What would happen if the government simply cancelled all student loans? How would the economy be affected? We’re diving into some of the research from Levy Economics Institute of Bard College to see what some of the outcomes might be from forgiving all student loans.

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Goal Guys : The Case for Cancelling All Student Loans

Loans

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22 COMMENTS

  1. I say we regulate and priorities FUTURE school loans to not be so grossly out for profits with high interest rates. Anyone who has already payed off their debts (say yesterday) would be furious and rightfully so if tomorrow all debts were forgiven. Focusing on FUTURE loans or removing the loans all-together should be the priority

  2. This completely ignores the fact that most higher education in America is highway robbery in the fact that the university's are non profits pulling in billions of dollars a year paying millions to overpaid salerys and overkill expansions that keeps pushing the cost of tuition up. Forgiving the debt encourages the university's to keep raising the cost of tuition knowing that the government will pay it back. That's just my immediate reaction though, tell me if I'm wrong.

  3. With income based repayment plans, at 20 years my responsibility to my loan will be half what I owe at a rate so low that I can't complain about the monthly bill. Why doesn't everyone just do this plan? Because students are irresponsible and don't work quickly to set up a plan and once delinquent fail to qualify for it. Other students are irrationally afraid of debt, which is moronic in our capitalistic society which rewards debt acquisition and management.

  4. Why stop at student loan debt then? Forgive/cancel all debt and we'll create like.. infinity jobs. Also, government can mandate the standard size of an erect penis at 1.3in. Everyone can have a giant manhood! Equality.

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  8. How bout we talk about the rise in cost of education in the last 3 decades….its becoming more and more expensive to go to school where you're told that everyone gets a college degree now….

  9. No debt!!!! haha stupid college goers most of you thought you guys were cool and better than everybody else because you guys went to college
    Now this is me πŸ–•πŸ˜ŠπŸ–•πŸšπŸ πŸ‘πŸ˜πŸ’°πŸ’°πŸ’°πŸ’°πŸ’°πŸ’°πŸ¦
    And this is you losers πŸ“‰πŸ—‘πŸ˜§

  10. I definitely don't know enough about economics to comment on this topic directly. I do wish personal finance was drilled in our public education system as much as math formulas. The one personal finance class that I needed for my BBA definitely opened my eyes to pit falls and options I wish everyone could know. Maybe fewer people would be in hot water over their loans.

  11. Would not be happy if they forgave all existing debts. I have worked my tail off to pay mine back in a short period of time. That would negate all the work many of us have accomplished.

  12. You seem to forget that government doesn't create money out of thin air; it either has to take money out the economy through taxes or pay interest on borrowed money. The former would result in no more money in the economy and the latter would add $1.5 trillion dollars to the already astronomical $20 trillion, and generations of people paying off this loan buyout. In the long run this policy sucks.

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