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Agreed. Any discussion of student loan debt cancellation is a non-starter if there isn't some proposed reform to address tuition costs. And, here's some food fo
by BitwiseFool 6y ago
Agreed. Any discussion of student loan debt cancellation is a non-starter if there isn't some proposed reform to address tuition costs. And, here's some food for thought, why not fund the forgiveness by taxing the universities and colleges who got the students into this mess? If you do a deep dive into university finances, their endowments are run like hedge funds and they're given extensive tax advantages.
- eesmith 6y agoWhy not get rid of the law that says tuition cannot be discharged during normal bankruptcy? The law that Biden helped pass - https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020 https://www.theguardian.com/us-news/2019/dec/02/joe-biden-st... . https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_an... - "BAPCPA amended § 523(a)(8) to broaden the types of educational ("student") loans that cannot be discharged in bankruptcy absent proof of "undue hardship." The nature of the lender is no longer relevant. Thus, even loans from "for-profit" or "non-governmental" entities are not dischargeable." Get rid of that law, then everyone deeply in debt can declare bankruptcy just like they would any other debt. Instead, lenders get to shift nearly all of the risk onto inexperienced teenagers and young adults.