Biden's new student loan forgiveness erase up to $20k in interest for millions

The universities already have their money, in my case they have had it for 10 years now.

At best this sets a precedence that, oh we can charge whatever we want because the government will bail the student out.

Which is valid, but I don't see it as rewarding them. The schools are not getting anything from this directly unless I am missing something.

do you have dirty laundry too that you want people who have the time to do it for you because you are incapable of taking on that responsibility.

you argument is that because interest rate and inflation is a lot higher than when you took out the loan, you should not share that responsibility (it should be others) which is just lazy and incredibly childish.

Why? Unsecured loans are servitude. And it just inflates the cost of the thing lended for.

I don't think one can argue for usury from some sort of moral angle.

Also, it is kinda ridiculous that at 18 years old it is completely fine that I can take out an almost $10,000 loan, another $10 at 19 and so on and so forth. Making this decision when I am barely an adult, for many people the first time that they had any real sense of financial freedom with no one to tell them no. Differed payments so it's a problem for 4+ years from now and barely any education on what that actually meant.

Trying to compare this to crypto is stupid.

I am fine with paying for my loans, but it is ridiculous that I have been paying or my student loans for 10 years and I am still 2x what I originally took out. My sister is 5 times what she took out.

There is a fundamental problem with our education system and student loans and we need to address both of them. But let's not pretend that student loans are not largely predatory. We just don't call them that because they are for school and by the government.

Not everyone gets out of school and lands a job, or lands a job that will actually pay enough to pay off their loans.

Edit:

Since we really want to focus on "personal responsibility" here, I feel like we should remember that we don't think someone can handle drinking alcohol until they are 21. But by the time they are allowed to drink we are perfectly fine with them having taken out $32,500 in loans for school assuming they take the maximum at 18, 19, and 20.

How do we not see the problem here. I can get in more debt than I will likely ever be in except for buying a house (even a car may be less than that) before I am legally able to drink alcohol.

It sounds like we think that 18, 19, 20 year olds are not responsible, unless it is about getting into a life defining amount of debt that will seriously hamper your financial stability likely into your 40's.

And we subsidize corporate profits, and execute innocent people, and kill humans wars. That is fine in our names with our money.

So doing some good for comet students, who contributing and had no choice but to borrow, seems moral to me. But to be petty and moan about how it’s unfair when there is so much that is also unfair, that sounds small.

If millions of people do it, there is a systemic problem that needs addressing.

It can be both things at once.

This is a predatory system. You can pat yourself on the back for digging out of it, but you should want better for society. Nobody deserves to be chained to loans for life - not you, not your fellow citizen.

We shouldn’t keep a broken system just because your feelings are hurt.

Shall we get into our massive white collar middle class jobs programs...namely the defense industry? There is a fuck ton of fat that could be cut there. I don't want that. Not do I want to stop welfare programs. I like civilized, peaceful society (we are on a bit of holiday with the civility I must admit).