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I don't see it. Academia already has this money. It was paid to them as tuition. If loans are forgiven, the money will be "moved" (so to speak) to the bank acc
by whyenot 10y ago
I don't see it. Academia already has this money. It was paid to them as tuition.
If loans are forgiven, the money will be "moved" (so to speak) to the bank accounts of the indebted, not academia.
In the case of state schools, student loans also benefitted the tax payers. Student loans means such schools can charge a higher tuition, which means they need fewer subsidies from the the state.
- baddox 10y agoBeing able to charge higher tuition due to government-subsidized loans IS a subsidy from the government, by definition. The government paying the resulting debt would be a further subsidy.
- deleted 10y ago[deleted]
- MrQuincle 10y agoWe (my wife and me) would be so happy if we can just pay the principal and not accumulate interest anymore. The latter amounts to a bill of $700 each month. Or if the interest rate would be capped at 5% or less. Moreover, I wish it went to the professors etc. but with intermediaries like Great Lakes I also fear that even that is not the case.