This is just completely wrong....you signed the damn contract so pay your dues...pay up for your education you sooo desperately wanted. No one forced you to take an $87,000 student loan, you received an education now pay your loans.... Now these borrowers want to walk away....With the government talking student loan bailouts more and more people are refusing to pay. What are we setting up here...this could just snowball to other areas which if you notice it is with renters getting free housing since the pandemic touched down.... https://www.cnbc.com/2021/02/12/mee...owers-who-are-refusing-to-pay-their-debt.html
Just another attempt to "get away with something for free". EVERYBODY on the Left wants EVERYTHING FOR FREE... as best they can get. (That's the socialist way, not the American way.) Bring back "debtors prison", I say! Pay your F'n obligations or go to JAIL!
As soon as government forgiveness of student debt was first mentioned, you just knew that the cat was out of the bag, and people would stop repaying their student loans en masse. Remember the most important part about all of this - government "forgiving" student loan debts is much more about bailing out the lenders (banks) than it is about bailing out the borrowers (students). I would assume that at the time this bill was first proposed, banks were already deeply in the red on these loans due to students defaulting.
Not at all. The banks are NOT on the hook, and neither are the colleges (talk about a "moral hazard"). Government backing insulated them from risk. Those "on the hook" are the taxpayers. Banks and colleges are on the "gravy train" here with zero risk! Unfortunately part of the DemoCrap/Lefty cabal to destroy America.
There are arguments being made that killing student debt would increase growth by having those students now direct their loan repayment funds towards something else, such as consumption. I suppose the question then is: is the loss in defaulted loans outweighed by the gains in consumption or etc?
But there is a serious moral and ethical issue here. First, it was homeowners defaulting on loans and blaming bankers for lending them money they should not have qualified for. Now it's students, many with advanced degrees, blaming lenders for giving them money without restrictions. And now, Robinhood traders who broke their bank because they supposedly weren't informed of the risks. Where does it end? Guess what. It doesn't. P.S. I'm looking at a losing trade today. But not my fault. I had a bad relationship with my father.
Let them forgive all their debt. Just bar them from ever getting credit again unless they eventually pay it back.
The news service has reported he can eliminate the debt by executive order. If that is factual then I expect the first $50000 for front-line folks with student loans to get some level of forgiveness. I would also expect some needs testing/income cap.