I hate to see people Good Mama Claus Christmas Shirt that graduated in 2008, 2009. And 2010 swimming in debt in the worst job market since the Great Depression. Because we really got screwed but I also think the school would have been a lot easier if I had those extra 27 hours a week. There needs to be reformed… some version of forgiveness for certain situations. Also, the fact that student loan debt gets passed to the family if you die is a tragedy and needs to change. That being said let’s just forgive all student loan debt is not an actual solution. The debt doesn’t magically go away it just gets passed on to taxpayers.
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How about we have the government stop the loans that way universities don’t feel emboldened to raise tuition costs at a rate much higher than inflation. Because they know the kids will get fully guaranteed loans to pay for them. Any effect on the economy would be temporary. People would consume more, as their disposable Good Mama Claus Christmas Shirts 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. All the college graduates who actually believe that this is how an executive order works need to ask for a damn refund from those colleges to pay that debt because they clearly didn’t get what they paid for.
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