Step One in making the Liberal argument that student loan forgiveness “will benefit everybody by stimulating the economy”.
Good choice in commencement speaker
Servicing a debt that one created teaches one responsibility, self reliance, resourcefulness and honor.
And he has now deprived them all of those lessons.
Sorry for those that sacrificed or saved...
Is next year’s class going to feel entitled to the same gift?
Demonstrators or riots if not there?
More stupid philanthropy. Rewarding most those who were the least responsible. And given the whole tax-deductibility thing, a chunk of it comes from what otherwise would have been the philanthropist’s full share of tax payments per our system.
Means that the payoff for each student is taxable income for 2019, due in 2020.
It is like saying that I have a $9000 auto loan without mentioning the vehicle, only worse. Nobody will make an auto loan for more than my car or truck is worth.
The government will quite gladly make a loan on a worthless degree.
They willingly took the money to finance their education. What is the problem? Did they think it was a gift? And $90K.... I hope he majored in a worthwhile field.
It’s stupid and designed to “prove” that the government must provide free college.
It’s very generous, and that shouldn’t be lost inn the commentary, but it’s also doing nothing to keep the class of 2020 from ending up in then same boat.
A college that spends four years getting their average graduate into $100,000 in debt is insane. There are only so many generous billionaires out there.
Good for him. I remember Malcolm Forbes did something like this when he died - he forgave employee debt. He acknowledged that it may be unfair to people who saved but he viewed it as a lottery. Something good that people weren’t expecting. I have no quarrel with it. Its better than spending it on booze and hookers, or donating it to the Democrat Party.
A nice gesture but he shpuld have left them with some skin in the game, so to speak. JMHO
The schools can keep raising fees as long as the students can borrow the money. And they keep raising the fees while the “quality of service” stays the same.
Since these loans are backed by the taxpayers the schools’ fees should be capped.
It means that every kid who paid his own way just got played for a chump.
What’s the catch , what will the students have to sign and give up
He will be a racist next year when he doesn’t do it for the 2020 class...………………………………….
Tax deductible and it makes you look good fame ensues,Bill Gates kicks dog.
Can you imagine the feeling of the kid who is just 1 credit shy graduating this semester?
Back in Jim Crow days it was a good education, but now that the top African American students are snapped up by the Ivies, and the second tier by the state universities, it's bottom of the barrel time.
It still looks good on the resume of a preacher, but that's about it.
Robert F. Smith bought those kids out of debt slavery.
Good for him!