Reply to Canceling $10k of student loan debt is stupid.

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Reply to "Canceling $10k of student loan debt is stupid."

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[quote=Anonymous]The higher education system needs to be revamped as does the student loan and credit industry.

Why do multinational corporations which pay nothing or next to nothing in taxes get enormous federal government bailouts when they mess up. That's not capitalism.

Amending the bankruptcy laws would have a dramatic effect on the free flow of student loan funds. If you want accountability, then schools, lenders, government officials, and borrowers should all should be held accountable. Higher education marketing materials need to be regulated and need to verify their claimed employment and earnings statistics. Lenders and schools need to restrict lending to normal credit standards.

Biden is forgiving $10,000 just to live up to a campaign promise. Doesn't solve anything. Pushes the ballooning problem to the next election cycle.

Senator Elizabeth Warren / Senator Bernie Sanders needs to make a stronger stand. She could have withheld her vote on the Inflation Reduction Act in order to get the more reasonable amount of forgiveness, and she needs to revamp other factors causing this problem or it will only get worse. These two Senators were in a position of power; instead we let a Senator install a provision in the bill to assure that the ultra-rich get richer by preserving tax favored status for carried interest.

In short, we need a third political party to represent the interests of the majority of US families and voters.[/quote]

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