According to the US Federal Reserve, student loan debt in the country reached nearly $1.74 TRILLION in 2021.
Because of this, lots of people (including some politicians) think that student debt (whether it be all of it, $50K for each borrower, or even just $10K for each borrower) should be canceled. Personally, I am also in this camp.
But there are also people who (wrongly, IMO) think that student debt should NOT be canceled and we should all just keep paying 'til we keel over. Here are some of their arguments:
3. If other (richer) people were able to do it, you should be able to do it too:
Millennials, quit whining. I paid off $150,000 in student loans and own a $400,000 home, because I SAVE. It’s not that hard. I -Make coffee at home -Bus instead of Uber -Shop sales -Had parents pay off my loans & buy me a house because I’m daddy’s special boy -Got Hulu with ads
4. You can always just move in with your parents and give up all the things that give you joy — or, y'know, just be lucky enough to be born wealthy:
Also: try harder to be born wealthy! Avoid financial disasters—like your parents losing their jobs, or someone in the family fighting cancer. Make sure you have a rich uncle who can bail you out if you run out of money! Https://t.co/LDwB0f2PqQ
5. Wanna pay off your debt sooner? Just raid your retirement fund!!! (Assuming you even have one):
The privilege of raiding your retirement fund to pay off your student debt. These cheap bastards want you to die in the gutter
7. Seriously, would that really be fair?
My grandmother died of cancer. Would it really be fair to cure cancer now after so many people have died from it?
9. Besides, it's not like other people are getting their debts forgiven...right???
Lol this u bro? Https://t.co/GXqyuXcUAH
10. And hey, shouldn't the people who paid off their loans get some money back too (even if they wen't to college when classes were $10 a credit)?
buddy you went to college in like 1905 sure you can have your $2.36 back https://t.co/6f1WsrSFrQ
12. Or started saving early (aka the millisecond you were born):
The America dream: Children gathering scrap metal in the hopes of affording education. Https://t.co/uQsza5MyTk
13. Plus, if we cancel student debt, that means all the undeserving trust fund kids will get their debts canceled too:
I love how the people who are against canceling student debt always base there reasoning against it on that they don't want "rich kids getting their student debt canceled" Want to know a secret? RICH KIDS DON'T HAVE STUDENT DEBT.
14. And if you just pay, and pay, and pay, eventually they'll get paid off anyway, right?
I borrowed $38,876 for school from one private lender. Since graduating, I’ve paid that lender $31,501. How much do I still owe them? $47,023
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