You people are delusional! Yes please Funny The More People I Meet The More I Love Cats Shirt get rid of debt and then tank the economy while you’re at it. Do you know how bad taxes would get? For a party of facts and science, you sure as heck have no idea about how economics works. I’m not paying $50 for a Big Mac so that some hippie can’t get a free college degree studying finger painting. Any effect on the economy would be temporary. People would consume more, as their disposable income increased with the absence of monthly payments. However, over time having a college degree would become the standard. IMO, most bachelor degrees do little to add human capital.
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I’m curious what OP thinks would happen to the people who rely on you paying back YOUR debt, should we no longer owe them back their money. You took a loan out to go to a school you couldn’t afford and now you’re complaining that you have to pay back the people who paid for your schooling? You’re garbage. While your “drop interest to 1%” is a Funny The More People I Meet The More I Love Cats Shirts sensible solution I support, I disagree with the last sentence. The fact that a government-backed student loan has absurd interest rates (I pay 8%+ after consolidation) is the government’s fault and the reason so many people have/are failing under the weight of crushing debt.
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