Reply to This story of loan forgiveness does not sit well with me

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OMG -- I wish someone would create a chart that compares the "cost" of student loan forgiveness against the cost of tax breaks for the wealthy and corporations.

Why do Americans think it's totally unfair to forgive student loans but it's totally fine that most US corporations pay almost nothing in taxes?

When Republicans eliminate taxes for the super rich and for corporations, everyone shrugs.

When Democrats eliminate crippling student loan debt for a few thousand people, everyone goes nuts.

Explain it to me like I'm 5.

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Easy. The crippling student loan debt for a few thousand people is only crippling because those few thousand people refuse to work harder and get better paying jobs. Anyone with a moral compass takes responsibility for their decisions and holds themselves accountable. Disappointing to have to coexist with people that constantly take the self-indulgent path. [/quote]

or they chose to take ridiculous amount of loans that are not commensurate with their major/job prospects.  All states have good state schools that cost only $25-30K currently.  Your good student can get some merit at several of them.  Take 5.5K in federal subsidized loans, earn $10K (student) over the year.  Now you owe $10-15K for the year.  If your parents cannot help with that, then you need to search for a college that gives you more merit.  
But if you choose to take out money that you cannot really afford to get a degree that does not pay well, then that is on you.  But there are options for college to not put you into any more debt than $27K (total for 4 years).  Then you can choose to live frugally for another 2-4 years and make a huge dent in those loans.

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These kids need to attend community college, full stop.  A lot of them who have no savings and aren’t smart enough to get good merit end up taking out the $10-15k per year because it doesn’t seem like that much at the time.  But interest accumulation can be crippling.  Even if someone goes for a degree that “pays well” it doesn’t necessarily mean your first job out of college will pay well.  It’s really easy to get in over your head. [/quote]

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