"Student debt forgiveness punishes ordinary Americans and cash-strapped graduates by letting greedy universities off the hook"
www.adambcoleman.com
"Student debt forgiveness punishes ordinary Americans and cash-strapped graduates by letting greedy universities off the hook"
My Latest Telegraph Article
Article Link - https://www.telegraph.co.uk/us/comment/2024/04/30/student-occupation-us-loan-debt-deadline-joe-biden-amnesty/
Joe Biden is once again using student loan forgiveness as a ploy to get votes but he’s ignoring the biggest problem: the colleges. Wiping the debt and not addressing the college’s ability to gauge students will just ensure that this problem will continue to get worse.
Can you imagine car dealerships begging that their buyers be bailed out because an overpriced/mismatched car was sold to them? This is also just another war against those who decided to pursue an apprenticeship or trade instead of college. It is class warfare. The irony though is that those who are despised may end up on top financially. At least, that is how South Park sees it and they often seem to predict the future.
It was Obama's response to the crash that have caused college costs (therefore debt) to soar. Sallie Mae and Fannie Mae were restructured to be more privatized and beholden to big banks. As soon as colleges found out that loans would be processed through banks instead of through the Fed Gov't (where costs were regulated), they realized that they could raise prices....and indeed they did! Banks profit from the loans/interest and Higher Education profits by being able to charge what they want. Cancelling student debt without fixing the existing infrastructure (banks, colleges) will just keep this cycle going generation after generation. I have kids in college and it is EXPENSIVE, but I don't want debt cancelled....I want real fixes implemented on the banks and colleges. No one seems to be talking about the real issue!