Biden administration warns of ‘historically large increase’ in student loan defaults without debt forgiveness (link)

[AgEngDawg]

Biden administration warns of 'historically large increase' in student loan defaults without debt forgiveness

Student loan default rates may spike if the Biden administration's loan forgiveness plan is blocked, a top official at the U.S. Department of Education warns.

www.cnbc.com

 

[TopHook]

losers. most of them.

 

[denn]

Block it and never let it be a possibility ever again

 

[MalO]

I would support student loan forgiveness if we revamp our education system and make college free like it is with K-12. At least the state colleges and community colleges.

If some private universities like Harvard or whatever want to keep charging tuition let them. But since they are private entities they should receive a grand total of 0 in taxpayer funding. No grants. No scholarships. Nothing. The rich kids can spend daddy's money to get their extra-special law degree.

However if we aren't going to revamp the entire system then giving out free money is just a band-aid on a seething wound. It won't accomplish anything.