I’m really not trying to start a debate, I just want to understand why there is a dilemma, and how exactly it would work if passed.
In: 4
US student loan debt is held by a combination of the government itself and private banks. What would most likely happen is the government loans would just go away and the government budget would eat the loss, while they would pay the banks a reduced rate.
The dilemma is two-fold: the case is in the Supreme Court right now to decide if the President has the legal right to use the government’s money to pay for the loans while also cutting it off at a certain income level. I don’t know enough about the law to say which side I should be on, but that’s why it hasn’t happened yet. The political argument against it is basically “Why should I have to pay for other people’s college degrees?” I won’t say what side I’m on, but there are valid reasons on both sides.
Latest Answers