Too many people in this student loan debate are focused on the wrong things:
Whether or not this debt forgiveness plan was justified and fair
But truth is that even if they’d passed the forgiveness plan,
IT WOULDN’T HAVE FIXED ANYTHING!
College would still be too expensive.
The longer term solution to this problem isn’t cancelling existing debt,
It’s to get the government completely out education and student loans to begin with.
If student loans weren’t federally backed, colleges would be forced to lower tuition rates so people could afford to go.
All anyone is debating right now on student loans is whether or not existing debts should have been forgiven.
Meanwhile every new high school graduate is still able to take out $50-$80k in student loans no problem.
Debt forgiveness isn’t an actual solution to the problem.
There’s only one reason that colleges have gotten away with their unsustainable tuition price increases…
Because student loans are backed and approved by the US government!
Colleges know that the student loans will be granted by the federal government despite the price hikes.
Simply put, college is getting way too expensive which adds to the growing student loan debt crisis.
This chart shows how the cost of college has increased much faster than average inflation.
The bigger issue here that everyone seems to be ignoring is the ridiculous rate at which colleges are increasing their tuition costs.
Colleges have gotten greedy and the average cost of obtaining a degree has vastly outpaced the average salary of a degree holder.
Today this student loan forgiveness plan was struck down by the Supreme Court.
It’s a heartbreaking verdict for the millions of people who had already applied in hopes of having their debts forgiven.
Many are outraged at the decision.
But perhaps their anger is misplaced…
Last year, the Biden administration introduced a plan that would cancel more than $400 Billion of federal student loan balances.
It would have completely erased the debts of 20 million people while lowering the median amount owed by the other 23 million from $29,400 to $13,600.
Dude in the back should’ve slide the kid while he was clocking back the gun. Lmfao. Kid obviously don’t know how to handle a gun judging from the way he clocked it back Lmfao.