We Must Cancel Everyone’s Student Debt, for the Economy’s Sake
- Thread starter FAH1223
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That's why I dont mind some of these bankers, college administrators, and financial crooks to get kidnapped, beaten, and executed in public for destroying wealth. Schools overcharge cause they demand is high. That is an act of treason.
People can't discharge student loan debt so it will just affect other industries on the back end
Because when most rational people are indebted, they don't make any other large purchases
So it doesn't take a rocket scientist to know that several industries are going to be fukked in the long term, mainly houses
I agree
Sure its a bit hateful but what the fukk. All these people signed up for loans knowing they had to be repaid. Unless I'm getting my tuition money back, fukk these irresponsible kids.
This is the real solution. Telling kids "hey if it gets really bad we're gonna bail you out so dont worry about your debts or obligations that you voluntarily signed up for" is a bad look. Instead, finding ways to lower the costs associated with higher education is the real answer.
This is going to cause a major recession in the coming decades. It will be especially noticeable when baby boomers retire/die off and the economy starts depending on Gen X'ers and Millennials...most of those jobs getting shipped overseas and automated.
Don't be so myopic.
Explain for us real quick how an economy is going to thrive when 50% of the adult working force has five figures in debt and is chronically underemployed and underpaid. Yall nikkas need to learn to think about things on a macro level when you make arguments. We're all interconnected. I didn't buy a house in the 2000s. I wasn't overleveraged buying multiple properties but, my shyt was ALL fukkED UP anyway because the people who were tanked the whole economy. With all the advancements they're predicting for AI over the next 10-12 years, I'm very concerned for the economy. These dudes are drastically indebted and coming up in an era where 35% to 50% of jobs will be automated in the next 10 years
hu3ypdadon
All Star
If this bill was to pass why shouldn't college be free for every one going forward? Would not the same thing happen with the next generation? Your logic sounds "personal"..I say fuk everybody who bytching about being in debt from going to schools they choose to attend knowing they couldn't afford it. Its not like these schools hide the cost of attendance. If You didn't think you be able to pay off your school debt you should of choose a more affordable school in your budget. Nobody forced ppl to attend these expensive schools. Should we forgive the debt of ppl who cant afford to pay off their car notes too? Or their mortgages too? You got 8k to put towards your first house that's a big difference then the government giving some-1 a Free House. You still had/have to pay off your house..Your argument sounds selfish
New Jeruzalem Journalist
Superstar
See, I'm torn on the issue, but if I'm being logical and want what's best for the greater good, then I say loans should be forgiven.
I busted my ass, worked for years 2 and 3 jobs at a time, sacrificed, scraped, scrounged, and eventually switched careers all in an effort to pay off all my debts, which I finally did 4 years ago. So the idea of others getting a free pass is a kick in the nuts to me. But logically speaking, it's the right thing to do for a variety of reasons.
It's no different than a debate my brother had with me about the "fairness" of programs that pay criminals not to commit crimes. Seems "unfair" to law abiding citizens, but the results in lower crime and safer communities speak for themselves. He eventually won me over (I was initially against paying thieves and killers not to rob and kill).
I busted my ass, worked for years 2 and 3 jobs at a time, sacrificed, scraped, scrounged, and eventually switched careers all in an effort to pay off all my debts, which I finally did 4 years ago. So the idea of others getting a free pass is a kick in the nuts to me. But logically speaking, it's the right thing to do for a variety of reasons.
It's no different than a debate my brother had with me about the "fairness" of programs that pay criminals not to commit crimes. Seems "unfair" to law abiding citizens, but the results in lower crime and safer communities speak for themselves. He eventually won me over (I was initially against paying thieves and killers not to rob and kill).
And it would set a precedent for people who didn't go to college to claim they didn't go because they didn't want to accrue so much debt so they deserve a one time lump sum payment equivalent to the average person's student loan debt. This will never happen. I could see a Universal Basic Income happening before this.
Poh SIti Dawn
Staying Positive, Getting Better Everyday. Holler!
If they cancel the debt ppl will stop working. And think schooling is enough to do.
You do realize that people would still need to feed, clothe and shelter themselves, right?
Poh SIti Dawn
Staying Positive, Getting Better Everyday. Holler!
Student loans. You wildin b
AndroidHero
Superstar
I agree
Sure its a bit hateful but what the fukk. All these people signed up for loans knowing they had to be repaid. Unless I'm getting my tuition money back, fukk these irresponsible kids.
This is the real solution. Telling kids "hey if it gets really bad we're gonna bail you out so dont worry about your debts or obligations that you voluntarily signed up for" is a bad look. Instead, finding ways to lower the costs associated with higher education is the real answer.
If the government can bail out those companies that caused the economic crash of 2008, surely they can do the same for students.
Forgiveness is for the weak. 
Some U.S. borrowers jailed over civil debts, ACLU report shows
Debt Collection Companies Have Hijacked the Justice System
"Arrest warrants were issued in cases involving every kind of consumer debt or loan, including debts as small as $28. People have been arrested for debts arising from medical fees, federal and private student loans, car payments, unpaid rent, daycare fees, small-business loans, credit card bills, foreclosure deficiencies, high-interest payday loans, and gym fees, to name just a few types."
Some U.S. borrowers jailed over civil debts, ACLU report shows
Debt Collection Companies Have Hijacked the Justice System
"Arrest warrants were issued in cases involving every kind of consumer debt or loan, including debts as small as $28. People have been arrested for debts arising from medical fees, federal and private student loans, car payments, unpaid rent, daycare fees, small-business loans, credit card bills, foreclosure deficiencies, high-interest payday loans, and gym fees, to name just a few types."
Basic income needs to happen, as well as student debt forgiveness. These banks and schools got too much power.
Anyone saying different, ain't believe in humanity and deserves to be neutered like dogs.
Anyone saying different, ain't believe in humanity and deserves to be neutered like dogs.
Once a person has paid the total amount of a loan +15%...The debt should be forgiven....Example:I owe 90k...but the actual loan was 50k.Once I pay a total of $57,500...the debt should be forgiven.....Also,loan payments should be suspended when you are unemployed.