Student Loan Forgiveness: Can The US Erase Student Debt?
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Published 2019-04-29
Canceling student debt has gained steam with 2020 candidates vying for the votes of young college-educated Americans. On April 23, Sen. Elizabeth Warren, D-Mass. was the first 2020 presidential candidate to unveil a plan to erase large portions of student debt.
But what would it actually take to eliminate a big chunk of government-held student debt, and is it really a good idea?
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Student Loan Forgiveness: Can The US Erase Student Debt?
All Comments (21)
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Should the government forgive student debt?
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My cousin paid off his 30k loan in 3 years...not by his parents, but by living as if he was still a broke college kid after graduation. The problem is that people starts living more comfortable and buying things like a new car after graduation. Years later he was finally able to buy his new car, and upgraded his living situation. But, not until his loans were paid off.
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I think instead of forgiveness of debt they should concentrate on controlling the price of college tuition.
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Did she really just say “A car payment is unavoidable”?
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If I had to do it all over again, I would have gone to trade school.
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"In other countries, college is cheaper to begin with" THIS IS KEY Our colleges are overcharging us. Forgiving student loan debt will not change this, only reset the cycle. The schools already got paid.
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First the government should stop giving these loans and then we can talk about further steps.
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Has anyone ask the question why the cost of education when up 10000% the past 20 years? Books cost more?
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College now days seems like a scam. Rather get into trades. Atleast you learn your actual JOB with trades. No elective class bs.
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This is all a vicious cycle. The reason tuition is so high is because of how easy it is get these loans which increases the supply to these colleges.
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We have to stop overprescribing college. Most kids go to college "to get a good job" which is actually better achieved with vocational training, apprenticeship, and trade school. We have to encourage those and bring college back to where it was originally for: research and higher learning. Not a money machine
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Get rid of the federally insured student loan program altogether. Problem solved.
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how about this: find out what you want to do with your life, the sooner the better, then actually RESEARCH how to get there yourself, finding the shortest, cheapest path, dont listen to anyone, your parents nor high school, take responsibility for yourself and run your own life the main issue here is people not knowing anything: what they want, where theyre heading, finances, debt, etc, and being ignorant is expensive, dont make other people pay for your ignorance, or you will incentivize more of it
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why is college so expensive is the problem! canceling people's loans does not fix a broken system.
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College Fees Statement Room: $300 Tuition: $939.98 Landscape: $2694.98
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That girl may need a car to get to work, but she doesn't need a car loan to do it. Go spend 2 grand on a 1998 Honda accord/civic. People are living outside of their means. My wife and I had 60 grand in debt but we have already paid off 20k of it and plan to pay off the rest in the next year and a half or less. Just don't eat out and drive used old paid for cars.
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Dont have to completely erase the debt, but they could definitely offer better interest rates. Paying 6+% on top of increasing tuition is a vicious cycle. If they’re not going to regulate schools from gouging for tuition then they should provide better rates.
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Just lower the damn interests. In some countries, the student loan has zero interest when you are still in college, and needs to be paid off in a few years after graduation.
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The chick with the car payment and student loan payments needs David Ramsey....
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NO. Take responsibility for your actions and choices. It is hard sometimes, but find work—any work—and find a way to pay your debts. It is possible. Most people just aren't willing to do it if they don't immediately get their dream job and life doesn't work out exactly as planned. Sincerely, Someone who graduated with ~$150,000 in student debt in the middle of a pandemic
