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][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why Biden’s choice is politically smart:
It’s not as much as cancelling all student debt
It could potentially quiet the calls for it, the discontent for a decade. Any comebacks after this $10k forgiveness will be met with “See? It’s never enough! [Points to action taken in Aug 2022]”. It puts an end to this period of light bullying of Biden.
The threshold was a great choice too. It comes under — refer to some NYT or such article calling anyone under 300k or 400k  low-income— it comes under that with $250k taxable income max for couples.[/quote]

Me again. Ooh. I meant to add:
$10k in loan forgiveness is so much better than $10k cash. 
Give the same to borrowers (or to people at large), and it doesn’t necessarily assist their lives. It helps the economy (debatable). But give people $10k directly to their loan balance, you’ve forced them to spend it ‘responsibly.’ What borrower is for sure going to get $10k cash and use it fully, 100%, toward their loans?[/quote]

+1 This. Lots of European countries fund undergraduate education fully or have colleges that are so much lower in cost than the USA.   This is a good policy.[/quote]

K.  But the Europeans are not dumb enough to think that “college is for everyone.”  As a result they can develop highly skilled tradesmen and educate their relatively small number of academically superior students for free. You’re right, this is a very effective model.  But it requires a separate vocational tract for most high school students and national entrance exams.  You still cool with this?
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