this post was submitted on 30 Jun 2023
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The Supreme Court ruled Biden's student-loan forgiveness is illegal, meaning borrowers will resume payments without debt cancellation this year.

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[–] Aesthesiaphilia@kbin.social 1 points 1 year ago (1 children)

Forgiving student loans would make all of that worse except for a lucky few.

[–] uselessartifact@kbin.social 3 points 1 year ago (1 children)

can you elaborate on how the points @LegendofDragoon mentioned would get worse if student loans were fogiven?

[–] Aesthesiaphilia@kbin.social 1 points 1 year ago

our grandparents didn't have student debt because tuition could be paid with a part time job

If a thing costs $10, and the government offers to pay $5 of it without any further action, the price of the thing rises to $15. Government money without restrictions is a big part of why tuition costs so much.

sometimes three incomes isn't enough to support a family when one "unskilled" laborer used to be able to comfortably support a family of five.

Why should we accept the fact that full time at minimum wage can't afford to rent an apartment anywhere in the United States?

Tax money that goes to loan forgiveness for upple middle income people is tax money that can't be spent on decreasing the wealth gap, and in fact will help solidify the wealth gap for anyone not fortunate enough to have a college degree (ie the vast majority of poor people).

Why should we accept that people would rather kill themselves than saddling their family with medical debt.

Why should we accept that people are forced to dangerously ration a drug that costs $10 to produce but costs hundreds of dollars at the pharmacy, with insurance?

Debt forgiveness increases the cost of things. What we need is to attack the roots of the problem - the cost. Don't give people government money to repay private businesses for their ridiculous costs. Use government money to bring the cost down.

California is developing its own generic insulin that it will sell at cost. This will force companies to lower their prices. THAT is how to attack the problem.