4 ms·

Any debt forgiveness in the first world is essentially a transfer of wealth, and it forgives everyone who very well could have paid, but hung out to get it forg

Any debt forgiveness in the first world is essentially a transfer of wealth, and it forgives everyone who very well could have paid, but hung out to get it forgiven. I took out a loan and it took me years to pay it off, why can’t others do the same.

voisin 6y ago
Depends on when you took your loan and what the cost of tuition was then, but this is really about reversing the insane inflation that only came about as a result of the loans in the first place.
- defertoreptar 6y ago
  What inflation are you referring to.
  - voisin 6y ago
    Inflation in the total cost of a post-secondary degree.
    - defertoreptar 6y ago
      Wouldn't student loan forgiveness only put more fire on that inflation?
bobbylarrybobby 6y ago
In my opinion, a more equitable solution is to simply give everyone who took out a student loan a fixed amount of several tens of thousands of dollars. If you paid off your loans already, great, your reward is free money.
- bluGill 6y ago
  What about those who worked hard and took a few more years to not take out a loan in the first place?
  - bwb 6y ago
    Good for you :)! I paid off my loans through a combination of hard work and luck. I'd love to say it was all me, but it wasn't, I had great role models, I am lucky enough to be born into a country with amazing infrastructure, and many other reasons that have very little to do with me... My question for you is do you want a stronger country? Or, just a stronger you? As a country are we just a bunch of people out for themselves, or are we a community? I am a firm believer that the more Americans who are doing well in life, the better off we all are. The more Americans who are secure financially the better off we all are. The more Americans who can afford additional services and products the better off we all are. The more Americans who have a little bit of financial freedom to start a company and create jobs for other Americans the better off we all are. Repeat, repeat, repeat. A little selfishness is good, but too much and everyone starts to view everyone as competition and "success" as a zero sum game. I want the kid down the street from me to be doing as well as my kid. What do you think?
    - bluGill 6y ago
      After a few days, I'm even against it for the reason you used as a pro. If people learn personal responsibility isn't rewarded then they will aggressively spend all their money now counting on rainy day funds. Which is fine until nobody has saved and there isn't enough and everyone loses. If Biden wants to solve the problem (and he should), then he needs to address why college tuition has been going up at much faster than inflation for years. Professors are not making any more (perhaps less, if non tenure track professors are more of them?). Government is spending less, but not that much less. So where is the money going that causes tuition to go so high. I don't have answers, that is a hard problem, but it needs to ben confronted. There is no reason why a class of 20 working fast food wages cannot with careful living pay a professor their wages as a part time student. The math works out, so why is tuition so high?
- indymike 6y ago
  The more equitable solution would be to give out money even if you never had a loan. Why should I have to pay for your student loan. I never had a loan to begin with.

voisin 6y ago

Depends on when you took your loan and what the cost of tuition was then, but this is really about reversing the insane inflation that only came about as a result of the loans in the first place.

defertoreptar 6y ago
What inflation are you referring to.
- voisin 6y ago
  Inflation in the total cost of a post-secondary degree.
  - defertoreptar 6y ago
    Wouldn't student loan forgiveness only put more fire on that inflation?

bobbylarrybobby 6y ago

In my opinion, a more equitable solution is to simply give everyone who took out a student loan a fixed amount of several tens of thousands of dollars. If you paid off your loans already, great, your reward is free money.

bluGill 6y ago
What about those who worked hard and took a few more years to not take out a loan in the first place?
- bwb 6y ago
  Good for you :)! I paid off my loans through a combination of hard work and luck. I'd love to say it was all me, but it wasn't, I had great role models, I am lucky enough to be born into a country with amazing infrastructure, and many other reasons that have very little to do with me... My question for you is do you want a stronger country? Or, just a stronger you? As a country are we just a bunch of people out for themselves, or are we a community? I am a firm believer that the more Americans who are doing well in life, the better off we all are. The more Americans who are secure financially the better off we all are. The more Americans who can afford additional services and products the better off we all are. The more Americans who have a little bit of financial freedom to start a company and create jobs for other Americans the better off we all are. Repeat, repeat, repeat. A little selfishness is good, but too much and everyone starts to view everyone as competition and "success" as a zero sum game. I want the kid down the street from me to be doing as well as my kid. What do you think?
  - bluGill 6y ago
    After a few days, I'm even against it for the reason you used as a pro. If people learn personal responsibility isn't rewarded then they will aggressively spend all their money now counting on rainy day funds. Which is fine until nobody has saved and there isn't enough and everyone loses. If Biden wants to solve the problem (and he should), then he needs to address why college tuition has been going up at much faster than inflation for years. Professors are not making any more (perhaps less, if non tenure track professors are more of them?). Government is spending less, but not that much less. So where is the money going that causes tuition to go so high. I don't have answers, that is a hard problem, but it needs to ben confronted. There is no reason why a class of 20 working fast food wages cannot with careful living pay a professor their wages as a part time student. The math works out, so why is tuition so high?
indymike 6y ago
The more equitable solution would be to give out money even if you never had a loan. Why should I have to pay for your student loan. I never had a loan to begin with.