What’s behind student loan forgiveness?

The only possible legitimate reason for the federal government to forgive $10K per outstanding student loan is because the government is guilty of being complicit in the runaway costs of higher ed.

The Feds guaranteed the loans and then turned a blind eye when schools abused the low-eligibility money. If that sounds familiar, think about what started the Great Recession in the first decade of this millennium.

The total cost to our national debt for a one-time partial school loan forgiveness, best guess, would be $500 billion ― a third of the $1.6 trillion student debt that they/we are holding.

For obvious reasons, well-handled government loans are a good idea, such as FHA loans, but because there is no collateral for student loans ― only a person’s signature promise ― the government must have a strict oversight process in place toward borrowers and receivers.

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