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Reply to "Student loan collections start tomorrow"
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[quote=Anonymous]You’re all missing the bigger picture here. This is not a debate on whether or not these loans should be forgiven it’s the timing of now. On top of tariffs On top of federal layoffs On top of drastic cuts in federal spending in ways that help to growth the economy (research etc) Tipping 9 million Americans into default now is yet another drag on the economy. Go debate Sen Warren on the merits of loan forgiveness (I didn’t vote for her and I thought it was a dumb idea then but it’s now a done dumb idea). Faulting Biden on his last ditch efforts to win the youth vote is not really productive. My fear is that this small - but statistically significant - impact is what may tip the scales. Imagine if all of a sudden - after years of deferrals - you are in default. Yep - consumer spending is going to feel the pain. That’s not good for any of us. Like it or not we live in a connected society. [/quote]
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