The presumption that there is a decision making process requires a whole lot of privilege. There are a lot of kids who don't have any option -- don't go to school, even with a scholarship, or take out loans you can't afford. Add in the fact that the decision is being made by a 18 year old, and it's unconscionable. Also, there's a difference between handing out a check and forgiving debts owed to the federal government. The "owed" loans aren't being refunded; the government just deletes the line from the balance sheet.
nailed it I chose to go out of state, ignoring higher ranked cheaper in state options. I own my debt and my choice
i'll always enjoy the my life was hard and unfair so everyone else's should be bitterness stances even better are the i was completely absolved of these calculations due to privilege but think those that weren't should feel the pain of an oppressive system for not being born lucky
I agree with helping people pay off loans but this just reminds me of a legal assistant that used to work with me a few years ago. She had a bachelors degree and a masters in accounting. Took out max loans for both. I asked her why she was working as a legal assistant and she just said I'm not sure my husband makes okay money so I don't want to do a hard job. She mentioned she had like $180,000 in student loans. Her explanation for taking out the loans was because she wouldn't have to work if she was in school. She had not paid off any of her loans because "I figure the government will pay them off for me eventually." It's frustrating to reward that type of behavior but the people that actually are trying to pay them off need the money.
No, I worked/had scholarships/had financially savvy parents that sacrificed to pay for mine and my brothers’ educations but I’ll marry into about $50k. Make people volunteer and/or take some financial education courses to get them forgiven instead of just wiping them out across the board.
the mindset of people "deserving" of aid is so toxic, just an extension of welfare queen rhetoric which leads to bank shot policies that are so cumbersome they lose money in administration and don't help half the people that need it
So, we should be making teachers volunteer and/or accountants take financial education courses because their parents weren't "financially savvy" enough to pay their way?
Even if this is true, and there’s no reason to believe it is, who does this harm? The system needs to be fixed at its inputs, yes. But this is a zero harm option that can be done with no effort. P Sure, it may benefit some upper middle class kids who went to law school and can afford to pay back their loans, but it will also benefit a whole shitload of lower/lower middle class people whose loan payments are barriers to living life. Also, the upper middle class folks will have additional money to pay to Amazon and Tesla to trickle down or whatever. Seems like a good outcome. MARKETS! folks are happy and so are people who care about helping folks/pushing society forward. Nobody is harmed.
I really don't understand the incentive to be against something like debt relief other than some cultural grievance
No, they should be doing those so they learn from their mistakes and don’t bury themselves in debt again.
going to college shouldn't be a cost/benefit analysis literally everyone should be college educated no matter what job they have, it's good for society just make it free and silver spoon morons won't be able to finger wag poor people for being born poor to feel better about themselves.
Worse yet, so you can learn how to not *have been poor.* A lot of people with major student loan debt have good incomes and are making their payments. They just don't get the same benefit from their financial success as those who were born with more.
I’d love it to cancel. The private school I was at to study medicine kicked me out two months prior to graduation because I had to go to rehab after a tragedy. I’m sitting in 150k student loan debt without the career to pay it.
what’s this? You think everyone having good critical thinking skills and the ability to dive into topics and do some semblance of research is a benefit to society. Whatever socialist.
do we need to post the social mobility numbers for our privileged folks to stop thinking their success is anything but primarily about birth luck and to stop saying poor people ended up that way because of their "mistakes" insecure privilege is grotesque
I know someone who had his son do a paid 2 year electrician apprenticeship. Told him its easier to pay for school if you're making $40k & aren't desperate. Give yourself some time to decide what you want vs burdening yourself with debt. The kid now is working as an electrician & going to school part time to become an electrical engineer. Seems like a better plan than most imo..shrugs
I think there are other factors than cultural grievance. You don’t understand people who decided against taking out huge loans because it wasn’t a good financial decision? My wife stayed in state for law school because it was cheaper even though she would have loved to go to Northwestern or NYU. It made more sense to be financially responsible. She has about $50k left she’s paying off and says she understood what she was doing and while it would be nice she made the decision to take them out. Personal responsibility comes into play for those against it. I have 4-5 good friends who are doctors and they have anywhere from $200-$350k in loans but understand it also provided them a life where they can make $275k+ and they don’t think they should have it wiped. I get people need to take out loans but there are also people who go to private colleges and major in professions that won’t pay enough to pay off those debts. Whose fault is that? There are inexpensive options like community college the first two years and state schools where tuition is no where close to private schools. I’m ok with a relief plan for certain individuals who aren’t making over a threshold but lawyers, doctors and people with MBA degrees are making good money and I don’t think should be relieved. Maybe put a cap that up to $50k is relieved but not just a clean wipeout. As I mentioned I would have loved to go to Syracuse but didn’t want that debt.
Friendly reminder that the human brain isn't fully developed until you're 25 https://www.businessinsider.com/age-brain-matures-at-everything-2017-11 Just make better choices, though! Especially if you are a poor teenager with a lack of parental support or adequate high school education.
I went to law school in-state because it was considerably cheaper. It sucks that I had to make that decision and I hope my kids don't.
My parents were never rich by any sort of metric, they made smart decisions and planned well. Understanding simple personal finance can go a long way
So can having two parents who make smart financial decisions. You know that's totally out of the kid's control, right?
it literally can't be over 50k with the mechanism being discussed iirc but also the idea that people had to make unfortunate decisions in their lives so they'll be mad if future generations don't have to make those considerations is a bizarre and selfish position that shouldn't be given a second thought. grow up.
I sometimes feel like younger people are almost forced into a corporate world instead of building wealth to the cost of student loans and specifically health care cost. I finally turned my life around and worked at a non profit running an out reach program for inner city youth. Had to leave that due to Covid. My student loan debt is something that I just forget about because it’s so overwhelming. I admire people that paid it off. I wasn’t so fortunate but I’m still trying to build a life to where I can one day.
wifes in this boat and tbh we'd probably have moved abroad for a while if we didn't have the need for the income physicians get in the US to pay off the loans people get real confused how other countries train physicians for free but then their salary is only like 100-150k vs the golden handcuffs situation here
Debt paid off. I'm all for canceling debt, but want to make sure people entering college now or later benefit too. Kids today can't even get those fabled part time jobs that pay for everything that boomers like to jack off over.
Plenty of people understood what they were signing, and it was the best financial decision available. The choice of student loan debt and not getting an education isn't really a choice, though.
The privilege of being born into a family where you had an adult to support you and make "smart decisions" when you were a teenager. But fuck anyone who doesn't understand.
FYGM is so dumb. And it’s counter productive. It actively hurts the country having a generation saddled with debt like this.
the 10k would be for every federal student loan, no qualifications required as it should be, universal policies are the best
No shit, where did I say it was? My point is educating the population about making smart financial decisions will benefit everyone.
Right so let Biden just keep the freeze in place for 4 more years. It’s still on the books and not technically forgiven but gives years back to our generation.