I have a feeling this is the whole "capital taking a haircut to keep things going" scenario playing out again.
Loan servicers don't appear to be fighting this given how slow the legal challenges seem to be rolling out. I think the game is to take the $10K per person write-off as long as it gets the payments restarted again without any type of structural tuition reform or total debt cancellation.
:this: any possibility of full forgiveness or education finance reform is gonna go out the window for another decade after this. All the ibr stuff can be rewritten by the next administration making this whole thing a poison pill for anyone who will have any considerable debt left over.
Exactly. I look to healthcare as an analogue. The Dems passed the GOP's healthcare plan for them going on 13 years ago now. Unsurprisingly, it's been woefully inadequate. Healthcare costs and medical debt have only increased. A global pandemic killed 1M+ people in the US, a third of which would likely be alive if the US had a humane healthcare system. Despite all that, any possibility of single-payer or even a milquetoast public option isn't just off the table, it's not even in the fucking building. :doomer:
I have a feeling this is the whole "capital taking a haircut to keep things going" scenario playing out again.
Loan servicers don't appear to be fighting this given how slow the legal challenges seem to be rolling out. I think the game is to take the $10K per person write-off as long as it gets the payments restarted again without any type of structural tuition reform or total debt cancellation.
:this: any possibility of full forgiveness or education finance reform is gonna go out the window for another decade after this. All the ibr stuff can be rewritten by the next administration making this whole thing a poison pill for anyone who will have any considerable debt left over.
Exactly. I look to healthcare as an analogue. The Dems passed the GOP's healthcare plan for them going on 13 years ago now. Unsurprisingly, it's been woefully inadequate. Healthcare costs and medical debt have only increased. A global pandemic killed 1M+ people in the US, a third of which would likely be alive if the US had a humane healthcare system. Despite all that, any possibility of single-payer or even a milquetoast public option isn't just off the table, it's not even in the fucking building. :doomer:
As a big steamy pile of shit once said, "This is a big fucking deal." :biden-troll: