General Discussion
In reply to the discussion: Forgiving Student Loans..... [View all]delisen
(6,042 posts)tax credits if fairness is presented as an obstacle.
the student loan business was capitalism on steroids. Loans should have been focused on older students able to make concrete investment decisions.
Instead they were marketed to hundreds of thousands of 17 year olds who in many cases were not prepared for what they were signing up for.
Reminds me of how unscrupulous army recruiters used to sign up Army recruits years ago.
The beneficiaries have been college administrators, college presidents making multi-million dollar salaries (whole new class of 1 percenters), bankers, members of congress getting campaign donations, college financial officers getting benefits for steering students to private loans, and the horror stories of students victimized by proprietary colleges.
When we eat the young we have no future.