>It penalizes responsible behavior
No it doesn't. That is a ridiculous thing to say.
The people who received the cancellation have been paying on their loans for either 10, 20, or 25 years (depending on the degree type).
No it doesn't. That is a ridiculous thing to say.
The people who received the cancellation have been paying on their loans for either 10, 20, or 25 years (depending on the degree type).
Someone who received public loans to attend university and who spent 10, 20, or 25 years paying them off at which point the rest was cancelled isn't really irresponsible.
Aid should be merit-based. Both statistically and in my experience growing up at average and poor public schools <5% of the population is gifted and talented at the level where going to college would be a value gain for both them and society. Giving ~50% of youth a perverse incentive towards higher ed is obviously turning out to be destructive for both them and the institutions.