The Next Storm

 There is no dog in this fight in my house.  I had a student loan and paid it off. I worked and saved money for college.  I contributed some of my wages towards household expenses through high school, lived frugally had scholarships, worked summer jobs and some part-time employment while attending the "U". 

And now President Biden wants to cancel $10,000 of student debt. What is this world coming to?

Some folks are going to complain that when they went to school, they didn't take out loans or paid them off. Maybe they should get a thank you note for being good stewards of their talents or buy their folks dinner or start saving for their folks' long-term care should it be necessary.

One of the reasons for the explosion of student loans has been the overuse of academic credentials as a substitute for relevant experience to qualify for entry level positions or promotions to higher paying jobs. And one of the unintended consequences of such policies was private for profit schools grew and public colleges and vocational programs supported suffered in comparison because they are supported by taxes which everybody dislikes.

This loan forgiveness should be targeted to lower income folks and to help develop our workforce to fill essential jobs.

Some folks will say this is redistributing wealth. Correctamundo but it might help redirect spending to areas like housing costs.

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