Psaki: Student loan borrowers likely to have to pay debt 'sometime'

[LetMyPeopleVote]

149. Do you ever tire of being WRONG?

I am amused that you do not understand the concepts. Thank you for the laughs. Again, it is clear that you do not tire of being Wrong.

Your analogy on retirement was so bad that I was kind last night and left it alone. This analogy makes no sense but did amuse me. This policy appears to only apply to current debt and will not apply to persons who repaid their loans or person who incur future debt. Social security was a prospective program that applied to everyone going forward. People who saved for retirement prior to the adoption of social security still got social security benefits even if they saved for retirement. I was born well after the adoption of social security, and I have saved for retirement. Despite the fact that I have savings, I will get the benefit of social security. That is how things work in the real world. These benefits are in addition in the amounts saved. People who did not save still can get social security together with people who saved. Your analogy simply does not apply

You may want to read up on the concepts. This Forbes article may help. https://www.forbes.com/sites/zackfriedman/2022/02/04/democrats-tweet-that-student-loans-should-be-cancelled-but-twitter-claps-back/?sh=5117abf23abd

Supporters of wide-scale student loan cancellation want one-time student loan forgiveness. In a perfect world, Biden (or Congress) would cancel all, or most, of the $1.7 trillion of outstanding student loan debt. That would be a major financial relief for current student loan borrowers. However, it wouldn’t help future student loan borrowers or student loan borrowers who already paid off their student loans. That doesn’t sit well with some in the latter group. “When and if Biden does cancel student loan debt don’t forget to send a refund to past federal student loan borrowers who worked hard to pay off their loans and delayed the same things you say current borrowers are delaying because they are paying off their loans.” Student loan borrowers who paid off student loans want their student loans paid for too. Many worked two or three jobs and made other financial sacrifices to pay student loans. Will they be included in any wide-scale student loan cancellation?

Again, it will take an act of congress to adopt such a policy and I doubt that such act can be adopted unless someone answers the questions set forth above. In addition, the cost of such a program has to be addressed

Link to tweet

We need to determine if canceling student loan debt for a limited group is the best use of such funds