all the mass media hype about ‘crushing student debt’ is BS
designed to soften us up so we few remaining workers will agree to paying off the deadbeats’ loans
I had several student loans. I paid them all off and I was glad to have received them, too. Damned glad!
and yes, it delayed my purchasing some other stuff. so what? that’s both natural and unavoidable when you sign up for loans. there is no rule in life that says you can expect to just shuck your debts onto the backs of others to repay! and there is no rule saying you are entitled to renounce your promises to repay monies others entrusted to you....and just run out and buy yourself a new Corvette or even a new house.....instead. You pay your debts as promised and you buy more stuff you want in life as soon as you can afford those things ... not until.
Bullcrap. I worked my way through college (the first time) as a skip tracer for a state student loan agency in the 90s. Yes, there were those looking for a free ride and trying to scam us, but there were many more who were working and still having a hard time of things, with a medium-to-high-five-figures worth of debt, interest and payments hanging over their heads. And we were just starting to see the six-figure debtors becoming a reality.
I’m not for student loan forgiveness (as I reminded my classmates and profs, that simply translates into lump-sum taxable income to the IRS)...I say remove most if not all of the government loan guarantees, and make it dischargeable in bankruptcy with specified and tight conditions. It’ll shrink the pool of available money (due to the elimination of “moral hazard” via loan guarantees) but it will drag tuition costs down as well over time.