Yeah, seems totally reasonable to me that people who took on too much debt, and will for the rest of their lives have a higher earning power because of it, should have their debt paid off by everyone else. This is wealth redistribution to those who didn’t pay their own debts. I’m sorry if your degree wasn’t worth as much as you hoped, but plenty of people worked through college, or scrimped during and afterwards, to maintain manageable levels of debt.
I’m not saying it’s fair, that universities upped their rates while the value of degrees dropped, but that’s the economy. Are we bailing out all the cab drivers who are hundreds of thousands in debt for taxi permits that are now mostly useless?
I have yet to see anyone even attempt to argue why this money is better spent paying of student debt, than paying off critically distressed debt among the lowest income Americans. No one. The idea that someone can increase their earning power, take on massive debt, then enjoy the benefits of that spending, without repaying the loan in any form, is morally ridiculous to me.
I say this as someone with ~$10,000 out of ~$40,000 debt on a non-profitable degree, unpaid. Don’t pay my debt. Find the families barely keeping a roof over their heads, and pay their debts (or just stop letting one senator screw the entire nation’s working class).