- I’m opposed to the idea of an across-the-board cancellation of all existing student loan debt.
- Student loan debt should be dischargeable in bankruptcy proceedings.
- Enforcement of debt obligations is a pragmatic thing. It would not be unjust if debt obligations could not be enforced as this would make a society freer.
- Critics of the student debt jubilee proposal are saying that that such a thing constitutes an “government intervention”. This is strange language. The law currently guarantees that student loan debt can be collected by parties to whom that debt is owed. This requires that, when the lender sues in court (the government) to collect the debt they are owed, the government coerces the person to pay back the lender. So, a student debt jubilee would actually constitute a removal of government intervention.
- Some of its critics will say that this would shield the people who take on this debt from the “consequences of their actions”, but that’s empty verbiage. It is humans who determine the legal consequences of a choice, so it’s nonsensical to speak as if we are interfering with the effects of some non-human force (i.e.,“the consequences”).
I agree with you fully. It should simply be dischargeble in bankruptcy.
Also figure out a way to get the government of securing student loans. It will be scary. People won’t qualify but college cost may (kind of a big May) drop and then let’s see what happens next.
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I think federal student loans should continue.
As long as they do, colleges will pump up their cost because the government will just qualify the kids. It’s a tough decision i agree
I also don’t have a solution
Pass an act of Congress that creates a program similar to HARP that allows everyone the ability to refinance their existing student loan to the current prime rate and lock them in at that rate for the life of the loan. Any loans that have a balance due greater than the original loan amount will be reset to that original. Reset all loans that are currently past due as current and retroactively set all previous months to current as well that were marked as past due for all 3 bureaus.
This will ensure that they won’t get a free ride, but give them the ability to get ahead of the loan and a path to pay it off with their credit in tact. Lenders will still be able to turn a profit. Win/Win.
You are interfering in the rights of the lender.
I can agree to that and will go one better. All education loans capped at 2%. All trade school loans capped at 1%. You will pay it.
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I dont like the idea of straight up cancellation. Something like subsidizing interest would be more reasonable
Those pushing student debt cancellation are out to buy votes! Sick
The lender was an idiot to lend money to people with no income or wealth to secure the loan.
Yes I think bankruptcy is the correct path for the student loan debtors.
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Yeah no one buys votes with their policy positions.
The government should provide federally funder daycare before cancelling any student loans. That would be helpful for parents struggling to pay back student loans on top of supporting their families.
Then what’s with all the free stuff?
I was being sarcastic. All election promises are to buy votes. That’s how elections work.
That’s why trump said he would cut taxes and the debt at the same time and said he would be replacing Obamacare with a cheaper and better system that covers everything.
Ok, doesn’t change the fact a debt is owed.
Why do they have families if they can’t afford their debt?
cutting taxes is not free stuff like what the Democrats are doing.
Isn’t that one of the things being disputed?
Is that an objective moral truth?
