Student loan forgiveness is being taken seriously right now by the bourgeoisie.
The Federal interest rate going near 0% has led to a massive boom in housing construction. Student loan deferment has led to many people saving up for a down payment on a house. The housing market is carrying the US economy right now.
If student loan deferment ends, this space that Capital found for expansion will disappear. There will be an immediate crisis.
Also, the effort to privatize student loans has been a failure. Betsy DeVos has been the Secretary of Education most dedicated to privatization. She killed the Perkins Loan, which has led many new students to private loans.
Although, after her reign, 92% of public student loan debt are still held by the Department of Education. It is unlikely that the Biden SoE will be more successful at speeding up the process. Capital is in crisis now.
Forgiving public debts is a method of privatization in America, where a culture of indebtedness exists. They want everyone with public student loans to take out private mortgages, owned by JPMorgan, Citigroup, etc.
I'm not saying student loan forgiveness is good or bad. It is good for me. But it serves a purpose that we should understand.
100%
Teachers went on strike in my city last Wednesday. The School Board revoked their health care Tuesday night.
There was massive community support for the teachers, and the Board capitulated to their demands in a day. But still, it clearly illustrated the role of employer-based health insurance to people here.
Anyone that yanks health care during a pandemic earns a date with the business end of a crowbar
Followed by an "I'm sorry, we don't take patients with pre-existing crowbar wounds. That'll be $300,000."
It became a huge scandal that hasn't let up yet (thankfully). The Board is trying to save-face right now, but people are pissed.
They will probably get voted out next year. They deserve much worse lol
I hope they get everything they deserve.
I think you and I live in the same Rust Belt inner ring suburb