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> This only gets worse if we do something crazy like forgive massive amounts of debt, whether it’s student or mortgage. The psychological effect on the people w

> This only gets worse if we do something crazy like forgive massive amounts of debt, whether it’s student or mortgage. The psychological effect on the people who have lived within their means and met their obligations will be radicalizing. Yep.

drcode 5y ago
I definitely feel like a sucker already for diligently paying off my school loans. A giant loan forgiveness program is probably coming.
- sulam 5y ago
  I wouldn’t feel that way. Not paying those loans has a large impact on people’s ability to do relatively normal things like buy a house or get a non-POS credit card. Those effects won’t go away even if their loans are forgiven. I do think you have a case to feel aggrieved, but at the end of the day you can choose to be someone who lives up to your standards or not. Getting upset about it is as much a choice as anything else you do.
bredren 5y ago
> The psychological effect on the people who have lived within their means and met their obligations will be radicalizing. First, this entry tries to conflate student loan forgiveness with a potpourri of ethical issues. It is not similar to the other examples. It is reasonable to question the structure of US policy toward student loan programs. They are predatory compared with those of other nations. If the US comes to terms with this problem, and major restructuring is done, is debt forgiveness on loans that are no longer even possible to get some massive psychological burden? It seems more like sour grapes of having to run your own loans through bad policy.
- brandonmenc 5y ago
  Exactly. The psychological fallout will be immense if an entire generation who have had their lives destroyed by and are still on the hook for these loans sees everyone else go to school for free, relatively or in fact.
  - JKCalhoun 5y ago
    My (grand?)parent's generation had the G.I. Bill. Sadly I had to pay my own way through college (and pay back the loans). I am not sure there is any psychological fallout I am suffering. In fact, I feel I had it easy — going to college in the 80's — I have no idea how this current generation can afford it. Nonetheless, skimming the Wikipedia article, seems the G.I. Bill may have greatly benefited the country. https://en.wikipedia.org/wiki/G.I._Bill https://en.wikipedia.org/wiki/G.I._Bill
    - brandonmenc 5y ago
      This example is imo not relevant because the G.I. Bill wasn’t “free” or universally offered (recipients had to fight in the war), the order is reversed (I’m talking specifically about an older generation in debt seeing the following generation get to go debt-free), and the amount of debt someone who attended college in the 80s accumulated is far less than that of someone who attended in the past decade or two. > Sadly I had to pay my own way through college Without qualifiers, there’s nothing inherently wrong with this. It becomes wrong when “pay my own way” means “convinced when I was still a child by all the adults around me to take out a predatory loan I have no hope of ever repaying.”
  - bredren 5y ago
    > lives destroyed Hyperbole to sell austerity
deleted 5y ago
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drcode 5y ago

I definitely feel like a sucker already for diligently paying off my school loans. A giant loan forgiveness program is probably coming.

sulam 5y ago
I wouldn’t feel that way. Not paying those loans has a large impact on people’s ability to do relatively normal things like buy a house or get a non-POS credit card. Those effects won’t go away even if their loans are forgiven. I do think you have a case to feel aggrieved, but at the end of the day you can choose to be someone who lives up to your standards or not. Getting upset about it is as much a choice as anything else you do.

bredren 5y ago

> The psychological effect on the people who have lived within their means and met their obligations will be radicalizing. First, this entry tries to conflate student loan forgiveness with a potpourri of ethical issues. It is not similar to the other examples. It is reasonable to question the structure of US policy toward student loan programs. They are predatory compared with those of other nations. If the US comes to terms with this problem, and major restructuring is done, is debt forgiveness on loans that are no longer even possible to get some massive psychological burden? It seems more like sour grapes of having to run your own loans through bad policy.

brandonmenc 5y ago
Exactly. The psychological fallout will be immense if an entire generation who have had their lives destroyed by and are still on the hook for these loans sees everyone else go to school for free, relatively or in fact.
- JKCalhoun 5y ago
  My (grand?)parent's generation had the G.I. Bill. Sadly I had to pay my own way through college (and pay back the loans). I am not sure there is any psychological fallout I am suffering. In fact, I feel I had it easy — going to college in the 80's — I have no idea how this current generation can afford it. Nonetheless, skimming the Wikipedia article, seems the G.I. Bill may have greatly benefited the country. https://en.wikipedia.org/wiki/G.I._Bill https://en.wikipedia.org/wiki/G.I._Bill
  - brandonmenc 5y ago
    This example is imo not relevant because the G.I. Bill wasn’t “free” or universally offered (recipients had to fight in the war), the order is reversed (I’m talking specifically about an older generation in debt seeing the following generation get to go debt-free), and the amount of debt someone who attended college in the 80s accumulated is far less than that of someone who attended in the past decade or two. > Sadly I had to pay my own way through college Without qualifiers, there’s nothing inherently wrong with this. It becomes wrong when “pay my own way” means “convinced when I was still a child by all the adults around me to take out a predatory loan I have no hope of ever repaying.”
- bredren 5y ago
  > lives destroyed Hyperbole to sell austerity

deleted 5y ago

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