Pros and Cons of Canceling Student Loan Debt
Student loan debt in the United States has reached $ 1.6 billions of dollars owed by tens of millions of people, leading to calls for its erasure, even as opponents worry about the economic and ethical consequences. Onion assesses the pros and cons of student debt cancellation.
Money, a powerful deterrent against poverty
It might be cool to live in a society where people can afford to learn things and improve
Will exasperate the baby boomers
At this point, who is going to notice another $ 1.5 trillion deficit?
Makes it easier to approve a much larger graduate loan
Millennials will gain a sense of security and self-worth
Endanger the careers of thousands of telephone debt collectors
Ability to pay for basic necessities would mean less time spent with parents
Alumni association callers will assume you have more money to spend
Teach ordinary people a dangerous false lesson that they will be treated the same as rich people