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This is an okay analogy on the surface, but there is another dimension to the student loan debt situation. The borrowers are not the poorest/most vulnerable of

• sjg007 4y ago
  Most of the student debt is from students who attend for profit colleges who do not complete their degree.
  • HWR_14 4y ago
    I don't think that's true in aggregate, and certainly isn't true when adjusted for population size. The average doctor has far more school debt than the average dropout. Now, a pause on the first 30k of debt (or any other number under 100k) would solve that issue. 30k was chosen because that number seems to be proposed at a lot as a cutoff.
  • kongolongo 4y ago
    That's just not true. “While 39% of borrowers did not complete a degree, they account for only 23% of debt borrowed” [1] The stats clearly show the vast majority of student loan debt is held by degree holders and disproportionately by graduate degree holders with extremely high earnings potentials (doctors, lawyers, MBAs)[2]. Remember debt is a financial instrument, not necessarily a bad outcome. Graduate degree pursuers often hold a lot more debt, but will become much better positioned to repay it a few years after graduation. [1]https://www.politifact.com/factchecks/2021/feb/12/alma-adams/democrats-say-40-people-college-debt-didnt-get-deg/ https://www.politifact.com/factchecks/2021/feb/12/alma-adams... [2]https://www.brookings.edu/research/student-loan-forgiveness-is-regressive-whether-measured-by-income-education-or-wealth/#cancel https://www.brookings.edu/research/student-loan-forgiveness-...