Okay so for starters I am for cancelling this debt.
But this thread is full of people in this thread making false equivalencies with regard to why people might oppose this. Things I’ve seen:
“Fuck you I got mine”
“My dad died of cancer so it’d be wrong if them to continue cancer research”
“Just evil”
“A bunch of people who don’t have debt”
Etc.
And for all of you this applies to I offer this: What is the plan for preventing it from continuing after the current orders of debt are cancelled? Is there anything? I genuinely haven’t heard it if it exists. If there isn’t a plan on stifling the lending rates forever more, then the issue will just resurface, likely worse. I’m all for cancelling the debt but is there a plan for preventing the debt?
That’s literally always been the goal, and conservatives have pounded their chests and dragged their feet, and now liberals have had to back up to doing subtle payment plans and exclusive relief measures that require a person to be in debt for decades.
I’m sorry, but what a bad take.
Same. I paid off my loans but I’d love it if my friends and wife had an easier time. To say nothing of the millions being dragged down by over a trillion in debt.
But I get why people who may have invested in Student Loan asset backed securities might not want student loans forgiven. SLABS may be part of 401Ks or pension plans. I think debt shouldn’t be something people can even invest in, but for those who did, I get why they oppose it. It could even potentially harm a student paying back a loan who also has a retirement account that invested in SLABS.
And this absolutely is just a band aid on a gaping wound. It doesn’t actually resolve the problem, and with no attempt to remedy it in the future, I can see it just making college access even more difficult for the less fortunate.
Biden should do everything he can to push it forward, but that is just a first step, and the people opposed to it may have some valid concerns.
