Reply to Why is Biden extending the student loan repayment pause?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem with this stupid policy is:
1. It’s inflationary at a time when too much govt money has been dumped into the economy 
2. It’s grossly unfair to those who exercised frugality in their college choices and paid off their loans
3. It’s grossly unfair for the working class to essentially pay off the professional classes debts.[b] Why not cancel car loans if arbitrarily throwing money around[/b]…[/quote]

For the 9537744th time, you can declare bankruptcy on car loans or credit card debt.[/quote]
Again bankruptcy has consequences-it's on your financial record for 7 years preventing you from getting loans and you usually have to liquidate personal assets if you aren't completely broke. Forgiving student loans does not do any of these things and is basically giving out more free money.[/quote]

Only for 7 years.[/quote]
I'm not sure what your point is. Are you arguing bankruptcy is consequence free?[/quote]

I’m arguing that student loan policies should be in line with bankruptcy protections for car loans and credit card debt. Even if that includes significantly raising student loan interest rates for students who have yet to take out loans. [/quote]

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