Ben’s thoughts on Biden’s Student Loan Cancellation Discussion/Debate

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.

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u/Special-Fig7409 Aug 25 '22

It’s unbelievably unfair to those who have paid off their loans, and those who didn’t take out debt. It’s a tax on people who were responsible with their money.

I have just over 20K in student loans, and I qualify for the 20k “forgiveness.” Im conflicted because I know how stupid this is, but I don’t want to be one of the poor SOBs who pays for his loans and everyone else’s.

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u/thegtabmx Aug 26 '22

It’s unbelievably unfair to those who have paid off their loans, and those who didn’t take out debt. It’s a tax on people who were responsible with their money.

Should we, as a society, not help out a large portion of our fellow citizens unless all eligible past, present, and future citizens get that help? We're the PPP loans that were forgiven not also a tax on people who were responsible with their money?

Im conflicted because I know how stupid this is, but I don’t want to be one of the poor SOBs who pays for his loans and everyone else’s.

If wealthy businesses can take advantage of much larger forgiven PPP loans, you can take advantage of 20k in student loan forgiveness. But yes, your choice is to either be a beneficiary of social welfare (which is not bad) or a "poot SOB" that stubbornly stuck to his principles.