General Discussion
In reply to the discussion: This argument about having paid your loans and so should everybody else [View all]But none of those address runaway tuition coats that have been far outpacing inflation. Instead of directly subsidizing higher education by lowering or eliminating tuition at public schools, we subsidize the banking industry with federally guaranteed loans, which flood the market with cheap, easy money and drive tuition prices through the roof.
Forgiving loans and reducing payments will lead to more people taking loans, leading to even more profits for the banks and more money in the higher education market and that will lead to even higher tuition prices.
Yes, Biden just handed me and my wife 20K+. But how much more our are kids going to have to pay if this cycle of more loans-higher prices continues? Use public funds to lower tuition at public schools, not funding the banking industry.