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re: Uncle Joe "cancels" $7.4 billion more in student debt
Posted on 4/12/24 at 9:50 am to Night Vision
Posted on 4/12/24 at 9:50 am to Night Vision
This is a weird third rail topic. It really is a loser topic for republicans.
If you look into what is actually happening, most often what is being forgiven is interest only. The government has been in the practice of giving out these predatory loans to kids who are not qualified to get them and then setting up ridiculous payment plans that barely have the kids paying the interest due each month so they just keep getting larger and larger after years of payments.
If republicans wanted to get smart they sign off on student loan reform, even allowing some forgiveness but negotiate for student loan reform going forward so this issue is actually addressed but its way more beneficial for elected officials to keep the pissing match going for years and decades to come.
If you look into what is actually happening, most often what is being forgiven is interest only. The government has been in the practice of giving out these predatory loans to kids who are not qualified to get them and then setting up ridiculous payment plans that barely have the kids paying the interest due each month so they just keep getting larger and larger after years of payments.
If republicans wanted to get smart they sign off on student loan reform, even allowing some forgiveness but negotiate for student loan reform going forward so this issue is actually addressed but its way more beneficial for elected officials to keep the pissing match going for years and decades to come.
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