This is transferring debt people willingly took on to get a college degree, to people who did not go to college.
Look, I am not trying to be rude and I am trying to be gentle when I ask this: Where do you think the 'assistance' the government is going to provide comes from?
https://www.cnbc.com/2021/08/18/61percent-of-americans-paid-...
> Look, I am not trying to be rude and I am trying to be gentle when I ask this: Where do you think the 'assistance' the government is going to provide comes from?
The wealthy and high earners? I pay substantial federal income tax, and I’m not too bent out of shape about this. I’m more concerned about waste going forward, not financial relief for my fellow citizen. The need for this debt would’ve never existed if state and federal funding for higher education had not slowly been withdrawn leaving students primarily to shoulder the cost burden (although I’m mindful of unchecked college spending and the need for cost controls due to the inelastic demand).
https://www.usnews.com/education/best-colleges/paying-for-co...
It's also naive to think that relieving debt from the middle class won't benefit the economy in some way. America's middle class goes to college. It's hard to argue that consumers having more money to spend won't drive economic growth.
Like college debt, it was taken on willingly and its hard to argue that consumers having more money to spend won't drive economic growth.
Student loan debt is taken on by literal children with no credit with the promise of a good job and cannot be escaped under really any circumstances. Saying "well you just shouldn't have gone to college" is blaming kids for decisions their parents ultimately made.