much cash. They simply don't have it.

[rbg81]

Saying “no you MUST repay” is not going to raise much cash. They simply don’t have it.

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Perhaps for some. But plenty DO have it and are more than happy not to pay.

Also, forgiveness sets a very bad precedent.

[Rurudyne]

Then they should not have gotten that “education” in the first place and gone out and got a job instead.