I would not characterize the student loan debt forgiveness as “reform” – and reform is what we truly need. I agree with Rikki that these students were “done wrong by”, but so many others were, as well – and those who scrimped and saved and worked and paid back (or avoided) loans receive nothing, even though they were also a part of this system. I completely agree with the “frustrated parent” who “did the right thing” and “saved [his] money”; Ravi’s suggestion that this argument is “this [is] the sacrifice I had to make, and now everybody has to make that sacrifice” does NOT apply here – I would welcome forward-looking measures to improve the situation for the next generation – even if I am unable to utilize the benefits myself – but it is fundamentally unfair to apply these benefits retroactively, to only some who were affected. Students voluntarily took on these loans, and while I agree that there was unfairness in that system, this measure does not fix that. The money would be better spent trying to solve this problem for future students.
Having said that, I do empathize with these students’ plight, and I do not necessarily object to the idea of helping them out (I’m just not convinced that throwing money at them is the correct measure). I actually really like the idea of public service in exchange for debt forgiveness – or, as Ravi discussed in this show, not necessarily just public service, but also work in other important and understaffed industries.
I would not characterize the student loan debt forgiveness as “reform” – and reform is what we truly need. I agree with Rikki that these students were “done wrong by”, but so many others were, as well – and those who scrimped and saved and worked and paid back (or avoided) loans receive nothing, even though they were also a part of this system. I completely agree with the “frustrated parent” who “did the right thing” and “saved [his] money”; Ravi’s suggestion that this argument is “this [is] the sacrifice I had to make, and now everybody has to make that sacrifice” does NOT apply here – I would welcome forward-looking measures to improve the situation for the next generation – even if I am unable to utilize the benefits myself – but it is fundamentally unfair to apply these benefits retroactively, to only some who were affected. Students voluntarily took on these loans, and while I agree that there was unfairness in that system, this measure does not fix that. The money would be better spent trying to solve this problem for future students.
Having said that, I do empathize with these students’ plight, and I do not necessarily object to the idea of helping them out (I’m just not convinced that throwing money at them is the correct measure). I actually really like the idea of public service in exchange for debt forgiveness – or, as Ravi discussed in this show, not necessarily just public service, but also work in other important and understaffed industries.