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9 comments

[–] LittleAnnelise 1 points (+1|-0)

Gee, maybe I should have waited instead of paying off my student loans.

[–] leaderofnopack 1 points (+1|-0)

So now the US has 40,000 deadbeats who knows they can borrow and not repay the loan.

[–] xyzzy 2 points (+2|-0)

offered credits to help another 3.6 million pay off their loans

What do they mean by credits? Loans?

[–] jobes 2 points (+2|-0)

At least 40,000 borrowers will receive immediate debt cancellation under the Public Service Loan Forgiveness (PSLF) Program

Some 43.4 million borrowers are carrying about $1.6 trillion in outstanding student loans

So...uh...how are they exactly selecting these 40,000 people?

[–] pembo210 4 points (+4|-0)

Families of congress probably :/

..debt accrued by the people that on average make more paid by general taxpayers that on average make less

paying off school debts is unfair to the people that worked hard paid their debts early by paying extra on their principle.. do they get a refund too.. no

when being responsible is penalized, why even try to be better

[–] jobes 3 points (+3|-0)

Oh I missed this in the opening paragraph:

a plan announced on Tuesday designed to aid low-income borrowers and public servants

So, gubberment make gubberment people debt go poof

[–] smallpond [OP] 2 points (+2|-0) Edited

I agree that those who worked to pay off their principal should also get a corresponding refund.

Survival-of-the-fittest arguments implicitly exclude young people born into wealth: they are freed from all responsibility. Only the poor have to worry about sinking or swimming while the undeserving rich have the world handed to them on a plate. It would be nice if the crumbs for the peasants were precisely aimed, but better this than no crumbs at all.

Edit: It's pretty difficult to do this precisely. Those who worked to save money for tuition, avoiding debt altogether are perhaps more responsible than both groups. They should be paid too?

[–] smallpond [OP] 1 points (+1|-0)

The government said it was addressing "historical failures" to communicate to borrowers all the benefits they were eligible for in federal student loan programs.

They talk cryptically about benefits that people didn't know they were eligible for. Perhaps the cancelled debts are those that wouldn't exist if people had claimed these benefits.