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That is obvious to the entire rest of the world. Only in America was this met with an insane combination of denial and appeasement. Do you remember when literally everyone with power believed the fanatical religious nutcase when she said she wouldn’t put her God before the nation? When they said it’s no big deal that man is an alleged multiple times over sexual predator? They believed it, the credulous, gullible idiots. by AnonymousĪs the president weighs broad student loan forgiveness, some Americans expressing frustration over a policy they see as unfair. "While some may view this debt forgiveness as a slap in the face to people who were responsible and paid off their student loans, this is a bigger slap in the face to those Americans who never went to college," Will Bach, a financial advisor based in Ohio, told Yahoo Finance.
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Research has shown that a college degree generally boosts an individual's earnings over their lifetime. And given that any broad-based forgiveness would cost tens of billions of dollars, all taxpayers - not just by those who have a college degree - would be contributing to the cost of cancellation. "How can we honestly ask people who did not go to college to subsidize the lives of those who did decide to go to college?" Bach added. Some right-leaning academics, including Andrew Gillen of the Texas Public Policy Foundation, argue that there are a variety of problems with cancelling student loan debt.Įvery instance of a student loan was a voluntary choice that person made." "To my knowledge, everyone with student loans voluntarily took them. These include the overall cost and the fact that forgiveness does not directly address the core issue of rising college costs.Ĭancelling $10,000 or $50,000 across the board is "really badly targeted," Gillen said in an interview with Yahoo Finance.