Post AO031j7TdyC0xM9UaO by RJA@democracy.town
 (DIR) More posts by RJA@democracy.town
 (DIR) Post #AO031j7TdyC0xM9UaO by RJA@democracy.town
       2022-09-26T20:42:50Z
       
       0 likes, 1 repeats
       
       Ok, here are the merits:People who complain about the loan forgiveness have no idea what student loan debt is like these days. Many people have been making the required payments faithfully for years, and yet now owe MORE than the original amount of the loan. They cannot disburse this amount in bankruptcy court either. They are stuck with it their entire lives.In most cases, they can’t even choose to pay down part of the principal by making extra payments; those payments go to future payments owed, not principal.There is a lot of predatory lending out there, and the vast majority of 17-18 year olds are not sophisticated enough to see through it.The money paid toward loans goes to the upper 1% where it sits, unspent, instead of circulating through the economy with the purchase of homes, cars, and consumer goods and services, and causes people to suffer needlessly. Biden's student loan relief could cost $400 billion, Congressional Budget Office says-https://www.cnbc.com/2022/09/26/bidens-student-loan-relief-could-cost-400-billion-congressional-budget-office-says.html
       
 (DIR) Post #AO033gjFVHIq7XkrlA by TonyStark@democracy.town
       2022-09-26T22:17:15Z
       
       0 likes, 1 repeats
       
       @RJA So $400B a year, which is a fraction of a fraction of federal spending, and some people act as if this is the end of the known universe.It helps everyone from a societal standpoint. It’s a good thing that Biden did it.