I have been doing some thinking about the Biden student loan forgiveness program, and I frankly think it is horseshit. What is the purpose of the forgiveness enrollment program? What does it accomplish other than to allow the government to withhold forgiveness from borrowers by exercising moral judgment over (a) their repayments thus far; (b) their credit and spending history; (c) the moral goodness or “public service-i-ness” of their career choices? Why do I have to send the U.S. federal government a bunch of information it already has before it will forgive some paltry slice of the enormous student loan balance I owe?
I realize that for some borrowers who, say, did not go to law school, $10,000 is significant, but an amount like that is a small slice of what the balances are like for law grads who weren’t already rich, some grad school attendees, people who went to for-profit colleges, and other undergrads who had to borrow extensively. Why should the same people who caused this crisis by creating inescapable “wage slavery” based on insurmountable student debts for absurdly overpriced education, who then sabotaged their own debtors’ ability to repay by repeatedly crashing the economy from 2008-2022, still maintain control over the accounting?
As a borrower with around 200k in (mostly law school) debt, I am strongly considering refusing to participate in the program at all, just so that it will hurt more for my abusive garbage–by which I do mean criminal–Boomer parents (who I hate for other reasons) when the loans come crashing into their mortgages and whatnot.
I’m confused by what this last paragraph has to do with the first two. If you’re out to hurt your parents, shouldn’t you refuse to participate in the program regardless of whether you think it’s horseshit or not?
I suppose what I’m really saying there is that all student debt should just be cancelled for everyone, and that those who doubt that we have the power to force that outcome, should consider what happens, in terms of political leverage, when a lot of co-signed loans are suddenly thrown at the feet of their co-signers.
We’re seriously debating whether to accept an invitation to a small veteran’s event with POTUS on Friday morning. Like, yeah, it’s the President, but also, we’re running in a purple district and just can’t be sure if it would help or hurt…
If you had asked me 6 months ago if i would turn down a chance to meet the President, I would have smacked you for being stupid. Yeah, he’s not the greatest, but it’s the President.
Also, he’s coming to San Diego tomorrow to campaign for Mike Levin. I have a ticket, but damn, that’s so much time out of my precious less-than-a-week to go that I might just skip it. sigh
Manchin literally told business leaders this week they need to do a better job demanding specific performance from politicians in exchange for campaign donations, so, not sure the current party really up to the task.
“Say, ‘listen, I’m sorry. I don’t give checks. I don’t give a donation
or contribution to any politician. But I’m willing to make an
investment,” Manchin told the CEOs in attendance. “What should I
expect from you? What are you going to do? What have you done in
your political life, and what will you do if this is your first time? Tell
me so I can make a decision on whether I want to invest in you,
because I can expect something in return.’”
