Student Loans shouldn't be forgiven. We should focus on cost.

[MoneyTron]

In this analysis, we show:

• Student debt cancellation will increase cash flow by only $90 billion per year, at a cost of $1.5 trillion.
• Student debt cancellation is poorly targeted to those most likely to spend, given that nearly three-quarters of repayments would come from the top 40 percent of earners.
• Forgiving the full $1.5 trillion in loans will likely boost economic output during the current downturn by between $115 and $360 billion, a multiplier of 0.08x to 0.23x.
• Partial loan forgiveness would cost less than total but also offer a smaller economic boost. We don’t expect a significant improvement in the multiplier.
• Simply extending the current executive action to defer loan repayments and cancel interest would achieve much of the economic benefit of loan cancellation at only a very small fraction of the cost.

There are a number of benefits and costs associated with cancelling student debt. But as a stimulus measure, its "bang for buck" is far lower than many alternatives under consideration or the COVID relief already enacted.

Canceling Student Loan Debt Is Poor Economic Stimulus





shyt might be a waste of money. Just give us the cash. We'll do with it what we please.

Quote every right wing thinktank on Earth brehs.

 

[OfTheCross]

Quote every right wing thinktank on Earth brehs.

shoot the messenger, brehs

 

[Serious]

shoot the messenger, brehs

I sure will for posting right propaganda.

 

[MIKE SPLEAN]

Why can't we do both?​

BOFFUM

 

[mr. smoke weed]

I mean reeeeeeeeeeeeealy, who gives a fukk?

I pay taxes literally everyday that go to things i fukking HATE. I didn't go to college, or take out student loans, but I know at least 50 people (probably more than that) that would massively benefit from it. So I'm all for it.

 

[mr. smoke weed]

Yes and no. Medical debt goes away after a while. The Student Loans are there forever, I thought.

Medical debt doesn't ever go away. If you decide to avoid paying it, it cripples your credit.

 

[OfTheCross]

I sure will for posting right propaganda.

I ain't post no lies. It's just a different opinion.

foh

 

[OfTheCross]

Medical debt doesn't ever go away. If you decide to avoid paying it, it cripples your credit.

yea and no again.

If it goes to collections that shyt is whatever.

if you stop paying it it's going to impact you for a few years but your credit can recover.

Student loans always report you as late so your shyt won't ever recover

 

[hashmander]

y'all gone learn why we can't have stuff.

 

[OfTheCross]

I was just talking about this with a co-worker before we left for the day...

the biggest benefit (and only one they mentioned) was that it was going to stimulate the economy.

Well, we get more bang for our buck as a nation by using the $1.5T in a different type of direct stimulus.

 

[High quality poster]

I was just talking about this with a co-worker before we left for the day...

the biggest benefit (and only one they mentioned) was that it was going to stimulate the economy.

Well, we get more bang for our buck as a nation by using the $1.5T in a different type of direct stimulus.

You got student loans?

 

[OfTheCross]

You got student loans?

No. But I'm also not against people w/ student loans getting money.

 

[GodinDaFlesh]

I was just talking about this with a co-worker before we left for the day...

the biggest benefit (and only one they mentioned) was that it was going to stimulate the economy.

Well, we get more bang for our buck as a nation by using the $1.5T in a different type of direct stimulus.

The GOP Senate is not signing off to another stimulus under Biden, which is why student loan forgiveness via executive action has been picking up steam lately.

 

[Mr Rager]

It's $10K not $50K.

As far as fairness goes, I don't see where that weighs into this equation. High earners and companies getting repeated tax cuts over the past 40 years could also be considered unfair. Still gets done.

This might benefit the economy just as much as any of those initiatives IMO.

the biden 10k should definitely happen. the schumer 50k seems like a long shot, but fukk schumer for talking about bidens executive order power like its his anyway. schumer didnt win the election

and as to the bolded, you will when they start seriously talking about it dont underestimate the resentment the republicans are gonna stir up over this

You're both right. And that's the problem.

 

[Unemployed GM]

Student Loan Forgiveness Is a Regressive Policy That Hurts Americans

Moreover, as Cooper explains, 210 million adult Americans do not have federal student loan debt, compared to the 45 million who do. Student loan forgiveness demands that those 210 million Americans take on the debt of those 45 million borrowers.

For those individuals who avoided debt—either by working their way through college, going to community college for two years before attending a four-year college to reduce costs, living at home, serving in the armed forces to later benefit from the GI Bill, working hard in high school to receive merit-based aid, or by eschewing college altogether—blanket student loan forgiveness is simply unfair.

They better forgive them

How I look paying those things back.