Student Loan Forgiveness Plan #studentloanforgiveness #inflation #studentloandebt

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The Supreme Court ruled 6 to 3 Friday that President Biden exceeded his authority with a plan to forgive more than $400 billion in federal student loan debt, a policy that stood to benefit more than 40 million Americans. The plan would have eliminated up to $20,000 of federal student debt for borrowers earning up to $125,000 annually, or up to $250,000 for married couples.

Here are some pros and cons:

Pros:
-Student loan debt is slowing the national economy. Forgiveness would boost the economy, benefiting everyone.
-Student loan debt has disproportionately hurt black students. Forgiveness could help rectify racial inequity.
-Student loan debt has infantilized a generation or more of Americans, preventing them from achieving milestones such as getting married, buying a house, or saving for retirement. Discharging such debt would help foster a healthier, most productive, more socially constructive citizenry.

Cons:
-Student loan forgiveness is an abuse of the loan system. People must be held responsible for their personal economic choices.
-Student loan debt forgiveness would disproportionately help rich or more financially secure college graduates.
-Discharging student loan debt would only be a temporary bandage for the much larger problem of inflated college costs.

@washingtonpost @newyorktimes @cnbc @marketwatch @yahoofinance

#studentloandebt #studentloanforgiveness #inflation #school #education #money

[aldenrhein]

For debtors that can prove they are financially struggling, we the people could restructure their debt so that interest on the debt is affordable for them. Also I've noticed that debt forgiveness is inflationary, so current levels of inflation could be taken into consideration when restructuring debt.

[jaredkarr]

Pay your stuff you barrowed it i did not im tired of being taxed because yall arent responsible.

[minddevastation]

Good, no handouts needed. Only the smart are debtless

[itzamia]

I'm glad you're a self made millionaire. This video wouldn't have been valid without letting us know that.