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Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Same. I paid off my loans but I’d love it if my friends and wife had an easier time. To say nothing of the millions being dragged down by over a trillion in debt.
But I get why people who may have invested in Student Loan asset backed securities might not want student loans forgiven. SLABS may be part of 401Ks or pension plans. I think debt shouldn’t be something people can even invest in, but for those who did, I get why they oppose it. It could even potentially harm a student paying back a loan who also has a retirement account that invested in SLABS.
And this absolutely is just a band aid on a gaping wound. It doesn’t actually resolve the problem, and with no attempt to remedy it in the future, I can see it just making college access even more difficult for the less fortunate.
Biden should do everything he can to push it forward, but that is just a first step, and the people opposed to it may have some valid concerns.
Same. I paid off my loans but I’d love it if my friends and wife had an easier time. To say nothing of the millions being dragged down by over a trillion in debt.
But I get why people who may have invested in Student Loan asset backed securities might not want student loans forgiven. SLABS may be part of 401Ks or pension plans. I think debt shouldn’t be something people can even invest in, but for those who did, I get why they oppose it. It could even potentially harm a student paying back a loan who also has a retirement account that invested in SLABS.
And this absolutely is just a band aid on a gaping wound. It doesn’t actually resolve the problem, and with no attempt to remedy it in the future, I can see it just making college access even more difficult for the less fortunate.
Biden should do everything he can to push it forward, but that is just a first step, and the people opposed to it may have some valid concerns.