Sound, reasonable, concise and compelling argument …
But, (for some, just because)
How do they stop it from happening over and over like mentioned above. A one time is ok but if they don’t set future expectations then more will take out bigger loans thinking it will get reduced.
Again the state needs to fund schools better.
What if they choose an even more expensive private U, and get even more in debt though?
That was MY scenario.
As I said, the amount of student loan debt you incur is often a matter of CHOICE, specifically, a choice to either go to school out of state, or go to a private, instead of going to a JUCO followed by a State U near home.
We shouldn’t all have to pay for those financially risky or even irresponsible choices.
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Choosing to get a degree (and going in debt to do so) isn’t quite the same as going into debt buying ski equipment.
Yes, both are “voluntary” but one choice benefits society in general while the other not so much.
Just like health insurance is different than flat screen TVs, we’ve had this conversation.
Getting an education should be easier than before not harder than before if the goal is having an educated populace. Shouldn’t be so dadgum controversial.
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Based on recent rulings by scotus in gun control and environmental policy i think you are wrong. Any member of congress can take this to court. Show me in the law where it gives the president authority to discharge the loans
The primary point of the home tax benefit as my reference is that most people will support tax benefits or advantages that they benefit directly from while complaining about ones that don’t directly give or save them money.
It does help both high and medium/low income which really is irrelevant to the part of the loan forgiveness considering the point being it is a benefit some get and some do not. Plus, the tax benefit is every year over the life of the home loan. That can be 30 years assuming a one time purchase and never moving.
I did just look it up and that cap is apparently a 10,000 deduction limit which is a lot over the course of the loan. Note the every year part vs a one time 10,000 loan forgiveness.
Did you consider going the military route?
It took me two minutes to find this. You can disagree, but here’s the rationale.
The first memo, issued by the U.S. Department of Justice Office of Legal Counsel (OLC) summarizes at the outset: “the [HEROES Act] grants the Secretary of Education authority to reduce or eliminate the obligation to repay the principal balance of federal student loan debt, including on a class-wide basis in response to the COVID-19 pandemic, provided all other requirements of the statute are satisfied.”
So giving money prior is ok, but not after. It is the same end result, money from the govt accounts.
With the mess of the education system due to public policy, loans are a given for most anyone except rich to go to school. Not simply the same choice as voluntarily made as you might when choosing to buy a jet ski.
This is a correction to a broken system not just a freebie. It is essentially just converting some loans into grants which you are fine with.
Are you fine with FEMA helping home owners that get flooded. After all, they had a choice on buying their home and its location?
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But WHERE you decide to go school generally is a choice, and if that choice is to a private or out of state public school, and you go even more into debt because of that choice than you otherwise would have…then that’s YOUR decision.
Why should everybody else have to pay for it?
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We’re talking macro policy here. Not some made up anecdote in your mind that you can specifically disagree with.
It’s not even an anecdote.
It’s a VERY common scenario, one that plays out all too often.
Don’t discount it. Those of us that have attended expensive private universities have seen it too many times. In my case, I had a full-tuition scholarship, but other people…well…they probably should have gone to a JUCO and a local state u.
Could have saved them from needing a bailout.
This has nothing to do with covid 19
Anecdote or not, common or not, it’s still largely irrelevant to the macro policy discussion at hand that higher education is more unaffordable now that it was 15, 20, 30, 50 years ago due to factors not controlled/determined by students resulting in a sharp uptick in student borrowing across the board.
And often made far worse by BAD PERSONAL CHOICES.
As I said, don’t expect the taxpayers to cover all those bad choices.
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The big issue is they call public universities, “public” but they fund them at 20% which means they aren’t really funded as public schools now. It’s not as high as Tulane or rice but it’s becoming out of reach for mainly the middle class. The rich can afford it and the poor get financial aid. So again Rick Perry sucks for what he did with deregulation and he’s prob complaining about debt relief for students but he caused it in Texas. So let’s just call them all private universities which is almost the case. Public high schools are 100% funded by us so they are truly public.
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The issue is govt loans. Take those away and tuition would drop and people would go to school where they could afford.
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“often” is doing a lot of heavy lifting here with no facts or evidence provided just vibes.