$1.57 trillion in student debt
— the U.S. government holds more than 90 percent of it. Some Democrats want to make that, or at least a large portion of it, disappear. The idea of canceling student debt has been gaining steam with 2020 candidates vying for the votes of young college-educated Americans. On April 23, Sen. Elizabeth Warren, D-Mass. was the first 2020 presidential candidate toBut what would it actually take to eliminate a big chunk of government-held student debt, and is it really a good idea?See more:
I assume this is a rhetorical question?
To all the folks on here who are against debt relief. Ask your President what he did with the money he saved declaring multiple bankruptcies!! And then let the people he didn’t pay know.
I could afford to actually start living.
I’d feel ripped off since I made sacrifices to pay my bill.
More political bs
Nothing but catastrophe for us, somehow.
Makes me wish I hadn’t worked my butt off to pay off my debt.
Really...is this your platform? Cancelling student debt? We’re f%cked! 🤦♂️
I’m curious what kind of car the girl on the phone bought? My assumption is she bought something new or just a couple years old, when she could have bought something with a few miles on and cost less than 5k. My generation has a problem with having to sacrifice to succeed.
A very irresponsible action the unintended consequences would be that folks who take on debt would feel entitled and should not have to pay it back. Better to provide colleges with enuf funds so they can reduce tuitions.
Bankruptcy. Good way to teach being responsible for your actions.
Probably allow hundreds-thousands of families breath a bit better
I think it would bring immediate relief to struggling families, help people save, invest, and possibly stimulate the economy.
Nothing. Trump gave his friends Billions of our tax Money.
nothing at all...ask jp morgen or one of the other big banks....they rule the world n government just like the tech giants n industry giants. So? enough money there..wouldnt hurt anything..
You can’t teach stupid.
Foreign countries would have to wait for US aid? Heavenforbid
What would happen if the U.S canceled $1 trillion of tax obligations for ordinary citizens?
We’d be 1 Trillion more in debt and pay for it through our taxes anyway.
Nothing good 💩👺🤡👹
Let’s start with universities cutting pay of every professor and president by 40%. They have been charging artificially high prices for years because of student loans creating artificial demand.
Nothing!! It would be a glorious day!!! Look at all the people who could afford to save! Or purchase homes alot sooner! Or fucking have a GOOD CREDIT SCORE! Idk! Im just braingstorming here
Student loans are a giant scam to give cover to universities to charge outrageous prices.
Middle class will foot the bill.
What are the effects of the Govt balance sheet if they forgive 1 trillion in debt
If universities will pay back the loans, I’m all for canceling students’ debt. The colleges took the loan money and lined their pockets with it. Sure, pay it back now. However, there’s no concept under which taxpayers should be obligated to repay random people’s loans
Why should the government cancel the debt, how about going back to the schools that suckered these folks into borrowing money to pay for an education that would produce sufficient income to pay back the loans. Why should the government bail out poor behavior.
Well I bought this great starter house, thought it was a good idea to take out a loan. Now I am struggling with debt so why not cancel my debt. Folks get with it, you wanted to do something, needed money to do it and hadn’t saved so you borrowed it. Now be an adult and pay back.
Absolute pure anger from those of us who paid our bills like you’re supposed to instead of sitting around whining and looking for mommy government to bail out our poor life choices.
Why: to develop a more educated workforce. Who: tuition loans of those who need it most. Payer: the 1% who have so much excess Problem: abuses similar to welfare system
Let’s just default on all of our debt. To China. Other holders of Treasuries.
Nothing would happen? The debt is fake represented by fake university programs funded by fake loan provider storefronts setup to fleece generations out of their wealth today, tomorrow and the day after. Most students can’t and aren’t paying yet the economy is booming. 💋
Moral Hazards.
You don’t cancel it. You restructure it like you restructure bad corporate debt . Lengthen terms 50yr and take rate down to reality
Billions back in to the economy
Millennials have to get used to paying their own bills just like the generations before them .
Can I get my car loan cancelled?
What would happen if I shit rainbows?
That would be great! I can borrow more after that happens. I can finally come back home to America
the left would be so happy & when we all get have to pay for it they will somehow try and blame Trump
They'd find a new way to be $1 trillion in debt.
by canceling student loan debt you mean printing a trillion dollars to pay off the banks again? bailouts cronycapitalism nomore
They’ll continue to make poor financial decisions because hey, if I buy things I can’t afford the government will bail me out.
my son would move back home from China
Interest from student loans pays for the ACA. That would crash.
Can we eliminate my tax obligations, too?
You would teach an entire generation of college students that they do not have to honor their word. They signed the notes promising to repay them. Nobody forced this upon them.
To cancel $1 Trillion of student debt would actually do more for America than a Trillion Dollars per year to the Pentagon.
WHY ISN’T HIGHER EDUCATION FREE LIKE IN EUROPE
Millennials would buy houses, have babies if they wished and live with less stress!
Since I paid mine off....do I get my money back? While we're at it, let's have all of our mortgages paid off too. Car payments too. Screw it, forgive all debt.
Nothing but happiness!!! What would happen if we didn’t have a black budget, and Trillions didn’t nonchalantly go unaccounted for🙄
Worthless people
The national debt goes up 1 trillion over night?
They will reapply for another trillion$ in debt as soon as the first trillion is canceled.
riots. defaults on home mortgages and car payments....we ALL struggle to pay the bills...no matter how much money we make we will ALWAYS live on the far edge of our means....so if you clear one burden than clear it all and clear all credit reports while ur at it
The people who are responsible in their lives, and do not take up vagina studies should NOT be financially responsible for dipshits.
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