LogFAQs > #934400518

Over 40%, 1.5 trillion debt will be defaulted. In fact both numbers are expected to get much higher, as time continues in USA.

So pretty much around half the people who get these loans, are screwing their credit for life. Becoming unable to get mortgages and highend credit cards, and massive car loans.

Which is a GOOD THING!

So what would happen if we forgive and paid these loans for these financial Darwins?

The people who made these loans will just take different loans and credit cards they can't pay, while the banks and loan companies get all the forgiveness money, plus extra from these same Darwin's NEW debt they irresponsibly take and can't afford to pay back.

You really think some future Social Justice major who agreed to a $90,000 loan with interest towards the heavens, is ever going to make smart life decisions when it comes to money?

Why don't we do something smarter.

Loan forgiveness and free college for STEM and Agriculture degrees only.

If someone wants to pay $60,000 to learn liberal arts, why should anyone else have to pay the bill when they make nothing from it, and contribute nothing useful back to society?

If they want to do loan forgiveness/free schooling. Government should ONLY pay for education that leads to needed jobs and a better workforce. Not the classes colleges use to scam new age day dreamers and slackers out of all their money.

See how many people take the scam courses if the useful ones are the only free ones.