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Agree...but any program to subsidize education should be done in a well-understood, predictable manner. It is deeply unjust and arbitrary for the government to

by hw-guy 3y ago

Agree...but any program to subsidize education should be done in a well-understood, predictable manner. It is deeply unjust and arbitrary for the government to retroactively hand out money to some people based on decisions they made long ago with different assumptions. Those people who chose a cheaper college for financial reasons; or who sacrificed their social life to work their way through college; or who paid off their loans early...would now be suckers for having made decisions that seemed financially responsible at the time.

synetic 3y ago
I don’t understand the sentiment. I paid off my student loans and I hope others get forgiveness. I don’t see how their gain is my loss. I am happy when bad situations get rectified even when I don’t benefit.
- hw-guy 3y ago
  Because you could have waited on paying off your loans, and under Biden's plan you would have got $20K handed to you. In that case, the decision to pay off your loans would have carried an opportunity cost of $20K to you. "I hope others get forgiveness." Loan forgiveness does not mean the debt magically disappears; it means somebody else is paying it. That "somebody else" is a taxpayer, who might be a plumber or Walmart clerk who never went to college. "Their gain" really is somebody else's loss, who likely makes less money than the beneficiary of loan forgiveness.
  - synetic 3y ago
    I believe your view is wrong. That plumber you talk about benefits from an educated society. We all benefit from this. Was it unfair to polio victims that future generations benefited from the polio vaccine? It’s ok when bad policies get fixed even though some are alive that were harmed by the bad policy. Of course the debt doesn’t magically disappear. It’s an investment into the nation to have an educated country. That investment pays dividends. It’s better to spend the money on this investment than bombs, militarized police, and a host of other programs.

by hw-guy 3y ago

synetic 3y ago

I don’t understand the sentiment. I paid off my student loans and I hope others get forgiveness. I don’t see how their gain is my loss. I am happy when bad situations get rectified even when I don’t benefit.

hw-guy 3y ago
Because you could have waited on paying off your loans, and under Biden's plan you would have got $20K handed to you. In that case, the decision to pay off your loans would have carried an opportunity cost of $20K to you. "I hope others get forgiveness." Loan forgiveness does not mean the debt magically disappears; it means somebody else is paying it. That "somebody else" is a taxpayer, who might be a plumber or Walmart clerk who never went to college. "Their gain" really is somebody else's loss, who likely makes less money than the beneficiary of loan forgiveness.
- synetic 3y ago
  I believe your view is wrong. That plumber you talk about benefits from an educated society. We all benefit from this. Was it unfair to polio victims that future generations benefited from the polio vaccine? It’s ok when bad policies get fixed even though some are alive that were harmed by the bad policy. Of course the debt doesn’t magically disappear. It’s an investment into the nation to have an educated country. That investment pays dividends. It’s better to spend the money on this investment than bombs, militarized police, and a host of other programs.