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Total student debt is only ~5% of US GDP. We could undo the last tax cut and it would be paid for in a year. US taxes are at a historic low. There's plenty of
by throwaway189262 6y ago
Total student debt is only ~5% of US GDP. We could undo the last tax cut and it would be paid for in a year.
US taxes are at a historic low. There's plenty of money even to make school completely free. The idea that paying for student loans would affect the economy at all is nuts to me. Not even counting the corona bailouts we could have paid for it by just not lowering corporate taxes the last few years.
Student loans disproportionately affect the poor and middle class, to the benefit of the rich. The main reason that school has become more expensive and led to all these loans is huge cuts in state funding to colleges. For our parents most states paid over 70% of their tuition. That percentage is far lower now.
Basically I'm saying the money to pay for school used to be there, but it was taken away and now we have a whole generation in student loan debt. We almost owe it to those people to "make things right" and pay for their school just like we did for previous generations