How Does Loan Forgiveness Actually Work? (No politics)

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Is tax money used? Is anyone profiting from the program? Do colleges lose money? Please don’t make this political. I’d genuinely like to understand without all the talking point bullshit.

In: Economics

14 Answers

Anonymous 0 Comments

A bunch of people who agreed to do work for society are no longer on the hook for it, and the rest of us have to fill in the gap. Which is especially interesting during a time where goods and services are already hard to come by for the average person. Compounding the issue is that the people who are being forgiven are already more well-off than the people who will be paying their bills, so it also serves to widen the divide between the rich and the poor, not lessen it.

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