Today, President Biden announced that the administration will be moving forward with a debt relief plan.
Eighteen months ago, I shared my thoughts on student loan forgiveness. I think it offers a fair, balanced, and empathetic take on the proposal. In the midst of all the heated and chaotic dialogue taking place today, this post may offer a new perspective on the root cause and possible long-term solutions to student debt problem.
“The argument here isn’t that student loan forgiveness should not be offered to those in need, but rather that whatever action is taken should serve to empower the recipients. Everyone deserves the opportunity to recognize and correct a past mistake or misjudgement. However, being handed $10,000 or $100,000 with no strings attached will not achieve that, and will only serve to indemnify debtors and create a consequence-free environment where we need not read the fine print.”Why I Am Against Student Loan Forgiveness — existential ergonomics