59% of Americans worry student loan forgiveness will make inflation worse
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Re: 59% of Americans worry student loan forgiveness will make inflation worse
#2The only way to "forgive" loans without causing inflation would be to screw over the banks by writing off the debt, forcing a credit crunch.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#3The only way to "forgive" loans without causing inflation would be to screw over the banks by writing off the debt, forcing a credit crunch.
Banks haven't held any standard student loans since way back in the Obama administration.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#4The only way to "forgive" loans without causing inflation would be to screw over the banks by writing off the debt, forcing a credit crunch.
> screw over the banks by writing off the debt
The banks don't hold this debt, the federal government does. That's why the federal government can forgive it. That's why the federal government has been able to suspend payments for 2 years. The government can't forgive debt held by someone else.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#5Inflation? You mean price gouging?
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#6[dead]
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#7The entire student loan debt issue has been framed badly, because hardly anyone understands the real problem: "As of March 2021, 54% of borrowers with outstanding education debt owed less than $20,000; 45% of the outstanding federal education loan debt was held by the 10% of borrowers owing $80,000 or more." https://research.collegeboard.org/media/pdf/trends-college-p...
Forgiving $10K across the board is dumb and mistargeted. $50K would be better but is still mistargeted. What we really need to do is get the unmanageable >$80K balances down to a manageable In my opinion we should be talking more about years of debt held rather than amount of debt held. In theory, college is supposed to "pay for itself", but if some people are continuing to hold student loan debt 10 years, 20 years, 30 years after college, then college obviously did not pay for itself in those cases.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#8Didn't they forgive a massive amount of bank debt during the 2008 financial crisis?
And that didn't cause any worrisome inflation.
Forgive these kids loans, who were just trying to go to college to learn and gain job skills to compete in the world and are now debt slaves.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#9No post body was provided.
Re: 59% of Americans worry student loan forgiveness will make inflation worse
#10The entire student loan debt issue has been framed badly, because hardly anyone understands the real problem: "As of March 2021, 54% of borrowers with outstanding education debt owed less than $20,000; 45% of the outstanding federal education loan debt was held by the 10% of borrowers owing $80,000 or more." https://research.collegeboard.org/media/pdf/trends-college-p... Forgiving $10K across the board is dumb and mi…
This is a great way to look at it.