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This is essentially my problem with it. I did very well in high school, and had many many offers to attend very expensive universities, many of which offered n
by axaxs 7y ago
This is essentially my problem with it. I did very well in high school, and had many many offers to attend very expensive universities, many of which offered no academic scholarships. I made a conscious decision not to take on that much debt, and had a much longer road to where I am now, and probably a lessened overall outcome. But I'm debt free. I'm too old to care now, but it's not fair to kids out there with mindsets like mine, to just start erasing student debt wholesale. In that situation, community colleges cease to exist and universities have incentive to skyrocket prices even higher.
- basch 7y agoIf we disregard "its not fair to me, when i paid mine off" and "this reduces my buying power because everyone is as well off as I am" as arguments, my problem with this is that it excuses the schools for jacking up rates as loan money became available. This is a bailout, and the banks / schools are the beneficiary. No more loans that will never be paid back. Schools get every inflated dollar from the last two decades. Instead of taxing everyone, shouldnt the schools who took the money be paying in for everyone they trained who is underpaid? https://thehill.com/opinion/education/442497-colleges-need-to-have-skin-in-the-game-to-tackle-student-loan-debt https://thehill.com/opinion/education/442497-colleges-need-t...
- AareyBaba 7y agoWe should just call this a bank bailout and that will shutdown this proposal. I prefer Andrew Yang's proposal to give every American a $1000/month divided funded by a value added tax. You could use that money to chip away at your student loans and it's fair because every citizen gets it.
- basch 7y agoAnd rent/mortgages would instantly go up $1000/m. And then we are back to a bank/realestate bailout.