Why forgiving school loans may be a bad idea for the government.

in LeoFinance23 days ago

Well first off lets say that they do decide to take away everyone's school debt. What does that mean for people already paying for school? Does this mean other students will basically get a free ride through college. Well it looks like so far president biden is setting on forgiving 10,000$ worth of loans for each person but the decision still has to be made. But many are going through the economic crisis and need help. What do you think we should do?

  1. Lets start a debate in the comments and share your view on this issue.
  2. How will this affect people who already suffered through these times?
  3. Have you had any experiences you would like to share.

36,000,0000 x 10,000 = 360,000,000,000$ The amount of money they will spend if it goes through. I also personally think that this won't do anything because if they do this now then in the future if another crisis happens which it will happen again and people will probably protest for them to do it again just to get there mistakes covered. Many great successful people have started companies from nothing and they didn't need college degrees. You can also think about if they made all education free and what that would do for us. The teachers already get paid by the government and our taxes go towards the schools. We basically pay them money just to learn something for a semester and a book that cost 100$ but in reality you might not read it for the whole term. I have books that I haven't used once and the teachers say it's required.

Alright enough of that and enjoy your day. I also got my first covid shot today so I'm happy just a quick pain in the arm and that was it.

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As much as I hate big business schools whose mandate is to make money first and educate somewhere after that, I also have an appreciation for people having skin in the game.

If college and university were just free (or loans spent partially on stereos and booze) then most would feel entitled to that and not even strive to improve themselves and achieve.

Great news on the covid shot and fantastic conversation started here.

Thanks for stopping by and sharing your thoughts

Why even bothering to indebt yourself for a degree when you could make more with open source information and the internet is beyond me. <_<

In the past, debt forgiveness has been treated as income for the borrower. If there is student loan forgiveness, we can expect to be taxed on $10k more personal income that the colleges kept in their pockets.

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Yay! 🤗
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