LogFAQs > #967545941

Canceling debt is meaningless without reform of higher education expenses. Congrats, anyone who still has a student loan gets $10,000 off. Sucks to be anyone who hasn't gone to college yet or already paid off their loans. You didn't win the taxpayer lottery.

And to be clear, I'm not against canceling student loan debt. But this is not the way to do it. It's completely arbitrary and simply rewards having loans in 2022. It does absolutely nothing to fix the underlying problem.

Canceling debt and lowering student interest rates, or dramatically lowering the cost of higher education, that would be an actual start. Just shaving off $10,000 with no legislation or price controls just means we are doing what the baby boomers did to millennials when they voted themselves tax breaks. Generation z is going to pay for it.