Please Explain Why Students Should Have Loans Forgiven

Democratic candidates for president, Bernie Sanders and Elizabeth Warren, propose student loans be forgiven for students. This has never been done before. Why now? Is this the right thing to do? Let’s hear from America.

bernie
Screenshot July 24, 2019

Response to Bernie

TAX Wall Street to PAY DOWN current national debt of $23 TRILLION.

Why you relieve STUDENT debt? They party, go football games, drink beer, smoke the cannabis and have lots of sex.

How about HARD working people who get Trade Jobs, Service Jobs? Don’t they deserve FREE $50,000 for down payment on home or new car?

Why you care for ELITES — but IGNORE ordinary people who work HARD for a living?

bernie_liz

Bernie’s Plan

Senator Sanders’ student loan forgiveness plan is relatively straightforward: cancel both federal student loans and private student loans for more than 44 million student loan borrowers. There’s no eligibility criteria; everyone’s student loans are forgiven.

Liz Warren’s Plan

Senator Warren introduced legislation last month to cancel student loan debt for more than 95% of borrowers, and would entirely cancel student loan debt for more than 75% of Americans with student loan debt. Warren’s plan would:

  • Cancel $50,000 in student loan debt for every person with household income under $100,000.
  • Provide substantial debt cancellation for every person with household income between $100,000 and $250,000.
  • Also make private student loan debt eligible for cancellation.

Sanders plan would cancel more student loan debt than Warren’s proposal.

What Do People on Social Media Say?

Due to election season, I’ve seen much discussion recently. My friend Bianca C Hernandez posted this meme. She’s compassionate. Here’s what she says:

I 100% agree with this. I’ve seen what student does to people once they’re out of school and ready to start a life. I don’t wish that upon anyone.

So I’m completely in favor of this, if we have a trillion dollars to bail out Wall Street we can certainly take care of our kids and heck!

Maybe even boost the economy by actually giving this young people a break and instead of paying student debt they might be able to start new businesses and invest in innovative ideas.

bianca

I’m an economist. Not sure how we pay for new spending when we owe so much at this time. I responded:

goold

Just remember WE ADD $5.5 BILLION each day to the national credit card. It’s not like we have extra money sitting around.

You offer students money back on loans. What about ALL those who couldn’t afford to go to college? They’re out there struggling at $12/hr, working 2-3 jobs, shouldn’t they get a FREE car; or a FREE down payment on a home?

It seems students consider themselves “elites.” They were fortunate to go to college, study, attend cool parties and sporting events — run up a tab — and now ask the broke nation to pay it back.

If a student deserves $50K, then give ALL non-students $50K so they can help start their life.

Why does this generation of students believe they deserve and not others?

What do you think about these proposals to forgive student debt? Both Bernie and Liz suggest increasing taxes on the wealthy to pay for their programs. Maybe it would be better to pay down our national credit card, rather than look for new ways to spend.

Not popular to ask people to pay or sacrifice though. Politicians want to be popular. Leaders encourage us to do the right thing. Not many leaders today. Not many people who are willing to sacrifice or do the right thing either.


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Ko’olau of Kaua’i. I am the Defiant One
“I Believe We Can”

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