Student loan forgiveness sounds great for borrowers overburdened with high interest rate debts they cannot repay. The problem is that the subsidy appears to go principally to more affluent families at the cost of burdening those who didn’t attend college or whose parents saved to send their kids to school. It should be illegal for a president to buy votes by transferring funds from certain citizens to others he believes are more likely to support him in an election.
Student loan forgiveness sounds great for borrowers overburdened with high interest rate debts they cannot repay. The problem is that the subsidy appears to go principally to more affluent families at the cost of burdening those who didn’t attend college or whose parents saved to send their kids to school. It should be illegal for a president to buy votes by transferring funds from certain citizens to others he believes are more likely to support him in an election.
@BillAckman I’m for debt relief is you fix the problem that caused this. Make student loans illegal. Or take out the bankruptcy remote piece. Prices of college would fall Universities are bloated They would be forced to do more with less.
@novogratz Or require colleges to be a first loss lender on every student loan.
@BillAckman @novogratz No degree should cost more than it would take that profession to reasonably pay back over 10 years.
@BillAckman @novogratz Is the debt that's forgiven taxed as income?
A lot of kids prob wouldn’t get in. I’m pretty sure colleges overlook some grade deficiencies for the money. We want the kids in school (I won’t drone on about the liberal bias) but they should have an interest free loan. The govt can pay the interest to the lender. Student on the hook for the principle for life….
@BillAckman @novogratz I’d rather not fund colleges or loans with tax dollars. They’re a mess.
@BillAckman @novogratz First loss doesn't work when their real profit margins are 100x the first loss position.
@BillAckman @novogratz So, let’s unpack this... 1️⃣ Debt-addled students default 2️⃣ Uni steps in so former students can continue being delinquent unfettered 3️⃣ Uni raises tuitions to remain solvent 4️⃣ New students borrow more 5️⃣ GOTO 1 How does this help again? 🤔
@BillAckman @novogratz How about having the taxpayers not be involved in student loans period