38Chevy454
Thinks s/he gets paid by the post
I am struggling with the information and trying to understand what is going on with the talk about forgiving or reducing student loan debt. I am not sure if all the claims on either side are completely valid or without scrutiny. Claims such as:
1. Student debt is holding back those who have it so they can't get ahead.
2. Student loan debt is a racial/poor problem as those groups are more affected by it.
3. Forgiveness will benefit all Americans by freeing up money to flow into the economy.
4. Debt relief benefits the rich more since they are more likely to have higher income due to college degrees and debt incurred getting that degree.
5. Forgiveness is not fair.
6. If you do not support forgiveness you are being selfish.
7. The gov't money for student debt forgiveness could be better used on other spending.
8. Student debt is not as much of a problem as it is made out to be.
9. Forgiveness would be political suicide for Democrats.
10. Students took out debt, knowing what they were doing and need to accept responsibility.
11. Increasing student debt is a self-fulfilling problem since education costs are rising faster than inflation.
12. Forgiveness will not result in more money going to the economy if the debt amount is just sitting there not being paid by borrowers.
13. Millions of American people will be very PO'd.
14. Can forgiveness happen without a law passed by Congress? Can executive action make it happen?
I am sure there are more claims and statements besides what I have listed. Overall I am on the side that student debt loan forgiveness should not happen. I worked my way through school, no debt. I was also on the co-op and 5 year plan getting my engineering degree. What about all the parents that saved and scrimped to help their kids? How do they feel putting off bigger purchases and discretionary spending, just to see their neighbor's kid now potentially get forgiveness?
I do not see any way this can happen without major disruption and even further divide of the country. I fall on the "no" side and probably based on the fact I am firm believer in personal responsibility where you pay your debts.
Overall, please try to keep this out of political and let's discuss the financial aspects of it. I don't want it closed, although I certainly understand there is a bear in the room with the political aspects of it.
1. Student debt is holding back those who have it so they can't get ahead.
2. Student loan debt is a racial/poor problem as those groups are more affected by it.
3. Forgiveness will benefit all Americans by freeing up money to flow into the economy.
4. Debt relief benefits the rich more since they are more likely to have higher income due to college degrees and debt incurred getting that degree.
5. Forgiveness is not fair.
6. If you do not support forgiveness you are being selfish.
7. The gov't money for student debt forgiveness could be better used on other spending.
8. Student debt is not as much of a problem as it is made out to be.
9. Forgiveness would be political suicide for Democrats.
10. Students took out debt, knowing what they were doing and need to accept responsibility.
11. Increasing student debt is a self-fulfilling problem since education costs are rising faster than inflation.
12. Forgiveness will not result in more money going to the economy if the debt amount is just sitting there not being paid by borrowers.
13. Millions of American people will be very PO'd.
14. Can forgiveness happen without a law passed by Congress? Can executive action make it happen?
I am sure there are more claims and statements besides what I have listed. Overall I am on the side that student debt loan forgiveness should not happen. I worked my way through school, no debt. I was also on the co-op and 5 year plan getting my engineering degree. What about all the parents that saved and scrimped to help their kids? How do they feel putting off bigger purchases and discretionary spending, just to see their neighbor's kid now potentially get forgiveness?
I do not see any way this can happen without major disruption and even further divide of the country. I fall on the "no" side and probably based on the fact I am firm believer in personal responsibility where you pay your debts.
Overall, please try to keep this out of political and let's discuss the financial aspects of it. I don't want it closed, although I certainly understand there is a bear in the room with the political aspects of it.