I’m going back for a master’s degree this fall and am weighing the idea of taking out a federal student loan that I don’t need.
In normal times, I would have just used the university’s option to pay tuition/fees with a credit card and been happy with easily hitting a CC’s signup bonus spending threshold. However, given all the rumblings about Biden exploring ways to forgive between $10k and $50k of federal loan debt per student, the option of forgoing the CC cash back and rolling the dice on loan forgiveness sure is tempting.
Curious what the members of this community would do. Thoughts?
While I agree with the sentiment, that would seem to be difficult to administer unless they just disallow people who went beyond a BA/BS for any forgiveness. It the stimulus was any hint, they prefer a hammer to a scalpel for these programs.
From a political standpoint, mid-term elections are coming up. If only Congress can forgive student loans, then you need to elect Democrats to get student loan forgiveness. If the President can do it via executive order, there is no need to elect Democrats to Congress to get student loan forgiveness. The narrative is changing to fit where the votes are needed.