141–150 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.
what happened to the free market economy? the incentive structure is fucked. As a person who worked my ass off this decade, it is unfair :(
Anyway, you could get loans paid off if you worked public sector, but you usually come out ahead working private sector in the same field.
Please, please, please take note before commenting: These are being forgiven under the Public Service Loan Forgiveness program, created in 2007 (fifteen years ago), which eliminates your remaining debt after you've made ten years of payments while working in the public sector (government or non-profit). This has nothing to do with current debates around loan forgiveness.
Seeing tons of comments about what people THINK an article says or about their opinion on something related is causing me to use this site less and less.
IMO this is more an example of how bad journalism can have damaging effect on even a well versed audience.
Earlier quoted context omitted.
People in the US are always punished for being financially responsible.
People who have paid their student loan debt are in exactly the same situation they were after this forgiveness than they were before: that is, they have no student loan debt. People in the US are not punished for being financially responsible. They are rewarded for taking risks, but not punished for being responsible. Very different.
I wish they'd just make the interest on existing federal loans 0 and be done with it.
Sounds ideal in principle (principal?), but low interest/risk on student loans is what allowed tuition to inflate well beyond general inflation in the last several decades.
I could imagine there's a lot of people who: 1. Are paying/had paid their mortgage properly. Usually implies being down to earth and choosing a home you can actually afford. 2. Paid their student loans. 3. File and pay their taxes properly. 4. Have never went unemployed, or better yet, they're self-employed. 5. Never played stock market bets, as they're more conservative and prefer to save money in a predictable way…
This is about a 15 year old program and nothing to do with current political sentiment. Those same people always had the choice of complying with this program as well.
Please don't tell me it is "the satisfaction of knowing that their hard work and taxes benefit others who are less fortunate than them".
I know every European seems to ask this of every American but what is the resistance to a welfare state? if you look at a government as investing in its citizens like a VC fund, then providing education and medical care is sensible, and some will turn out fine and others will be Bezos and then you can get your investment back via tax. I am honestly trying to avoid the flame war here - but I do it know how else to fra…
Americans see themselves as the descendents of their own unique "first generation" ancestor who broke ties with his people of origin and came here to stand on his own two feet. We don't see ourselves as responsible for YOUR first generation ancestor's home country problems or failure to make it here. We may in our newly formed ethnic enclaves take care of each other, but that's opt in. Patriotism to us is about preserving that independence- not a shared lineage. I am generalizing here obviously, but you were asking a kind of zeitgeist question. Hope I help something click for you.
When you say "cancelled", do you mean "told the creditors to eat shit" or "we paid the creditors off"? Because everyone thinks #1 is happening, when usually it's #2.
And yet the content of a college education can be had for free on YouTube. Colleges don't sell education, they sell a credential.
Public policy has been lagging behind technological reality for decades on this one.
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.
A wise man once told me "The first thing you should do when you find yourself in a hole is stop digging". This is my standard response to the student loan crisis and many others.