General Discussion
Showing Original Post only (View all)Forgiving Student Loans..... [View all]
Just heard someone say there is approximately $1 Trillion in student loans out there. He went on to say it would be that big a hit to the U.S. Economy if loans were forgiven and it would be a tax on the people that don't have loans.
But - when an individual's loans are forgiven - the money that used to be used to pay down those loans can now be channeled back into the economy in other ways that would benefit the economy. Former students that struggled to pay down their loans and still salvage somewhat of a life for themselves can now channel that money into maybe moving out of their parents houses and set out on their own. They can afford to get married. They could buy homes. They could furnish their homes. They can start a family. They can buy a better car to move their family.
All that money would be put back into the economy where supply and demand kicks in and churns the economy. More houses built. More appliances made. More cars sold. etc, etc, etc. All the while creating tax revenues that get pumped back into the economy.
To me it's a no brainer to forgive student loans. The U.S. Economy would be paid back in a big way that would pump up the Economy.
I'm for forgiving the student loan debt and the sooner the better.