Exactly except for one thing - the welchers ran up debts of $100,000 to $200,000. So the $10,000 is a fraction of the loan albatross left hanging around their necks.
I agree with you. I paid off my student loans back in the early 1990s. The entire GSL system encouraged universities and colleges across the land to inflate their tuition rate. When inflation was at a low and stable rate, the universities were still continuously jacking up tuition costs. I watched and I was aghasted by it. To me there was no explanation for it. At the time, one could estimate that universities inflated their rates 5 to 10 times the national inflation rate. Someone was getting rich off this and the students were left with increasingly high unforgivable loans. I say unforgivable because Congress made this so. It is the only loan to which bankruptcy is not permitted.
Biden's student loan forgiveness is unlawful and unconstitutional. Only Congress has the power of the purse, not the [p]resident. An executive order is not law and is subservient to existing law. This will be struck down in court when challenged.
Exactly except for one thing - the welchers ran up debts of $100,000 to $200,000. So the $10,000 is a fraction of the loan albatross left hanging around their necks.
I agree with you. I paid off my student loans back in the early 1990s. The entire GSL system encouraged universities and colleges across the land to inflate their tuition rate. When inflation was at a low and stable rate, the universities were still continuously jacking up tuition costs. I watched and I was aghasted by it. To me there was no explanation for it. At the time, one could estimate that universities inflated their rates 5 to 10 times the national inflation rate. Someone was getting rich off this and the students were left with increasingly high unforgivable loans. I say unforgivable because Congress made this so. It is the only loan to which bankruptcy is not permitted.
Biden's student loan forgiveness is unlawful and unconstitutional. Only Congress has the power of the purse, not the [p]resident. An executive order is not law and is subservient to existing law. This will be struck down in court when challenged.