(02-05-2021, 05:12 PM)HURRICANE!!! Wrote:

(02-05-2021, 04:59 PM)StroudCrowd1 Wrote: Just so I understand,  you are suggesting that anyone who has their student debt "forgiven" stop paying into social security (assuming they are even employed), in lieu of not being eligible for social security when they retire?

How would the responsible adults who paid off their debt be rewarded? By being allowed to collect their social security when they retire?

Lot of moving parts here. Lets cut to the root of the problem and put some of the accountability back on the schools.

Wait, I thought the college graduate was going to continue paying into SS just as everyone does but their retirement income will factor in the amount of debt that was forgiven.

Here's my interpretation --> Retirement benefits are based on the average salary for 35 years.  As such if someone averaged making $75,000 per year and was expecting a $2,000/month retirement BUT ALSO HAD A $30,000 debt forgiven, that $30,000 would be applied as a credit deduction to the monthly retirement income of that person.  (e.g. person only receives $1,800 per month until the debt is paid off) --- may need to also factor in the cost of money as $30,000 today may be equivalent to $15,000 by 2055.

Our government can't figure out how to efficiently get stimulus relief to it's citizens and you think something like this is going to happen? lol

I know the thread was hypothetical, so it's an entertaining thought, but let's get real. Not a single mention of holding the schools liable. Everyone wants to address the symptoms and not the underlying problems.

On a side note, why stop at student loan debt? I know plenty of people who made mistakes when they were younger and ran up serious credit card debt with 10x the interest rate of a student loan. Should that be forgiven as well?

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