I think loans need to be restricted to only Stem degrees and should have public service requirements. Too many degrees that aren’t useful in todays economy
There are a lot of mixed emotions across the United States today. On one hand, people with federal student loans (making less than $125,000 per year) will now have $10,000 of their student loans forgiven. For those who are also below that income amount and received a Pell Grant in college, they will have $20,000 of their loans forgiven. AWESOME!! We’re celebrating with you!
On the other hand, there are people who worked hard to pay their (or their children’s) way through school or have already paid their loans off, and they are NOT happy. They have every right to be angry. We’re pretty pissed off for you too.
This all comes with a price tag of 300 BILLION dollars. Who pays that bill? The taxpayers. This is not free money. It will come at a price.
If this crisis is so horrible (it is) that they are actually forgiving $10,000 worth of loans, then why aren’t they going to stop MAKING student loans? It makes no sense, and this problem will just continue to hurt Americans.
For those of you who still have tens or hundreds of thousands worth of student loan debt left to pay, we are STILL with you, and you still have the ability to fight your way out of this mess. Don’t forget, no matter what impact today’s news has on you personally, you are in charge of YOUR life, and your future success is thanks to YOUR hard work and sacrifice. Do not give up! We’ll be here cheering you on every step of the way.
Isn’t there a way to draft folks who are indebted into some well-run (cough cough) government program?
Doesn’t have to be as rigorous as a military draft but something else like low level grunt work/paper work to support new infra building initiatives. At least this way they’ll be getting paid to help the country and/or get their debts erased.
This country built terrific road infra in the 60s and and now we are on this slippery socialism slope where no one wants to do real work.
Worst than that, youth today are incapable to do hard physical work or to be fit soldiers. The Yankee ethic work is now considered racist. We have all become welfare recipients. The damnatiton of urban society…
It’s important to remember that this forgiveness comes with a significant cost of 300 billion dollars, which will be shouldered by taxpayers. It’s not free money; there will be consequences.
While addressing the crisis is necessary, it raises questions as to why student loans aren’t being stopped altogether if they’re causing such problems. This ongoing issue will continue to affect Americans.
For those still burdened by student loan debt, we stand by you and want to remind you that you have the power to overcome this challenge. Regardless of today’s news, your future success depends on your hard work and determination. Don’t give up! We’re here to support you every step of the way. By the way, have you been following the 2024 Democratic Party presidential primaries?
Good question. Some students do need financial loans. Special interest groups expand the scope uncontrollably.
IMHO, student loans should never be forgiven. If it takes them the whole life to pay off, then it shall be. Need to let potential borrowers know this is what student loan mean, is not free money.
You know, I have been thinking about this student loan forgiveness idea and Biden is going about it wrong. Since no one put a gun to these people’s heads to get these loans in the first place, we really should not be offering 100% forgiveness. What I would advocate for, would be akin to how your 401K may work at your employment. The employer funds X matching dollar to whatever you set aside up to a max, say 3%. Translating to these student loans, I would propose something like, if you the borrower repay up to say $10K per year, the federal government will match you dollar for dollar or match you 50% of your repayment, or pay for $5K of your loans in my example. So, if you don’t repay a cent, the government doesn’t match a cent. This way, its on the borrow to try to repay as much as he/she can first. A free handout does not teach any lessons about managing your own finances.