Canceling Student Loan Debt Isn’t Smart or Fair Response to COVID-19
The Senate is considering a coronavirus fiscal stimulus package aimed at minimizing the adverse economic impact resulting from the pandemic. Canceling student loan debt is an inappropriate response to coronavirus-related economic issues.
Still haven’t subscribed to The Heritage Foundation on YouTube? Click here ► https://bit.ly/2otKliy
Follow The Heritage Foundation on Facebook: https://www.facebook.com/heritagefoundation/
Follow The Heritage Foundation on Twitter: https://twitter.com/Heritage
Follow The Heritage Foundation on Instagram: https://www.instagram.com/heritagefoundation/?hl=en
Illustration: The Heritage Foundation/Getty Images
source
Click to rate this post!
[Total: 0 Average: 0]
I say do it. We pay Interest on the debt already for things that are not in our personal interests. Why should we not support something that would benefit us financially? The high interest rates are fucking us. I have already payed half of what I borrowed and the number is unchanged because of the interest rate.
Please don't go to college if you can't afford it. Unless the profession you major in is a necessity in society.
So instead let's bail out airline, and automotive industries every time economy plummets because they are unable to run their businesses appropriately… and the government should pay cruise lines as well while we are at it. Here is an idea if you really want to stimulate the economy, instead of having hundreds of thousands kids struggling in order to try pay to the big banks, which we also bailed out back in 2008, forgive their loans so they can spend money buying homes, start families and have normal lives. BTW this is coming from a guy who already paid his college off.
I already paid back my 30k rather then buyibg a home. Give me 30k for a downpayment, save the banks
Someone's student loan isn't my problem, they shouldn't have gotten a lone they knew they couldn't pay back . now they are going to have to work two jobs or default on the loans.
Heritage Foundation supports predatory lending practices, nice one guys 👍🏻
WEALTHY CONSERVATIVE PROPAGANDA! 1.7 trillion would free up a lot of cash flow for the middle class to spend and boost the economy by getting rid of student debt. Even a 50% reduction would have a tremendous effect on increasing the disposable income of average Americans. This could also lower the threshold for the 1,200 check for those close to the bottom and perhaps the amount could be increased if the threshold started at 55-65,000 dollars. So it makes sense to burden tax payers with 1.5 TRILLION TARP 1 and TARP 2, the 'embezzlement' of SSI funds by the government to the tune of approximately 3 TRILLION dollars since Reagan- not including any interest over those 40 years which could easily be worth 6-8 TRILLION OWED. And now another X TRILLION FOR CORPORATE WEALTHY. But some how 1.7 trillion to pay off student debt would be an impossibility. It wouldn't happen to be because there is too much profit in it for the wealthy… would it?
Enemey of the people ,period.
corrupt idea. i am a tax payer to eventho i didnt expect then to erase 100% of the loan but they should 25 or 50% & get rid off 5-10% intrest rate which is robbing our money on day light is disgusting!!!
NOT ANY WORSE THAN 6.3 TRILLION FOR BIG BUSINESS BALE OUT
Wow The Heritage Foundation… see where your biases lies.
Freedom Debt Relief LLC will forever be in my heart , the best credit repair and debt financing company/ team in my opinion, they paid my credit card debts on agreement, this was the best thing I ever did in my life and my credit scores are now excellent up to 825.. for Funding 👉 email one of their highly trained expert via (andrewsmithfinance at g – mail . com ), Don't let debt ruin you life, get free help via a quick consultation now..
We are giving a lot of money away to other countries; and we are even spending money protecting wealthy countries. Forgiving student loan will add to the national debt?
right! Give me a break.
What organization, lobbying group, or political party pays your bills, The Heritage Foundation?
…But trillions of dollars of printed money by the Federal Reserve for corporations is ok? Funny logic you have
What about canceling the debt the us owes China?
Wait..what?? Hey stop with the ignorance and voting against your own interests too btw. What in hell could be more imbecile indicative than having no problem supporting legislation for automatic and continual without disclosure corporate bailouts who pay CEOs 80 million annually, pay employees at least 400 times less and these CEO's who btw resigned in groves and dumped stocks as soon as they got the early private insider priviledged memo several months back? Furthermore and that said, any who don't support relief from exploitative lifelong student debt slavery locked in for life needs a swift hard kick in their unjust ass.
Please!!!!!! Once my student loans are paid, I'll be debt FREE
Nonesense students loans are worse thing forced upon young people of this country. They need to cancelled and then abolished!
Of course it's fair…..!!!! Who ever says it isn't fair is simply because they're not stuck with one of those loans for the rest of there life if they're working in a job that pays an average hourly rate. So please be quiet
Yep. Those 17 years old fuckin deserve to make obscene monthly payments for thirty years and never see their balance reduced. They want to buy a house? Pfft. Too bad whiner.
Also, why are Millennials and Gen Z not buying houses?
How do we apply for that 30k forgiveness.
What about the banks and airlines that are constantly being bailed out. Is it so bad to forgive people debts. If those individuals aren't worried about debt that might lead to new ideas and new businesss.
https://www.change.org/p/president-trump-cancel-student-loans-now?utm_source=grow_us&utm_campaign=pss
What if the students who can't go to school volunteer to work at the hospitals and in return forgive a portion of their debt. They will have earned forgiveness of loans.
I might consider it a good thing if the universities paid the debts to their own students with their fat endowments (and the generous leftist professors could contribute 50% of their income and usher in their personal utopia) but not the government.
Where was these same sentiments when government bails out these corporations? It’s seems financial forgiveness is no issue then, but when it pertains to the “people”, everyone wants to act like the damn sky is falling!!
This just goes to show where your loyalties lie.
I absolutely agree.
This will never happen, that's why they proposed it to fool you into voting democrat and you fall for it. Do you think if the democrats get into office they will cancel your debt? No. They have been in office many times and never gave a dime. Don't be fools, if liberals were smart, they would be conservative. They should only forgive loans to those that have taken a trade.
Is anyone aware that the reason the student loans have become a burden (besides no jobs to support payments) is a steady 8.7% interest rate? WHEN was the last time the Elites paid 8.7% on a pricey education? It's a lose-lose for an economy that's beyond decline; too little, too late!
And how am I supposed to pay back the interest I owe the billionaires and corporations with the market like it is?
Shame on you. We students are simply trying to advance our society and you're trying to keep us ditch diggers.
Saul Alinsky would be proud of this modern crop of Democrats.
Nothing done about this is smart. Covert operation. None of it makes sense. Ukrainian Taxpayer Dollar launderers heading it up- Fauci & Birx- Pence also has ties to these criminals. The whole damned world has lost their minds