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There are 4 comments on Will President Biden Forgive Student Loans?

  1. Even if debt were cancelled at a high enough limit to clear all current debtors, there would still be a new batch of debtors as high school graduates take out loans to go to college the next year. The problem does not go away, much like covid. Also, those students and/or parents that worked hard to pay off their debt might well be sorry that they did so.

  2. While entertaining, this misses one very large point. Federal student loan payments have been on pause since March 2020. For almost two years virtually every student loan borrower has made no payments, and accrued no interest. Most have already adjusted their spending habits. As such, there would be limited if any positive to the economy if these loans were forgiven.

    There are some other questions which should be asked and answered if in fact there is forgiveness. First, what if you paid your loans off in February of 2020, do you get any refund? How far back to we look for refunds? Second, if we forgive the loans as of today, what happens to those students who need to and then actually do take out new loans tomorrow? Will they ever repay knowing if they hold out and throw a fit someone will pay for them. Finally, why should a person who chose not to go to college pay for someone who did go? This is an even more interesting question if the people who we are forgiving are low balance borrowers that dropped out of college because they partied to much. I guess we want hard working refuse workers, store clerks, and others to pay for a year of partying.

    It was called a loan for a reason, because it needed to be paid back. Instead of focusing on the symptom (student loans), focus on the problem. High priced colleges growing and many times inflation, and poor decisions by students to go to schools they could not ever really afford.

  3. I paid off my student loans in about 20 years. It can be done and is possible. For the liberals that cry about their student loan debt being too great or not being payable, get real. You chose to take out the loans, now pay them back. As a tax payer, I don’t need to pay for other people’s student loans. Sometimes you have to sacrifice your iPhones and Lattes to save enough money per month to pay off the loans. Do it!

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