Should we forgive all student loans?

So this page is going around Facebook: "A rising tide does, in fact, lift all boats – forgiving student loan debt, rather than tax cuts for corporations, millionaires and billionaires, has a MUCH greater chance of helping to rise that tide in a MUCH shorter time-frame. …" It goes on to state that there's a bill in Congress – H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus. In fact, this bill is something less than it appears. It's a resolution "expressing the sense of the House of Representatives that Congress should cut the United States' true debt burden by reducing home mortgage balances, forgiving student loans, and bringing down overall personal debt." No doubt, the existing student loan system is an abusive system, designed for the taxpayers to underwrite private schools' predatory practices, but signing a Facebook petition to support a resolution won't change a thing.

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2 Responses to Should we forgive all student loans?

  1. Dale Ellison says:

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  2. loan says:

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