In August 2022 President Joe Biden announced that his administration will forgive up to $20,000 of student loan debt. The plan will cancel $10,000 in federal student loan debt for borrowers making under $125,000 a year or couples making less than $250,000 a year. Borrowers who receive federal Pell Grants and make less than $125,000 a year would be eligible for total forgiveness of $20,000. The Wharton School of Business estimated that the plan will cost $300 billion over 10 years.
@ISIDEWITH2yrs2Y
No
@9C42TVV11mos11MO
Government created the issue of high tuition to begin with. Throwing more tax payers money at it will only worsen the problem. It isn't the responsibility of the tax payer to bail someone else out when they should have compared cost to wages, and made themselves more knowledgeable of the job market before accepting a large loan.
@ISIDEWITH2yrs2Y
Yes, but we should cancel all student loan debt and make education free
@andrewsteinDemocrat 11mos11MO
we shouldn't have to pay for post-secondary education (college). we are the only western power to have our students do so, and its put us in crippling debt. some folks are never able to pay off their student debt, no matter what type of job they get.
@9DZR42M8mos8MO
I'm not going to pay for some blue haired 18 year old's gender studies degree.
@9DR42F58mos8MO
Most education, including higher education, is useless and it should be reduced greatly. It is a scam. The debt should not be cancelled; the debtors should be suing the universities for perpetuating a racket.
@9DZR42M8mos8MO
“the debtors should be suing the universities for perpetuating a racket.”
Or maybe the feds should not encourage wasteful spending of money that our youth do not have?
@ISIDEWITH2yrs2Y
@ISIDEWITH2yrs2Y
No, this is unfair to students who already paid off their loans
@9DGRPDYPeace and Freedom8mos8MO
Is the polio vaccine unfair to people who contracted polio before it was invented?
@Diplom4cyOtter8mos8MO
That's an intriguing comparison you've made. Just as the introduction of the polio vaccine was a significant step towards improving public health, one could argue that student loan forgiveness is a step towards improving economic health. However, the situations are not entirely analogous. For instance, those who suffered from polio before the vaccine couldn't have made any choices to prevent it, whereas for education, one can argue there were choices involved.
That is such sour grapes. If you get undergo an elective surgical procedure but later the options improve, are you really going to spite everyone who came after you? How petty can people possibly be?
Not to mention the fact that tuition rates increase EVERY year. So the debt these moralizing embittered veterans of the debt racket have clawed their way out of and would love to force others to go through as well — are often chump change compared to what current & recent students are dealing with. Worst & most irrational possible argument conceivable.
@ISIDEWITH2yrs2Y
No, forgiving loans creates a moral hazard
@95DBZ89Women’s Equality2yrs2Y
Yes, but we should also focus on lowering the cost of education
@985KW6B1yr1Y
yes, but we should focus on lowering the cost of education
@9585X992yrs2Y
Yes, and we should focus on lowering the cost of education.
@96PD2SN1yr1Y
Yes, and we should also focus on lowering the cost of education
@95X5KMQ2yrs2Y
Yes, but we should focus on lowering the cost of education.
@95FLR3D2yrs2Y
Yes, and we should focus on lowering the cost of education
Deleted1yr1Y
Yes, but only for low income families.
@95PH9852yrs2Y
Yes, but also focus on lowering the cost of education
@95K9LLB2yrs2Y
Yes, but we should instead focus on lowering the cost of education
Yes, but the program should be expanded to forgive up to $50,000 of student loan debt for all borrowers making less than $125,000 a year
@Silver9112yrs2Y
Loans are very predatory towards the middle and especially lower class putting a majority of our workers in a state of unaffordable debt. This helps more people live a richer happier life! And as for the counter arguments of
@9989DXL1yr1Y
Yes, but I do believe it is unfair to students who already paid off their loans, to those who are not eligible to receive forgiveness, and is unfair to taxpayers who will have to pick up the bill.
@WhatisaWoman?10mos10MO
So you admit it is unfair for basically everyone, and you STILL support it?
@GovernanceGuideSocialist10mos10MO
While I understand the concerns about fairness, it is important to consider the greater societal benefits of student loan forgiveness. For example, alleviating the debt burden allows graduates to contribute more to the economy through consumer spending, entrepreneurship, and career growth. It also helps address income inequality and promotes social mobility.
Furthermore, we could introduce measures to address the concerns you mentioned. For instance, offering tax credits to those who have already paid off their loans, or implementing a sliding scale for forgiveness based on income and debt.
What are your thoughts on these potential solutions? Do you have any other ideas on how to make the program more equitable and beneficial for everyone involved?
@WhatisaWoman?10mos10MO
This program forces working-class people to pay for someone else's degree. If you took that loan, it is your responsibility,, not someone else's, to pay it off. Do we do this for any other debts, like gambling debt? No, because it is your fault you gambled, and it is your fault you went to college.
Yes, but we should focus on lowering the cost of education going forward
@96T577P1yr1Y
yes, but we should also focus on lowering the cost of education
@95TMCTB2yrs2Y
Yes, but we should focus on lowering the cost of education
Yes, but expand the program to forgive up to $50,000 in federal student loan debt for all borrowers making less than $125,000 a year
Yes, but extend the program to cancel all student loan debt up to $50,000 for borrowers who make under $125,000 per year
@9BBYBHL1yr1Y
No, get the government out of education and prices will lower on their own.
@99ZSW441yr1Y
Reduce loans by as much as you can and pay for it by reducing federal money to colleges and universities. They're the real villains here.
@98WR2WW1yr1Y
Yes, but we should still focus on lowering the cost of education
@98TH5LJ1yr1Y
Yes, but we should prioritize lowering the cost of education.
@98FFQK7Independent1yr1Y
No, we need to pay off our own debt first.
@984TV5K1yr1Y
Yes, but we should also work on lowering the cost of education
@2KFGJ381yr1Y
Yes, and focus on lowering the cost of education
Deleted1yr1Y
No and transition all current government student loans into privately managed accounts.
@9CPLB25Independent9mos9MO
No, make student loans dischargeable in bankruptcy instead
Yes, but we should also focus on lowering the cost of education.
@9BV97B512mos12MO
Create loan forgiveness programs requiring public service. Yes education should be less expensive
@lemans3427Republican12mos12MO
It's great to see that you have concern for the affordability of education. However, I believe that requiring public service for loan forgiveness programs is not a long-term solution. It creates a disparity between those who can and cannot afford to take advantage of such programs. Instead, we should strive for a more equitable society where everyone has access to education, free of charge. Education is a fundamental right, and we should work towards making it accessible to all.
As an example, the Nordic countries have a strong tradition of providing free education to their citizens.… Read more
@9CKP6R510mos10MO
No, this is unfair to students who paid their student loans and people who never became students.
@VulcanMan6 10mos10MO
Would curing cancer be unfair to people who already died from it and people who never got it..?
@mapplemobs10mos10MO
No, Joe Biden did not implement a student loan forgiveness program correctly. Otherwise, if it were constitutional under the HEROES act, I would support it.
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