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Fortunately most of the debt is held by the US department of Education, and could easily be written off. (Minor inflationary effects asside).
by gerbal 8y ago
Fortunately most of the debt is held by the US department of Education, and could easily be written off. (Minor inflationary effects asside).
- thrill 8y agoSo, your solution is to stick the taxpayers with the debt?
- Judgmentality 8y agoI feel like that's a small step towards rectifying the destruction of a generation. This country has too much inequality as it is.
- gerbal 8y agoThe actual costs of student loan forgiveness is fairly marginal compared to the economic benefits [1]. Further the federal government can write off debt without anyone ever having to pay for it. Student loans are created by the Treasury for the Department of Ed, repayment just gets dumped onto a balance sheet in the treasury that has no relationship to reality. [1] http://www.levyinstitute.org/publications/the-macroeconomic-effects-of-student-debt-cancellation http://www.levyinstitute.org/publications/the-macroeconomic-...