41–50 of 483 posts
If we're going to be forgiving loans, we shouldn't be giving them out in the first place. Otherwise, we're going to be in the same spot in one generation's time.
Is not giving out loans at all necessarily better? Stop giving out loans, and higher education becomes even more elitist and out of reach.
Earlier quoted context omitted.
Just stop guaranteeing them, let students default on them. All these guaranteed loans that can't be discharged allows academic institutions to ratchet up the price. Let them calculate risk and price them accordingly.
The guarantee is the only reason the loans are made. Otherwise, you're lending a lot of money to someone with no income and no assets, and no one will want to make that loan.
It’s how I first read it. Since there are millions of US citizens with student loans that’s far less than 1% and doesn’t seem… news worthy.
Whatever broader relief the government is offering could be news but the details are extremely scant so far.
I wish they'd just make the interest on existing federal loans 0 and be done with it.
Now universities can continue to raise tuition and pay the administrative class even more. Uncle Sam has shown they'll pay it on his dime.
> At least 40,000 borrowers will receive immediate debt cancellation under the Public Service Loan Forgiveness (PSLF) Program. How is this news?
I think historically, the number of loans actually forgiven by the PSLF program has been very very low, even for people that qualify.
Now it's marginally less terrible and actually forgiving some people's loans.
It's crazy to cancel student loans and still keep issuing the exact same loans. If we believe the loans are unjust then the government should stop handing them out as the very first step.