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The fact that there is a need for such a program in the first place makes me uncomfortable. How bad has the student debt gotten to warrant such programs?
by akudha 8y ago
The fact that there is a need for such a program in the first place makes me uncomfortable. How bad has the student debt gotten to warrant such programs?
- xemdetia 8y agoI don't blame student debt wholly for this, the second factor is that public sector jobs are somewhere between 1/2 to 2/3 of a private sector salary. There is also general hostility to match private sector salary with public funds (for many reasons) and the math just doesn't line up. This forgiveness program makes sense for some of the silliness of government funding and budget allocation but it doesn't make common sense. It also makes sense if salary is lower that you get some benefit for the fact you can't pay down loans aggressively to minimize the impact of interest. I would also indicate that I feel like it's disingenuous to compare forgiveness programs of bachelors education compared to specialists like lawyers and PhD types where even state schools put you in the 80k+ club.
- poilcn 8y agoIt could be other way around. Such programs encourage making education/healthcare prices absurdly high as they guarantee the return without any responsibility from the colleges/hospitals/banks/loaners, etc.