It's a hard lesson in not reading the contract for many young adults. You can take out loans for other things here and there and have them discharged, but education loans? No way, you are trapped forever. That's what happens when you have "conservatives" in government "protecting" the loaner, oh wait yeah, the government is the loaner.
President wants to forgive loans and a shitty corrupt paid for "conservative" Supreme Court decides no, but they were happy to grant the president a helluva king power recently. Far as I can see Biden could start forgiving loans today and ignore the court. What are they doing to do? Arrest him? He is the head of the law enforcement branch that the Supreme Court relies on. What the Supreme Court says doesn't matter to a president who does not respect it. They are clearly corrupt and were betting on a gRump presidency, there's no other reason for why one would even think to upend belief what was commonly held that the President could be held to a standard. Just forgive the loans, I say. F**k the Inferior Court.
Education Loans are debt and not the easiest to understand one either. Giving young adults this kind of debt is really stupid since young adults are stupid, naive thinking it is free money. I was never the one to think that 😜 considering I actually did the paperwork myself which forced me to read about what the hell is this stuff (do you even know what a Master Promissory Note is?). I understand why people want to tear that shit down and just make school free. It's just easier for young adults to understand. What's the point in putting them in debt if most of them will be in debt and will do shitty work just to get by.
Financial stress is a burden to social mobility. I'd like to believe that the rich will be eaten if they don't feel their responsibility in all this. Happy times are over for them.
The first step to fixing this mess is getting rid of the idea of non-dischargeability. If it were capped for some years ok, but no cap like it is now? f**k you. Many people are trapped into debts spanning 20yrs or more. You have to wonder if those people die then what does the government do with those loans? Send to collections? Again, go f**k yourself. Even if they didn't want to cap it, cap the maximum amount the note is worth to not incentivize this bs. This should not be an infinite money glitch for some greedy a** capitalist.