General Discussion
In reply to the discussion: I'm actually in shock about how much negativity there is coming from democrats about [View all]Withywindle
(9,989 posts)I'm 52. I went to college in the late 80s and early 90s. I had student loans and I did pay them off (there was some garnishing involved, I never did have a big enough income to do it easily, and that hurt me but I'm just glad they're gone, and they were gone before I turned 40, for which I'm grateful)
College tuitions have SKYROCKETED since then. Even an in-state public college now costs what an expensive private college cost when I was young.
I have friends in their 30s who have a loan weight equivalent to the price of a gigantic house. Interest rates are so jacked up that they can pay the original capital twice over and STILL owe. They will never be able to pay it off even though they have good jobs. They will live long lives earning a respectable middle-class income and this debt will likely still outlive them.
The rates are extortion. Young people are told they MUST do this to get ahead at all, even though a BA today doesn't mean much.
Yes, I had loans that I paid off. And yes, I absolutely want forgiveness for everyone still struggling. The entire economy suffers when two whole generations have so much of their income tied up in paying yet more money to fucking BANKS, rather than being able to spend that money in their communities. Widespread paralyzing debt isn't good for anyone but Wall Street.