Current Events > AOC slams people saying canceling student loan debt will benefit the rich

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Lebronwon
12/03/21 3:09:49 PM
#1:


https://twitter.com/RepAOC/status/1466799577844137990




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PatrickMahomes
12/03/21 3:10:29 PM
#2:


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Dakimakura
12/03/21 3:11:07 PM
#3:


The only privileged people come from billionaires?


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CRON
12/03/21 3:11:28 PM
#4:


I went to a high school in a well-off district and as ridiculous as it sounds, a lot of people I went to school with didn't even go to college and were given high-paying jobs straight after graduation.

Forget about billionaires' kids having debt; they don't even need degrees.

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VandorLee
12/03/21 3:11:57 PM
#5:


I hate hearing "AOC" but just typing her first name is a pain so......

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cjsdowg
12/03/21 3:15:38 PM
#6:


This is something that always make me wonder. Who are these rich kids in debt people keep suggesting this would help. I have seen this from Pro african Amemrican activist as well. Saying this would help rich white people the most.

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Trumble
12/03/21 3:16:35 PM
#7:


If that's a concern, it could always be restricted only to those who aren't rich. Whether investigating / enforcing that is cheaper than just accepting a few of them might benefit from it is another question, but most importantly, we're talking about people who squeeze millions of dollars out of the less fortunate on a daily basis. If it comes as part of making things so, SO much easier for those people... is it really the end of the world if it means a small number of rich people also get a one-off handout they proably don't need? Of course in an ideal world they wouldn't be eligible, but if it's cheaper to just let them take it than it is to go through the process of making sure they don't (keeping in mind that the money spent throughout such a process would likely also end up in the hands of the rich anyway)...

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Bio1590
12/03/21 3:20:22 PM
#8:


CRON posted...
I went to a high school in a well-off district and as ridiculous as it sounds, a lot of people I went to school with didn't even go to college and were given high-paying jobs straight after graduation.

Forget about billionaires' kids having debt; they don't even need degrees.

And what rich people are even taking student loans in the first place? Isn't there an income/asset value cap for Federal ones in the first place?
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g980
12/03/21 3:21:29 PM
#10:


billionaires are the only rich people when its convenient for a tweet
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Sansoldier
12/03/21 3:22:36 PM
#11:


I think they're trying to lump in upper middle class people into it. Still doesn't make much sense, since the better off of that group won't be in debt either.

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s0nicfan
12/03/21 3:26:25 PM
#12:


cjsdowg posted...
This is something that always make me wonder. Who are these rich kids in debt people keep suggesting this would help. I have seen this from Pro african Amemrican activist as well. Saying this would help rich white people the most.

There are studies out there specifically breaking down who holds student debt and it's overwhelmingly wealthy people.

https://www.forbes.com/sites/zackfriedman/2020/10/25/who-really-owes-16-trillion-of-student-loans/
Highest income-earners owe the most student loan debt
Highest-income households: owe 60% of outstanding student loan debt and make about 75% of all student loan payments.

Lowest-income households: owe less than 20% of outstanding student loan debt and make only of student loan payments.

Edit: it's worth pointing out that the article above also highlights that most student loan debt is post-graduate schooling debt, not undergraduate debt.

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