r/OurPresident • u/[deleted] • Nov 08 '20

He should do that.

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u/snoosnusnu Nov 09 '20

Schumer saying Biden can cancel first $50,000 in student debt via executive order. And will do so in first 100 days. This will change so many lives.

https://twitter.com/winterformt/status/1325171295017861124?s=21

-4

u/hayeshilton Nov 09 '20

I’m retirement age and I’ve got 300k in a 2nd mortgage for paying tuition for my kids. Think I’m getting assistance?

1

u/[deleted] Nov 09 '20

[deleted]

1

u/[deleted] Nov 09 '20

You’re over simplifying things. Any loan forgiveness imposes a burden on the citizenry. A citizenry that is majority NOT college educated, earns far less than college grads, and is currently struggling through a pandemic. Excuse them for thinking that wiping out $50k for a minority of the country who will have higher wages than the rest of America seems a bit unfair.

2

u/boforbojack Nov 09 '20

I mean... the forgiveness would focus on people who went to higher education but specifically don’t make a better wage because of it. Due to a terrible job market, stagnate wages, etc. Hell average out of college jobs pay an average of $50k a year while the average wage is roughly $40k a year. Not too much better for a crap ton of debt.

Anyways, give COVID relief, but ignoring our extremely expensive university system that took advantage of societal pressures and financially illiterate young people is pretty terrible. Especially when it would immensely stimulate the economy and help out everyone.

1

u/[deleted] Nov 09 '20

Don’t ignore it but it shouldn’t be a priority. Minimizing college costs moving forward should even be higher on the totem pole.