No. These "students" took on the debt, now they pay it off (where the hell do you think that "debt" goes on a Federally backed student loan if individuals can simply take a bankruptcy? US!!!). It will suck, they won't drive beamers or have huge mcmansions, they will simply not have their full pay for a decade or more until they fulfill their obligation. It is not my or anyone else's fault they took the loans.
What, they don't like a circumstance they created by free will so *poof*, they are forgiven? Screw that noise. The "impact" on the economy in reality will be a correction for poor planning on individual's decisions.
I say for every student defaulting on their loans, the schools they attended ALSO share in part of relieving the debt obligation as the schools should have vetted better themselves instead of running a mill.
“No. These “students” took on the debt, now they pay it off (where the hell do you think that “debt” goes on a Federally backed student loan if individuals can simply take a bankruptcy? US!!!)”
Then perhaps Dubya should have pursued a policy of eliminating Federally backed college loans. You and I both know why that wasn’t done though it’s impolite to mention.
“What, they don’t like a circumstance they created by free will so *poof*, they are forgiven?”
First only liberals talk about forgiveness of loans. I and others on FR back in 05 urged that the policy of bankruptcy for those UNABLE to pay back down college loans be maintained (which btw is NOT a free & clear method). The big gov GOP schmucks however had other plans & set up a nice protection racket for the loan industry.
“I say for every student defaulting on their loans, the schools they attended ALSO share in part of relieving the debt obligation”
Excellent idea.