this post was submitted on 26 Jun 2023
28 points (100.0% liked)
Politics
10181 readers
13 users here now
In-depth political discussion from around the world; if it's a political happening, you can post it here.
Guidelines for submissions:
- Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
- Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
- Do not post ragebait or shock stories. These will be removed.
- Do not post tabloid or blogspam stories. These will be removed.
- Social media should be a source of last resort.
These guidelines will be enforced on a know-it-when-I-see-it basis.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I want someone to be the devil advocate. Let's say this happens, what then? What kind of nefarious things can one or more capitalist do to make this shit goes sideways?
Not because I hate the bill (I love it infact - more power to the students!), but because I hate the people that will take evil advantage out of this situation.
I'm not sure what could be done. It's an executive order, not a bill, and it's scope is fairly limited. It doesn't create any new powers, just uses what's outlined in the HEROES Act to reduce the burden of student loans. Since it's an executive order the next President could revoke it, but the cancelled amounts can't be brought back so that would just wipe away the changes to how interest is handled.
Capitalists will do what they can to make money wherever they can, I simply don't see that as worth not wiping out student loans over, whether it's through this bill or otherwise.