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> Here's a proposal: let's have the federal government bail out all credit card debt. Would you support it? I haven't read any studies done on the effect that

> Here's a proposal: let's have the federal government bail out all credit card debt. Would you support it? I haven't read any studies done on the effect that this could have but if it was: 1) researched and 2) financially doable (results in net gain) then yes I would. If as a society we can find that doing X will improve the quality of life for all Americans for very little financial cost to us and only a long term positive impact, I don't see why anyone would say no to that? > Many of the arguments you gave would also apply to credit cards, if not more (eg. 20+% APR compared to 7% for PLUS loans). Just to note I have ~20k of loans @ 12.625% APR. 7% is what government backed loans are like. Not at all what a majority of private loans are like. Comparing credit card companies to private student loans is more fair.

gruez 5y ago
>I haven't read any studies done on the effect that this could have but if it was: 1) researched and 2) financially doable (results in net gain) then yes I would. If as a society we can find that doing X will improve the quality of life for all Americans for very little financial cost to us and only a long term positive impact, I don't see why anyone would say no to that? Are there studies showing that student loan forgiveness would result it better "a long term positive impact" compared to the alternatives? eg. giving everyone a stimulus check, regardless of whether they have student loans or not, or giving everyone earning under $x a stimulus check?