It's even more screwed up than that. They structured student loans as non-dischargeable debt, while also mixing in a mixture of grants, affirmative action, parental income ceilings, and other crap. Then you have the people who lived off of Ramen soup, worked their way through undergraduate and grad school, put off their lives for education, etc. who are going to be legitimately pissed because the message this kind of policy sends the subsequent generations is to spend like drunken sailors and vote money at the next election to the detriment of everybody else. That money comes from somewhere either as higher taxes or inflation when the government prints a bunch of money.

Then you have the people who already paid off their loans who are left out in the cold. Then you have the people who spent like drunken sailors anyway and are now complaining that they have to pay off the debt that they accumulated while bar hopping, taking vacations in Cancun, and narrowly getting a degree in Gender Studies or something equally economically useless.

This goes on and on, which is why it's such a phenomenally bad idea all around. The student loan system released the colleges to raise tuition rates while providing less value, while at the same time disincentivizing the students from using it for something productive. That's why you have secretarial positions that require a four year college degree for no good reason. They don't care what the degree is in, just that you have one. Now to buy votes the government is taxing everybody else (including those who were frugal, paid off their loans, or didn't go to college at all) to give a handout to some target demographic.

I got a useful degree that involved undergraduate, graduate, professional school, and post-graduate training. I worked my way through college, lived at home with the parents to save money, didn't travel, didn't vacation, and so on to keep the total loan down, then I paid it off. Now here come these entitled bozos who did the exact opposite, and the Biden administration gives them five figures. Where's my $35,000 handout?

> This loan shark business is a tax on the working class to aid the upper classes. Robbin Hood in reverse.

It's way more than just that. They want to destroy the Middle Class for everyone, leaving an uncrossable no-mans-land between the Working Class and them, and they especially want to keep non-white people -- in addition to women -- from getting ahead, acquiring wealth in any form (which very much includes owning property), and very much discouraging non-white people from having families. They couldn't care less if they're told that might mean America falls behind the rest of the world as an innovator, so lon

The US structured those student loan programs really stupidly. Technically, the student borrowed money from uncle sam, and then spent it on (sometimes fraudulent) goods. The borrowing and spending are two totally separate things. If I use my credit card to make a stupid purchase, I still owe the $$$.

Fair enough. Except those student loans are un-dischargeable. If you lose your job, career, family, house and you’re living in a cardboard box, and declare bankruptcy, those student loans stick to you

That’s easy. The shady college can still afford more lawyers than you.

The problem with your statement though is the word "fraud". Fraud is specifically wrongful or criminal deception for financial gain. It requires an entity or person to knowingly commit fraud.

What fraud did colleges commit? They offered the programs they chose and people willingly took them. Does any college promise a high paying job upon graduation? Of course not, they cannot make that promise. No, unfortunately the fraud is our culture that pushed kids into college. It was our teachers, our pare

Everyone was lying about the value of a college education, the government, the universities and the voters. The students also should have know it was a lie. However the big difference here is that the students agreed to pay for the lie. Voters have nearly zero integrity, are selfish and will vote for whoever gives them the biggest short term entitlements. We have created a system that rewards those who tell the biggest lies. Everyone here is a little guilty but the students are the ones that signed to

This corrupt SCOTUS can decide case by case whatever BS they like just like they did when they ruled the constitution was unconstitutional with some legal BS word games the idiot reporters can't grasp, even with professors as guests.

They will if they want find some exception; like in 2000 when they appointed Bush and then said their ruling was a once off non precedent setting ruling.

> vote for those who give you money

Elon Musk makes $100 offer to Pennsylvania voters to pledge to vote for Trump.

These loans created money by fractional reserve though; they weren't loans of "actual" money, and discharging them simply undoes the money creation.

This type of loan discharge does not actually "cost" much in terms of the way people generally consider cost, and the benefit to society is arguably better than the cost it did incur.

Now, as for the harder to predict cost about, does this really incentivize people to just take out loans and hope they are forgiven, and the cost that incurs on society; I cannot sa

How about all the politicians who were forgiven in their six and seven figure PPP loans? [1]https://www.nbcnews.com/news/a... [nbcnews.com]

[1] https://www.nbcnews.com/news/amp/rcna44904

The government gravy train for all the grifters is coming to an end.

What are you talking about? The biggest grifter of all time is trying to get back in so he can grift off the taxpayers [1]even more [citizensforethics.org] than he did the [2]last time [yahoo.com].

[1] https://www.citizensforethics.org/reports-investigations/crew-reports/president-trump-legacy-corruption-3700-conflicts-interest/

[2] https://www.yahoo.com/news/trump-overcharged-secret-agents-staying-184603608.html