What’s even worse about forgiving 10k in student loans.

Agreed. Amount forgiven should be much higher.

That was my first thought on looking at this as well. Basically, we're "bailing out" the people who had no business going to college in the first place. What exactly is this "helping"?

DEMS = Reward Failure

Leads to fricked up society of losers

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We don’t need student loan forgiveness, we need student loan reform.

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We need the government out of the student loan business all together.

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we need student loan reform.

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Agreed, government needs to get out of the student loan business...

Trade school is practically free for anyone that wants to attend and learn a trade... Most high schools have programs where students can graduate with a trade...

Also, everyone is not meant to go to college and the government should stop pushing everyone to go to college...

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we need student loan reform.

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Agreed. Make most expenses to gain a college education tax deductible, regardless of income. Students with higher wage earner parents are, for the most part, excluded from participating in scholarships, and the parents then shell out a ton of their savings to send them to school. My wife and I will spend over $200k sending our daughter to an out-of-state school. When you add the tax burden on top of that, it's an additional $50k to $60k.

I'm not looking for pity. We can afford it and it prevents our daughter from having to deal with this loan mess for years and years of her life. But recognition that we have been responsible, like many hundreds of thousands of other parents, will never come from our government. Instead, they coddle the weakest among us to reward bad personal decision making.

Government created this mess with the federally guaranteed loan program and while I feel sorry for those who got themselves into a bind, this relief program is a spit in the face of everyone who has been responsible, paid their debts and done without luxuries in order to save to send their kids to school or to pay off loan debt. One-quarter of a million dollars is what we'll have had to earn in order to send one kid to school. That's fricking nuts! However, it's worth it. She served an internship at ISN this summer and they have already offered her a position when she graduates earning six figures.

I hate this administration with the fire of a thousand suns!

the worst part is this doesn't solve the fundamental problem that got us here. People are still borrowing huge amounts to pay for college. This bill is like cleaning up the mess without first fixing the leak.

The cost of a college education has steadily risen the past few decades. And there's a reason why: Government subsidies. Look at the chart below. The cost of goods/services that have risen the most are all subsidized by the government. This is basic economics. The Government is essentially a guaranteed buyer for healthcare and education. Which means the suppliers of these services will continue to raise prices as long as they know the government will keep paying for it. The free market is not at play here, and its what we desperately need.

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we need student loan reform.

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the problem is that we have a symbiotic relationship between Politicians, Universities and Banks. Universities raise tuition, Govt approves raises, Banks and Govt manipulate interest rates, Banks approve huge loans on kids with zero capital or credit history, Universities greese palms of Politicians who make it easy to continue this scam and then these three all get rich as a result.


Meanwhile economically ignorant kids get stuck with a massive bill because they have been conditioned by the Big 3 into believing they must go to college to be successful and they must have the college experience.


I teach my kids that they only need to go to college if the career path they choose requires it, and they are to base their loans and college selection according to their future income will be. You don't go to Tulane if you're only making $50K in your career.

My little brother was finally doing well financially in 2020, and when the payment moratorium was put in place I told him he should keep paying his student loans to really get to the principal.

Hw took my advice, but got aggressive, and paid off his $28K in loans during the moratorium. He and I both got Pell Grants. He is going to be so pissed at me. My good advice cost him a boat or a few nice vacations.

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We don’t need student loan forgiveness, we need student loan reform.

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We need both. Unethical practices by for-profit technical institutions and other issues need to be addressed.