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Dear Editor:
Loan forgiveness is just another vote-buying, power-grabbing, inflation-promoting, freedom-sucking effort by our present administration.
In addition, where is it stated that the president has the right to execute this travesty?
Those that chose not to buy into the idea that everyone should go to college and decided to work and pay taxes, and those who did invest in the attainment of a college degree, paid for it and any associated loans, will now have their tax contributions (equivalent to time out of their lives) given to those who made a legal commitment that will not be enforced.
That really appears to be sensible and fair, doesn’t it? Particularly, since those who will not be responsible for paying off their loans are making more money than those taxpayers on the lower end of the income scale.
Just because some source, possibly the educational establishment promoting its own interests, told you that you needed a degree at any cost and you bought into it does not mean the rest of us should pay for it.
Ron Blaisdell
Carmel
Did you complain about the 2009 bailout, the 2017 tax cut for the rich and large corporations or the PPP loan forgiveness? If so, your complaint maybe legitimate. But if you didn’t, now is not the time to start.
If they forgive current student loans then they need to forgive EVERY student loan EVER taken out.
Why should the current loans be any different than ALL student loans?
$10k is a drop in the bucket, but will be a tremendous help to the victims of predatory lenders. It’s a start; not a final solution. The whole system needs an overhaul and oversight.
For example, if you borrow every semester for a 4 year degree you’ll come out with 8 loans. All eight you paid separate ‘origination fees’ and the balance began increasing with interest from the moment they gave the money to the bursar. All 8 often have differing interest rates. Then you graduate and they’ll‘helpfully’ offer to ‘consolidate’ them into one big loan (at an even higher rate than any of the smaller ones), and of course we’ll charge another ‘origination fee’ and so forth.
Is it any wonder out young are drowning in debt before they even begin earning?
Ron/Mark…agree with you 100%….Student loan forgiveness is a slap in the face
to all those Students who played by the rules….Corporate bailouts are a far
different circumstance….not a fair comparison at all….
The real problem is the high price of tuition that raises every year except at Purdue. This is a good cause for the students to protest or even bring on lawsuits against the higher education entities. Did the IU students ever get their money back for the non use of room and board when forced to leave campus due to the lockdowns? Graduates who can earn $125.000 a year can afford to pay off their loans. If this goes through, I would ask the recipients how they will pay it forward to the taxpayers.