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Post by cliffs on Feb 17, 2021 17:05:19 GMT
Biden on cancelling $50,000 in student debt: 'I will not make that happen'
Democrats have been pushing President Joe Biden to cancel $50,000 in federally-held student loan debt for roughly 43 million Americans through executive order. The president is not planning on doing that.
"I will not make that happen," Biden said during a CNN town hall on Tuesday night when asked if he would support cancellation of $50,000, adding that it "depends on whether or not you go to a private or public university" and that he’s opposed to saying that he was going to “forgive the debt, billions of dollars of debt, for people who have gone to Harvard and Yale and Penn.”
Forgiving $50,000 for each borrower would cost roughly $1 trillion. The president argued that money would be better used "to provide for early education for young children who come from disadvantaged circumstances" and free community college.
I am on the side of using the trillion dollars to make community college free (AS LONG THE STUDENT GRADUATES)
As for others who graduated with a ton of debt....I say they have to pay it back. I say that because of all the people who bought a home or even a car and then the pandemic hits and they lose their job(s). Real tough to feed the kids or pay the bills for some. Are they (home owners) going to get a handout to cancel some of their debt?
To our resident antiliberal poster I am not one of those people. My home has been paid off for almost 20 years now. I have ZERO credit cards and I don't buy anything I want unless I really need it.
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Post by ErixonStone on Feb 17, 2021 20:58:31 GMT
As for others who graduated with a ton of debt....I say they have to pay it back. I say that because of all the people who bought a home or even a car and then the pandemic hits and they lose their job(s). Real tough to feed the kids or pay the bills for some. Are they (home owners) going to get a handout to cancel some of their debt? This is a terrible reason not to cancel student debt. Your argument boils down to: "It sucks that I had to be saddled with debt; I want that for others." I don't have student debt. My wife accumulated $17k over one year, before she transferred to a City University where she didn't need to take a loan to cover. 25 years later, the debt is finally almost paid off. Student debt, in a society that erects professional roadblocks for people without college degrees, is highly immoral and a major drain on the economy. The average State University tuition is $10,000 per year. This is an unnecessary burden on our young working population. Cancel student debt. Boost the economy. I don't care that it could potentially help Harvard grads - the net benefit of helping Michigan State grads and SUNY Buffalo grads and Oklahoma State grads is much much greater than preventing the odd Ivy League grad from getting assistance they don't really need. Most of those Ivy Leaguers have their tuition paid by their parents anyway. Cancel all student debt. |
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Post by ErixonStone on Feb 17, 2021 21:09:23 GMT
Two additional points:
1. By "college" is also mean to include Trade Schools. I recognize that traditional college isn't for everyone. We should pay for citizens to learn to be car mechanics, plumbers, electricians, and all of that, too.
2. Free public college follows the same idea as free public elementary school, middle school and high school. That we don't offer free college in every state is a blight on our society. We, as a nation, have a vested interest in an educated, skillful workforce.
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Post by A on Mar 6, 2021 16:52:44 GMT
As for others who graduated with a ton of debt....I say they have to pay it back. I say that because of all the people who bought a home or even a car and then the pandemic hits and they lose their job(s). Real tough to feed the kids or pay the bills for some. Are they (home owners) going to get a handout to cancel some of their debt? This is a terrible reason not to cancel student debt. Your argument boils down to: "It sucks that I had to be saddled with debt; I want that for others." I don't have student debt. My wife accumulated $17k over one year, before she transferred to a City University where she didn't need to take a loan to cover. 25 years later, the debt is finally almost paid off. Student debt, in a society that erects professional roadblocks for people without college degrees, is highly immoral and a major drain on the economy. The average State University tuition is $10,000 per year. This is an unnecessary burden on our young working population. Cancel student debt. Boost the economy. I don't care that it could potentially help Harvard grads - the net benefit of helping Michigan State grads and SUNY Buffalo grads and Oklahoma State grads is much much greater than preventing the odd Ivy League grad from getting assistance they don't really need. Most of those Ivy Leaguers have their tuition paid by their parents anyway. Cancel all student debt. His argument didn't "boil down" to that, because that wasn't the only thing he said... |
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