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As Biden administration leans toward $10,000 in student loan forgiveness, advocates push back
Advocates expressed anger and disappointment on Friday in response to news that the Biden administration is leaning toward $10,000 in student loan relief.www.cnbc.com
I am curious as to where most of left of center and far-left of center SDN members feel about this topic. Many of you would not receive any forgiveness while residents and students may get $10K.
Of course, I am right of center and think this is a bad idea period. Even though I would benefit from this forgiveness I oppose it on principle.
On the surface I have to say it’s a bad idea. I buckled down and paid my loans off in the first few years post-residency. But, comparatively speaking, I have a much larger hammer than the extreme large majority of college grads with loans.
The reality is they’re in so much debt because of collusion between universities and the loan industry. As others have said it’s ridiculous that student loan rates were hovering around 7% when others were far far below it. I don’t think student loans should have interest. I don’t think there should be a student loan ‘industry’. And if universities can’t control their own cost then someone should control costs for them or better yet, students need to enter the trades and stop going to college. It’s not worth it for many.
At this point I’d much prefer a Bernie as President. We all tend to focus on tax benefits thrown to individuals. Do I think 10k matters to most? Probably not - but I know it matters to some. A helluva lot of rich people (some here included) made out like bandits from government handouts during COVID. I wish no one received any of it - no COVID handouts and no student loan handouts. Comparatively speaking though, I don’t think I can get worked up about this UNLESS we start putting the clamps down on other handouts.