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jrolumi t1_j9kmy1a wrote

Reply to comment by What_Yr_Is_IT in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

Sounds like we should fix the actual problem then instead of forgiving debt to push the can further down the road lol.

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What_Yr_Is_IT t1_j9kofv3 wrote

"push the can down the road"

that makes no sense, how is this pushing the can down the road?

So today, you can claim bankruptcy on credit cards, million dollar mortgages and businesses, personal loans, business loans, vehicles, etc etc, but NOT student loans. Also, the same people who are hating on student debt forgiveness are the same people who have filed bankruptcy at some point in their life or had COVID loan forgiven.

You want to fix the problem?

  1. Allow bankruptcy and flush the system out of people who cannot pay
  2. Have a free public state education option to give colleges real competition so prices would naturally fall back to earth.
  3. Have more grants for free education for trade labor to further pull demand away from colleges
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jrolumi t1_j9kuuna wrote

I agree with your points. Community college should be free & federal loans no interest. What does forgiving 10-20k do right now? Nothing. Those with massive debt still have massive debt.

The next generation in 10-15 years is going to be wondering where their forgiveness is & it will continue on & on. They need to get to the root of the problem, not just forgive debt.

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What_Yr_Is_IT t1_j9lzj9w wrote

The next 10-15 years of students are coming Into the college conversation much later than the students of 10-15 years ago. Back then, we were told we needed it. Students today and the future students of tomorrow have much more history to look back on to make an “educated” decision on whether it’s a good idea to go or not.

$10k could halve some borrowers debt, at the bare minimum it would lower payments.

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jrolumi t1_j9m02oz wrote

Got to be honest that’s not a good argument. People bought houses in 2008 because it’s “the American dream”. Then the market crashed & people lost everything. There’s risk in these things. Totally agree that there needed/needs to be way better education in what you’re getting yourself into with college debt & such.

The system is very broken. But why not solve the broken issues now? Even you’re saying let’s just throw money at it now & figure out the rest later. The issue is still going to persist

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What_Yr_Is_IT t1_j9m3qkv wrote

You can claim bankruptcy on a home and walk away. You can’t do that with student loans.

That same scenario, as of today, those same people are in a new home and a clean credit report

A student is fucked forever.

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jrolumi t1_j9m592u wrote

Touché. To play devils advocate, my argument would be do they take away your diploma if you file bankruptcy? Lol idk. Was good discussion

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