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The US already has a 'loan forgiveness program' that works for every single loan _other_ than student loans, called "bankruptcy". It's worked for hundreds of y
by empath-nirvana 3y ago
The US already has a 'loan forgiveness program' that works for every single loan _other_ than student loans, called "bankruptcy". It's worked for hundreds of years, and we used to allow it for college loans.
- gnicholas 3y agoThere is one difference: student loans that are being "forgiven" are being put to taxpayers, whereas in bankruptcy the loans are absorbed by banks that lent money (and to a lesser extent, to parties with outstanding debts, such as vendors).