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WDMSO, is it just me who says it's stupid?
Please tell me what I see here, that's wrong...
This forgiveness punishes people who either paid their loans off already, or chose not to take out loans. It rewards those who chose to take out the loans, who now won't have to fulfill that obligation.
It generally will transfer money from poorer Americans (those who didn't go to college) to wealthier Americans (family income cap of $250k and that's taxable income, so after deductions).
It does nothing to get at the actual root of the problem (college cists) and probably makes it worse, as it gives colleges an unimaginable incentive to increase tuition again, since the feds are picking up part of the tab.
Stupid. And a lot of people agree with me.
But it puts money in your pocket, so we shouldn't complain.
Finally, this robs borrowers of the sense of accomplishment one derives from being self sufficient. We are further crippling these kids.
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