I think you’re missing out on a broader point: Sure, forgiveness is the worst policy option. But student loans are also the shittiest possible education financing model. The whole sector should be abolished and burned with fire.
The problem with student loan forgiveness is that it lets the banks and colleges keep on their destructive path. When the government changed the student loan laws (under Obama) with the banks/SallieMae, the colleges saw an opportunity to financially rape parents and kids by exorbitantly raising costs. Add to the fact that Arne Duncan was touting that RTtT (and all the Common Core/standardized testing garbage) would mean that EVERY child NEEDED to go to college to succeed. College and Career Ready was the mantra that parents were fed.....and boy did parents eat it up! No amount of student debt forgiveness will make a difference until the larger policies are changed/amended.
Oh, and Bill Gates and many of the other billionnaires are nothing but faux-lanthropists. They "give" their money with strings attached and that is NOT philanthropy based on altruism.
I think you’re missing out on a broader point: Sure, forgiveness is the worst policy option. But student loans are also the shittiest possible education financing model. The whole sector should be abolished and burned with fire.
The problem with student loan forgiveness is that it lets the banks and colleges keep on their destructive path. When the government changed the student loan laws (under Obama) with the banks/SallieMae, the colleges saw an opportunity to financially rape parents and kids by exorbitantly raising costs. Add to the fact that Arne Duncan was touting that RTtT (and all the Common Core/standardized testing garbage) would mean that EVERY child NEEDED to go to college to succeed. College and Career Ready was the mantra that parents were fed.....and boy did parents eat it up! No amount of student debt forgiveness will make a difference until the larger policies are changed/amended.
Oh, and Bill Gates and many of the other billionnaires are nothing but faux-lanthropists. They "give" their money with strings attached and that is NOT philanthropy based on altruism.