Federal Student Loan Forgiveness
I believe that people who put themselves through college by obtaining a student loan did not go to college just to socialize. They went to college under the belief that they would have more job opportunities and be able to make more money throughout their lifetime with a college degree than without.
It's called taking a gamble. People gambled that a degree would earn them more money in their lifetime, enabling them to pay back their student loan and live comfortably (or better).
For some people that didn't work out. Some found that their college cost so much they will be making large loan payments for a very long time. Others found that their employment opportunities and salaries were not what they expected once obtaining their college degree. These people are finding it hard to repay their debt.
I feel for people who are living under a crushing debt. I have felt that way myself at times in my life. However, my family's obligations were and are just that - obligations that we took on voluntarily. No one stepped in and offered to pay them for us, nor did we expect anyone to do so. The same is true for those of you with student debt. You went with the hopes of better job prospects and more money, and went into debt to accomplish that.
I resent that the federal government wants to forgive student loan debts. I did not take out any loans for people desiring to go to college. I did not force anyone to go into debt to go to college. I'm sorry if the hopes and dreams of a better life with a college degree didn't pan out for some people, but that was their gamble and doesn't make their debt my responsiblility or the responsibility of the American people.
Now we get to the real reason the Feds want to forgive student loan debt. The banks that loaned the money are at risk of losing a lot of money if a large number of students default on their loans. If you have been paying any attention to the actions of the Biden administration, you know that they are big on lining their pockets and the pockets of executives in large corporations. I don't believe the feds really care about the affected people, but the banks are another story. Well, I don't care about them, and whether or not their loans are repaid is also not my responsibility. The government didn't step in and save my business after we struggled through the aftermath of the crash of 2008 and succumbed in 2011, so the banks should have to deal with this on their own. They have to be making a lot of money - have you seen the interest they charge for loans? Have you compared it to what they are paying you to deposit your money?
To those of you with large student loan debts I say "Good luck!" I hope everything works out for you the way you hoped it would. To the banks I say you took risks and if you lose out that's business. Neither of you should expect or receive money from the feds to alliviate your problems.