Student-loan-debt-forgiveness plans by --biden-administration

Finance
#565

Careful, I’ll report you to the SPCA :slight_smile:

In all seriousness, why just the private schools? Should we not go after UCLA, Berkeley, NYU, etc. for taking poor, gullible kid’s loan money without providing them with a means to repay the loans? For that matter, should we not go after their high school for not teaching them math? How about their parents?

Why should we go after the taxpayers, at all? They were kind enough to loan money to people who promised to pay it back. Why should they bear the brunt of dealing with [whatever adjective/noun combo that pops into your head]?

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#566

similar to mortgage brokers/banks giving bad loans, that were bailed out by tax payers too.
Everyone passed the buck.

For Profit incentives need to be removed from the student loan industry or education in general. I do agree that someone needs to punished (pitchforks out!) but not the hapless 18 y.o that was sold a bill of goods.

#567

$6B worth of free money

The Biden administration said it will cancel the federal student loan debts of about 200,000 borrowers who claimed to be defrauded by their schools. The announcement followed a class-action lawsuit settlement filed in federal court on Wednesday.

#568

Is this the angle he was looking for? Conceptually, I think most would agree that a lot of these students/borrowers were defrauded - not by their school, but by the government’s continual messaging that a college education is an entitlement and is necessary to become successful.

#569

When I was in high school, I don’t remember hearing this from the government. I just heard it from everybody. To a certain extent, they were and are right… if you study something in demand and go into that field.

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