rockerest’s Twitter Archive—№ 20,184

I don't have any issue with college debt forgiveness as long as: - it includes a plan to handle the inevitable inflation as a result of big cash influx, and the research to back it up - it includes a plan to reverse the out-of-control tuition increases that caused this problem
Permalink On twitter.com ❤️ 2 Favorites 2022 Aug 24 Mood -3 🙁

…in reply to @rockerest
Note that these inclusions are not requirements of the borrower / person being forgiven debt. These are systemic problems, not individual ones.
Permalink On twitter.com ❤️ 1 Favorite 2022 Aug 24 Mood -4 🙁

…in reply to @rockerest
Without the former, any financial relief will be rapidly wiped out (and worse). Without the latter, this is a roundabout way to bail out big financial institutions who have made the cost of an important thing overly burdensome, and were at risk of not getting paid back.
Permalink On twitter.com 2022 Aug 24 Mood -2 🙁

…in reply to @rockerest
Right, right "but the loan servicers won't get the debt relief, how is it a bailout?" If you don't limit their predatory prices at the educational institution level, they'll continue to exploit people who - in practical terms - MUST get an education, and the cycle will continue.
Permalink On twitter.com 2022 Aug 24 Mood -8 🙁

…in reply to @rockerest
Colleges will keep raising prices (why wouldn't they? People keep paying?). Lenders keep lending money at exploitative levels and predatory rates. No one ever has to deal with it because the government forgives some of the debt so the borrower can keep paying the loan sharks.
On twitter.com 2022 Aug 24 Mood -5 🙁

…in reply to @rockerest
The "bailout" is that the loan sharks keep getting paid in the future and can keep doing whatever it is they do now. The solution here is to fix the education-financial system so borrowers aren't kept in this repressive cycle and the government doesn't have to step in.
Permalink On twitter.com 2022 Aug 24 Mood -1 🙁