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What do you think of student loan debt forgiveness as an economic stimulus?

Here’s a few reference links that raised the issue:

http://www.forgivestudentloandebt.com

http://studentloanjustice.org
.

Asked by:blogstr99

  • reporter posted: 09 Aug at 12:39 pm

    no way only students should profit.

    just make schools lower their tuition, which really means teachers have to take a pay reduction.:))

  • v b posted: 11 Aug at 7:15 pm

    Let’s see.

    On one side we have the education system claiming that college graduates will make more money than non-college graduates and stupidly encourage everyone to get advanced training even if they aren’t likely to use it.

    Oh, don’t feel like working and saving towards paying for school? (And getting an idea of how hard it is to save even $100 a month.) Let’s have financial aid and education credits so that you’ll go immediately after high school and continue to be dependents on your parent’s tax return….

    Oh, financial aid didn’t cover everything and mom and dad are out of money, here’s a student loan. Don’t like the stingy amount from the the government loan programs? Get a private loan. Don’t worry, you won’t have to pay until you graduate. And, hey, here’s a credit card or two if you still don’t think you have enough money.

    After all, since you’ll expect to make more money at graduation, it’s no biggie if you commit more and more of that phantom paycheck on your student loan. Of course you’ll be making $100K and have no trouble paying the loan, for your car, your apartment/house, furniture and oh, yeah, children of your own.

    After all, how hard can it be?

    I know these students feel that they had a gun to their head telling them HAD to go to school and HAD to run up these debts, but where were their parents? Their grandparents?

    Every 10 years we have an economic meltdown and layoffs. While the exact date can’t be predicted, they can be expected.

    The median household income is what, $50,000? Out of this we save, what, $5000? Of course a $40K debt is going to take forever to pay off, yet you see students signing up for that much every year.

    Why should I, as a taxpayer who did pay off my student loan before I incurred any other debt, have to pay more in taxes to let you off the hook?

    But hey, people walked away from their homes they no longer want and congress passed a mortgage debt forgiveness program so they wouldn’t owe the bank they promised to pay.

    I guess it’s not a leap in faith to argue that a student should be allowed to walk away from their eduation bills they no longer want and congress will write a bill to let them of the hook….

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