General Discussion
In reply to the discussion: Student-Loan Delinquency Skyrocketing, Reportedly Hitting 'Danger Zone' [View all]Demo_Chris
(6,234 posts)So let's do a program that exempts kids with parents who are well off -- say 100,000 a year for family income. And rather than forgiving debt as a one time thing, we instead eliminate interest on the loan as a permanent thing. Mind you, it's a lame 'solution' that doesn't really accomplish what needs to be accomplished, education costs would still be out of control, but it would be better than what we have now.
Then again, a one time debt-forgiveness program doesn't solve the problem either. It only solves it for the group of students who happen to have debt they cannot afford today -- and the more debt, and higher degrees, and the better the post-graduate earning potential, the better they make out with this program. The former student with the Masters of Business from Harvard gets a massive amount of money, the student who just graduated from the University of Pheonix with a degree in welding sees comparatively little, and the high school senior wanting to become a Teacher gets nothing because he or she happened to be born in the wrong year.