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The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers (www.businessinsider.com)

submitted 1 year ago by Girlparts@kbin.social to c/news@kbin.social

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The Supreme Court ruled Biden's student-loan forgiveness is illegal, meaning borrowers will resume payments without debt cancellation this year.

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[–] DarkGamer@kbin.social 10 points 1 year ago* (last edited 1 year ago) (12 children)

Biden's loan forgiveness would have disproportionally benefitted the wealthiest Americans and acted as a wealth transfer upwards.

If the problem is that higher education is not affordable, a one-time debt forgiveness does not solve the problem, and it seems a lot like, "I got mine," then pulling the ladder up. I'd much rather we make higher education free for everyone like they do in Germany, permanently solving the problem by making higher education accessible to every American.

[–] axlc@kbin.social 6 points 1 year ago (2 children)

These two ideas you present aren't mutually exclusive. Thinking that they are is limiting.

Example: "Oh hey, yeah the current system is predatory and unfair. [Bam, loans forgiven.] Also, because of that injustice, we never want to put anyone into that position again [Bam, affordable higher education]." Do the rich get "more forgiveness" than the poor? Yeah, that's not really a problem if 100% == 100%.

I get that the rich people who pulled up the ladder after getting a cheap college education feel that loan forgiveness is cutting into their earning potential. But the needs of the rich do not and should not outweigh the needs of the many.

[–] BraveSirZaphod@kbin.social 5 points 1 year ago

I really don't think it's the rich that are driving a lot of the opposition to this. I'm originally from a very poor rural Missouri town where the vast majority of people don't go to college. As you can imagine, they're not huge fans of the idea of subsidizing loans for people who are statistically going to go on to make significantly more money than they are anyway.

[–] Aesthesiaphilia@kbin.social 1 points 1 year ago

Also, because of that injustice, we never want to put anyone into that position again

I have literally never seen anyone advocating for loan forgiveness advocating this. Ever. It's not even on the radar.

This is pure self-centered greed dressed up as "fairness".

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