Friday, April 29, 2022

Student Debt

So there’s serious talk about forgiving student debt. Back when I first went to college I dropped out rather than go into debt. It took 19 years for me to go back to college and that was part of a retraining program after a work injury. 

So how to I feel about forgiving student debt? I’ll all for it. Why not do something for the little people instead of the ultra wealthy for a change? There are plenty of programs that benefit the rich. When a Starbucks barista pays more in taxes than a billionaire there’s something wrong. 

Student debt was taken on by people who were told they could pay it off easily with their high paying jobs. There’s a lot less of those jobs than people expected. Worse yet, you could be forced to drop out of college through no fault of your own yet still have the debt. 

College has gotten stupid expensive at the same time having a degree has less value. 

There are plenty of people who’ve joined the military with the hope of getting college assistance. Think about it though, you have to put yourself in a kill or be killed situation just to go to college? Needing money for college should not be the driving force behind joining the military. You should serve for other reasons and not out of economic necessity.

Forgiving student debt would be a huge boost to the economy. Maybe those young people would start buying houses and starting families again? 

At any rate this discussion is probably moot anyway. After many months of student loans being suspended, a whole lot of people will not pay if it starts up again. A taste of freedom is a powerful thing.



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  2. I don't see this ever being a boon to the economy. Don't banks hold the notes to all that debt? Forgiving student debt would be a major blow to all of them, followed by what? Another bailout?

  3. Too bad for those folks that busted their butts, worked part time, paid their own way..and took 6 years for their diplomas....but never got sucked into the college loan BS.
    Do they get some sort of REFUND?

    My ex wife screwed up and bought a ridiculous car that didn't last....but she still had to pay it off.

    1. Yep. We all know that rich people will not pay for this. They will take the compliments and accolades - but you, the tax payer, will foot the bill. These elderly hippies never learn. If you want to let them off, fine - YOU pay for it.

  4. I'd be real pissed , if after twenty years I had just paid off my student loans last year !
    This would set a very bad example , for those that religiously paid off.
    I worked my way through and didn't take the easy route of loans !
    Pay your damn debts, you made them !
    Or give everyone , that has a rebate...