Selfishly I'm for it. Only because my wife and I have student debt and it would make a massive impact on my family finances.
It will make a huge impact on a lot of peoples lives, and make it easier for people to introduce themselves to new, positive debt (buying a house, so to speak). Let's say you spend 500 a month paying student loans. That's 500 that potentially can be spent on the economy, and taxed. Potentially multiple times. Lots of people (I know of several) are hamstrung by their student loans, which they had to take out to get into the professional field they are in, who would be able to be far more productive members of society if this happened.
I voted no because I paid mine off already. Also, those that didn't have the means to attend college get screwed as well since those that were fortunate enough to go to college now get better jobs AND having the loans erased that they took to get there.
A friend of mine complained that "no one paid" his student loans back, why should they help these spoiled kids!! So I asked him 'how much was your student loans for?" "5883" "Mine is 28K and I've been paying it down for going on 10 years now, and i'm now at 29K" "ooh"
So damned if you do and damned if you don't. I'll be damned for wanting a better economy? So be it. Cancel the debt. Actually have a place that wants to help people. Shocking given the last 4 years, i know.
Why not give everyone a check for $25k then? Those with loans can use that to pay it off. Those without loans will stimulate the economy. Everyone wins.
Yang was saying people that didn’t go to college or paid off already should get something as well. Good idea
I'm fine with people who paid off their loans getting something, but NOT if your student loans were like 7500 bucks. We're talking about people who have to pay several thousand per year to go to college. Look at the tuition at OSU, PSU and U of O. It's about 10K a year to go to PSU (seriously!? PSU is 10K!? holy shit).
Not only that, improve the kinds of courses that are offered AND encourage different kinds of education/trades. If I could do my life over, I would've gone into carpentry or be a welder.
I went to my alma mater a few years ago, I chatted with some people on campus when I was there and they said for Financial Aid they have to allocate for like $60k a year for Tuition and Living Expenses.
Thank god I don't have kids. I could never afford to pay for their tuition. Not that my parents paid for mine.
For many, while it helps the job prospects and a career path, college is a 4 year party for many people. And you have places that charge $60k a year and then state schools that are $10k a year.
That wont work given that for a vast majority of people who want to have a career are well north of 70k by the end of it. For me, if I get to the end of my masters at some point, I'll be at near 100k.
Frankly the government needs to step in on the horrible price gouging that's going on with schools. The books. The dorms. The fees. College is horribly mismanaged and a lot of it is public schools.
