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re: Why are most of you so aginist student loan forgiveness?
Posted on 3/25/20 at 3:13 pm to Joshjrn
Posted on 3/25/20 at 3:13 pm to Joshjrn
quote:
In fairness, something like 90% of student loans are held by the federal government. Forgiving them technically costs nothing. It's just a book wiping.
Student loan debt exceeds $1.5 trillion. Wiping that out would reduce a large source of income from the feds. That would have to be picked up somewhere. You figure out where.
It is not simple book wiping.
3
Posted on 3/25/20 at 3:15 pm to Macavity92
quote:
It is not simple book wiping.
Just tell the fed to fire the money printer up again and print 1.5 trillion. Bam, done. Seems to be how they handle every other problem.
Posted on 3/25/20 at 3:19 pm to Macavity92
quote:
Student loan debt exceeds $1.5 trillion. Wiping that out would reduce a large source of income from the feds. That would have to be picked up somewhere. You figure out where.
THANK YOU.
People saying it’s “costs nothing” are dumb as hell.
Posted on 3/25/20 at 3:21 pm to Macavity92
quote:
Student loan debt exceeds $1.5 trillion. Wiping that out would reduce a large source of income from the feds. That would have to be picked up somewhere. You figure out where.
It is not simple book wiping.
That's still book wiping.
Anyway, I'm not actually calling for forgiveness. I think that simply reducing interest to zero or near zero would make more sense. It's a debt that can't be discharged in bankruptcy. Charging 7% interest serves very little interest, as many people simply pay the interest until they reach the existing levels of loan forgiveness.
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