Student debt forgiveness is a horrible idea

Responsible adults pay off their debts.

If student debt does get forgiven, that will just give colleges one more reason to raise their tuition. Students will then borrow even more money, knowing that they won’t have to pay it back. The more money the government spends on college aid, the more the colleges raise their tuition. College tuition has already risen many times faster than the rate of inflation, and the last thing we need is to make this problem even worse than it already is.

Student debt forgiveness is unfair to the students who already paid off their debt.

Student debt forgiveness is also unfair to students who worked their way through college.

Student debt forgiveness is also unfair to people who never go to college.

January 5, 2019. Tags: , , , . Economics, Education.

One Comment

  1. Don Thompson replied:

    Students are not the only ones responsible for this mess.

    Universities continually encourage students to take out loans for degrees that are known to be mostly unmarketable. They are sometimes no better than a used car salesman taking advantage of a young, first time buyer, telling them half truths and concealing important information.

    Universities profited from the student loan scam so I don’t see why they shouldn’t bear some of the costs for this mess.

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