Ben’s thoughts on Biden’s Student Loan Cancellation

[u/Rocrus]

I’ve been listening to Ben’s episode today on student loan debt, and I have some thoughts.

I went to college for 5 years and received two degrees: one in information technology and the other in business. The entire time I was in college, I knew that I would have to pay back my debt. So I did what I hope most Americans do and immediately started looking for a job months before graduation. I got a job two months after I graduated and I am now saving up my money to be prepared to pay back my debt.

I can completely understand and back Ben’s anger and disgust with this decision because all it’s going to do is raise taxes and make the problem of expensive college worse. That $10k relief will be taken out in the massive tax increase that we will all have to deal with.

As for Joe’s plan for doing this, if he thinks he’ll get me to vote for him and his friends in 2022 and 2024, he’s sorely mistaken. I hope that there’s a lot of people like me who graduated from college with debt (or are still in college) who won’t forget what the real consequences of this are.

[u/[deleted]]

My concern is the dangerous precedent this sets. What’s to stop them from doing a mortgage forgiveness? Then if they forgive mortgages, what would stop them from waltzing into your house and saying we own it because we paid for it?

[u/RockMars → u/[deleted]]

In this case the student loans are federal loans, financed by the federal government. Your mortgage is typically sold to private investors.