(08-25-2022, 09:48 PM)EricC85 Wrote: I still think if your going down this road it should be tied to social security.

If you write off or cancel 20k in student loans deduct 20k from social security paid to that individual at retirement. That would lighten the demand on social security in the future, provide this "relief" they're claiming is needed and not cost the tax payers anything long term. Think of it as an advance on social security applied to their loans. In reality most of them won't see a dime of social security but pay into it most of there working lives anyway.

But the way it's being done now, hard no bad idea. And I have student loans I'm paying on. It'll cost me more in inflation then they're forgiving in the long run.

20k now is not the same as 20k 30 years from now.  We'd need to take all the cola adjustments for the next 30 years as well.  20k right now is the same as about 80k 30 years from now if we average 5% inflation.   

And another point- if, as you say, most of them won't see a dime of social security, how are we making up for this expenditure by taking their non-existent social security?  

I agree with you overall- hard no on writing off student loans.  Very bad idea.  It adds to inflation, and rewards irresponsibility.

In the words of Kimberly Strassel in the Wall Street Journal:

"In the name of paying off that powerful voting bloc known as “overeducated and underemployed deadbeats,” Mr. Biden is dumping on his own inflation message, dividing his party, and insulting any American who has ever worked, saved or paid a bill."

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