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Member Since: Sat May 17, 2008
In Reply To
Late Great Donald Blake 

Member Since: Sat May 17, 2008
Posts: 7,563
Subj: Re: So how do we feel about Biden's student debt forgiveness?
Posted: Mon Sep 12, 2022 at 11:47:54 am EDT (Viewed 121 times)
Reply Subj: Re: So how do we feel about Biden's student debt forgiveness?
Posted: Fri Aug 26, 2022 at 06:55:34 pm EDT (Viewed 161 times)

    "dramatically simplifies the scenario and doesn't differentiate between state colleges (that already get large government subsidies) and private non-profits (that get smaller government subsidies), and for-profit schools, this last one being by far the most predatory. All of these types of schools price differently. Also, how much in loans the government is willing to take on is impacted by how much it forgives as the government has finite resources and you can't act as if one doesn't affect the other."


    LGDB: this is a distinction without a difference. Nothing I'm saying here hinges on their being a difference between private, state, ivy league, etc. colleges. They DO price differently and they do get different level of subsidies and they have various other economoc considerations as with endowments. Those differences have nothing to do with whether the government not collecting debt it owns will incentive schools to increase their prices. Not to mention that the government if it was so inclined could actually put price caps on colleges who accepted subsidized tuition. That's a radical solution no one should expect, but the idea that debt forgiveness correlating to increased tuition costs automatically is specious.

    Also this doesn't dramatically simplify anything just because I didn't include details or divisions you find interesting. They don't run counter to the point I'm making. And I'm not saying doing this won't affect what else the government does in terms of future loan guarantees. I hope it does. What I'm saying that whether the government forgives these loans doesn't have an inflationary effect on college prices. This doesn't in anyway incentivize them to raise their prices anymore than or as an add on to the original lending or guaranteeing did.


    Well, even before this, Biden had stopped interest from accruing on loans and deferred having to pay back the principle on loans during the entire time he's been in office. That's already huge for those people who have loans.


    LGDB: yes that's helpful. You'll always be able to find marginal boons or relatively beneficial things especially from the liberal party. The question is how do you determine the difference between whether it's enough? And it's not enough how to create the kinds of political pressure to get to enough. That's how this happened. This debt wasn't forgiven out of the beneficence of our esteemed POTUS. It happened as a response to political pressure.

Sure, but isn't that how all politics work? If it is enough depends on what the end goal is to the person asking the question and the problem to be addressed right?

The whole problem is hardly gone but the measures taken have real impacts which is something. However, many of the underlying problems remain.

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