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Lots Of People Are About To Be Mad About Student Loans.
This article may age poorly, but it’s what I believe.
Biden has yet to extend the student loan pause, which is set to expire August 31.
The anti-student loan forgiveness crowd probably wants payments to resume and to be all…mad and finger pointy and “take responsibility for your actions” etc.
But you know the saying:
If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem. — J. Paul Getty
Federal student loan debt has swelled to $1.6 trillion, meaning it is definitely the government’s problem now. No, it is not sufficient to just yell at borrowers that they knew what they were signing. This is now a societal problem.
If you wanna be mad about that, sure. It was fucked up that it was allowed happen to begin with. No complaints from me on that.
In the past two days, Biden has canceled $3.9 billion in debt for 200,000 borrowers defrauded by ITT Tech. Great. We shouldn’t let people who wanted an education get scammed by for-profit schools. I’m all about that.
