rad, then in two years we're right back where we started except they'll bitch and moan that it happened in the first place and any sort of conversation towards total debt relief is gone forever
Presumably because more new students will be taking on debt and those who had much more than $10k outstanding during the cancellation will still have years of payments ahead of them. "Right back where we started" is hyperbolic, but unless something is done about the amount of debt students are taking on to go to school in the first place, cancellation will only be a temporary fix. Still not an excuse not to do it though
also like, as we've seen from the pandemic relief, if workers get any handout it's a once in a generation thing that will be the excuse for extreme austerity. If it isn't all the student debt, you can assume they'll jack up rates to high heaven and when compounded with skyrocketing education costs, "right back where we started from" probably isn't strong enough
The hilarious part is it won't change shit about the midterms because almost everybody with student debt will still be paying their debt.
Like it's just hard to psychically connect with the fact that you'll be able to stop paying down your loans in 3 years instead of 4. You won't know how good it feels to stop for 3 years, and then only maybe will you connect it to a thing Biden did and connect that you would still be paying them down that year instead of finally putting money in your savings.
It would still make all the rich fucks and chuds shit their pants upon hearing it, calling people ungrateful for their $190,000 loans restarting instead of their $200,000 loan restarting
10k is fucking nothing for most.
median student debt is 17K so it would be a big deal for most. I've got 20k myself.
rad, then in two years we're right back where we started except they'll bitch and moan that it happened in the first place and any sort of conversation towards total debt relief is gone forever
How does 10K debt gone mean we'd be right back where we started in 2 years?
Presumably because more new students will be taking on debt and those who had much more than $10k outstanding during the cancellation will still have years of payments ahead of them. "Right back where we started" is hyperbolic, but unless something is done about the amount of debt students are taking on to go to school in the first place, cancellation will only be a temporary fix. Still not an excuse not to do it though
also like, as we've seen from the pandemic relief, if workers get any handout it's a once in a generation thing that will be the excuse for extreme austerity. If it isn't all the student debt, you can assume they'll jack up rates to high heaven and when compounded with skyrocketing education costs, "right back where we started from" probably isn't strong enough
So for those in the graduate or medical fields it means we get even more fucked...lovely. I hate this fucking country...
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If it's universally applied. If it's means tested by income it won't be enough.
:meow-bounce:
The hilarious part is it won't change shit about the midterms because almost everybody with student debt will still be paying their debt.
Like it's just hard to psychically connect with the fact that you'll be able to stop paying down your loans in 3 years instead of 4. You won't know how good it feels to stop for 3 years, and then only maybe will you connect it to a thing Biden did and connect that you would still be paying them down that year instead of finally putting money in your savings.
they're trying to crash wages at the expense of the economy, 3 years could turn into 10 for a lot of people real quick
It would still make all the rich fucks and chuds shit their pants upon hearing it, calling people ungrateful for their $190,000 loans restarting instead of their $200,000 loan restarting
If the median Student loan is 17k, how can some people have 200k loan. Isn't median, the middle value of all possible amounts?
I think it may be only including federal loans because that's all they can forgive.
Median is when half the people have less, half the people have more, but it could be way more
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