Saturday, December 14, 2013

ELI5: Why Fight to have Student Loans Forgiven?

I don't understand why a lot of people want student loans forgiven. Did the government trick students into taking out loans?
It doesn't make sense to me that someone would sign something saying they would borrow money and pay it back and then get upset they have to pay it back to the point where they frame the investor as a bad person.
edit: Wow, I really thought there would be a clear cut answer, but it seems a lot of people have different opinions.
Findings:
  • Everybody thinks that it really sucks that so many kids have so much debt and most agree that it isn't entirely the students' fault as a group that they are in such a mess (economy, social pressures, etcetera).
  • Some people think if you take out a loan, you should have known the risks.
  • Others respond that kids so young shouldn't be held accountable for a mistake they couldn't possibly comprehend at the time.
  • The counterpoint to that is that ultimately, nobody forced anybody to go to college or to get a degree that has low job prospects.
  • A response to that is that kids shouldn't have been fed the myth of a degree automatically putting you ahead in the job game.
  • A big majority of people who owe student loans think their loans should be forgiven.
  • People who don't owe student loans or have very little debt think loans shouldn't be forgiven or that there might be other solutions....read more

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