Is forcing student loan borrowers to pay back the full amount they took back (plus interest) a good idea economically?Or would this multiply the effects of a recession because the lack of discretionary spending and forcibly removing liquidity from the free market. Because to me, boomers want it both ways, they want kids to pay it back in full while also ensuring that they dont experience more pain from an economic recession.The average student loan repayment is 500 per month, with a median of 200 to 300 dollars. With a total of 240 billion of potential economic activity being removed from the free market.So if GDP shrinks by 1%, that automatically assumes 1.3% to 1.4%. Meaning that every mild recession will automatically slope into a worse by virtue of the lack of liquidity.
>>61526745It'll fuck over the university system I think. Younger gens are seeing how fucked millennials were by all of this and will want no part.
All of the wealth is concentrated in the top 10%. "Discretionary spending" is just a fancy term for "slave allowance".The economic impact made by these human cattle, whether they pay their loans or not, is miniscule. Much like how retail is portrayed in the stock market, looking for table scraps. It's all to maintain the facade of adult daycare. You should know this chud
>>61526745What they should do is if you get your debt canceled, your degree gets downgraded.>PhD to Masters>Mastets to Bachelors>Bachelors to Associates>Associates to CertificateIf you took out loans to get a certificate, the system would take pitty on you, but you'd have to have an asterisk next to it, legally.
>>61526745You can cancel your own debt by simply not paying.
>>61526801that just leads to a slippery slope where the only employers in America are either Walmart, Amazon, or UPS.
I got a full ride to one of the top universities in the US sponsored by US tax payers, and I only feel sorry for those who took loans to pay for it. It is a scam, plain and simple.
It’s an IQ test question
>>61526745They could have just paid it back and not created this crisis. I paid $850 a month for years while making $28,500. It's all paid off now and has been since 2017. I graduated 2009. Total $80k-ish on about $35k principal.
>>61527971What was the interest rate?
>>61527971Lol there's no way you took out private loans. 20% interest rate really?
>>61526828this would be funny but wouldn't work because as an employer I can choose to treat Bachelor's* and Masters the same*Didn't pay the toll
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