Does the writer not know that the "government" in the above sentence means the "tax payers", or does he/she just hope his readers don't know that?
What's behind those projections? It's simple: Millions more people would be able to buy homes and cars, start families, and pump money into the economy that would otherwise have gone to debt collectors.
Aren't the "debt collectors" part of the "economy"?
Now, you may ask, what happens after we wipe out all student loan debt? Wouldn't it just start accumulating anew again the very next day? No. Because any debt cancellation should logically be paired with a new free college policy. We need to create a total reset on the way America administers higher education.
So, how exactly does college become "free"? I'm assuming that the tax payers, er, the "government" would pick up the tab, right? What does THAT do to our economy? And, if the "government" is paying for it, then the government is calling the shots on how the school is run, what courses are available, etc.
I'd sure like for my mortgage and truck payment to be "canceled". But, I remember signing a contract that said that I would pay back my loan. I received the benefit, now it's my turn, my responsibility, and my moral obligation to pay my debt.
Student debt is more a signal of lack of personal responsibility, than hapless, helpless students.
Perhaps college costs are the next bubble that needs to be popped, so the cost of education is not ridiculously high.
Why should taxpayer dollars be spent to help people who make bad financial decisions? Are these graduates too brainwashed to realize that they have been "taken" by the universities and their attendant high costs?
Are they the "snowflakes" who cannot connect the dots, but do know how to play the blame game?
Great. And they can send me a refund for the loans that I Already paid off. And don’t forget the interest. /sarc
Canceling America's $1.4 trillion in student loan debt would cost $140 billion per year for a decade. That's about the cost of the recent Republican tax giveaway to the rich....
Latinos suffer from delinquent loans at higher rates than whites, and blacks much higher than Latinos. In this sense, debt cancellation would be a powerfully progressive move.
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Now, you may ask, what happens after we wipe out all student loan debt? Wouldn't it just start accumulating anew again the very next day?
No. Because any debt cancellation should logically be paired with a new free college policy.
Just the headline makes me boil. Like a lot of folks my age when I took out student loans I intended to pay them back. After years of sending in those little coupons with my monthly payment I was finally debt free. Of course that meant that I couldn’t spend that money on other stuff so there was some sacrifice involved. It also meant I had to have a job and try to improve my situation. I didn’t live with my parents either. Oh yes and I was raising three children. Now I’m expected to pay for these deadbeats while they skate free from debts they signed their names to?
“The case for erasing every last penny of student debt”
Judging by the capitalization, maybe every cent but one for Ryan Snowflake.
If the average debt is 30K, that really isn’t all that much for what you get (4 or more years at a school) and it is payable. Why the huge push?
Back 5 years ago, it was common knowledge within the SJW group that if you got in the right group, they would pay off your Student Loan debt.
They were using this as a recruiting tool and they want it back.