It sounds like you went to school in the 1970’s.
Things are different now, school inflation makes it much more difficult on young people than in the past.
That said, if you borrowed the money you are obligated to pay it back, not other people.
Agreed, but the generous student loans have made it possible for colleges to jack up their rates (much, much faster than the inflation rate).
I also went to school in the 1970s and it was common for people to pay their own tuition with a summer job and a part-time job during the school year. I went into the military and had $2,700 deducted from my pay during my four year hitch. When I got out, it was tripled and I received a $8,100 check to use for the school of my choice.
Back then, $8,100 would actually be enough to pay full tuition at a typical four-year college. Maybe not Harvard or Caltech but most schools back then.
So the colleges and universities brought this crisis on us and they should be held responsible for any college debt that gets written off. Make the schools hold the paper on these student loans. Every dollar of tuition relief needs to come right out of their endowment. Then see how much harder it will suddenly be for people to get school loans.
“It sounds like you went to school in the 1970’s.
Things are different now, school inflation makes it much more difficult on young people than in the past.”
I had to pay 12% for a mortgage in 1982.
2021 mortgage rate - 3.2%
I could not get food stamps because college students were categorically barred from the program back when I went.