Quote:
Originally Posted by Danth
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You can discharge your car loan via existing bankruptcy law any time you like. A lot of student debt cannot be discharged via similar means. That's a large part of why this issue has become the issue it has; with no means of debt management we're otherwise gradually falling back to a form of 19th century debt slavery. The universities are bringing this on themselves by fighting bankruptcy law tooth and nail; had they been more reasonable the point would've been moot. I do not particularly like student debt forbearance or forgiveness in a perfect world, but it's turning into a sensible option in our corrupt far-from-perfect world.
Danth
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Oh I agree. Higher education costs way too much now and you can't discharge it depending on the loan (most have the type you can't discharge).
But 10k is not a lot of money to forgive. 20k for Pell Grant recipients is a better amount and can make a difference if forgiven, but 10k is small potatoes. It's not going to suddenly change these graduates' lives.
They keep talking about loan forgiveness but won't address why it's so damned expensive to get an education in the first place. And they won't. It's big business. The almighty dollar reigns supreme.