Saturday, April 30, 2022

Student debt

The idea of canceling student debt is being challenged. Statistics show that having a college education will increase your lifetime earnings by about one million dollars. Forgiving the debt means transferring the debt to all working people at $13,000 per person. The people who are going to make the extra money will have their debt paid by those who will be making less. Add to that, all of the people who paid their own way, many by working while going to school, and those who have already paid off their loans and ask if this is right. From a political standpoint 40 million people have college loans and 300 million do not. 60% of the loan holders are from families with incomes about $75,000. Many people with loans are young and tend not to vote. Will this bring them to the polls. Probably if your meet them at the polling booth and cancel the loan as they finish voting. Has anyone in the White House thought this through?

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