Should Wall Street pay off student debt

[Belsnickel]

(07-01-2019, 08:53 PM)bfine32 Wrote: I think those that are in the Reserves would take the deal more than those on Active Duty, but consider the ROTC Commissions +/- 6000 ROTC Cadets per year and multiply that by the 8 year Commitment, you are hypothetically talking about 48,000 Officers. Let's go l,ow and say 10% took the deal What is your plan to fill the void of 4800 Commissioned Officers? 

How many of those roughly 6000 were on scholarship, though? Since getting your butter bars doesn't require being on the scholarship path, what is that percentage? How many of those officers would need to be replaced? Especially in the reserves? The surface level analysis of this you lay out is a little roughshod. There is a lot more information needed in order to really dig into whether that would create an issue or not.

(07-01-2019, 08:53 PM)bfine32 Wrote: As I've said: I just cannot grasp the "fairness" of college debt forgiveness. If I were financially irresponsible and charged up huge debt at a prestigious Private school and you were fiscally responsible and incurred little debt at a state school . How is it fair that both debts large and small are forgiven. And I have the benefit of listing a much more prestigious college on my resume. 

I could maybe get behind us paying the interest on the loan or it to be discharged in the cases of bankruptcy (I get it's currently possible but not routine)

For the prestigious private schools, they really do a lot to keep their student debt figures down. They often have large endowments and provide a lot of money to their students that doesn't have to be repaid. My wife, for example, went to a private school and incurred less debt than she would have had she gone to one of the public schools she was also accepted to. The reason is because the private school had more money in scholarships to provide to her.

This, of course, isn't a blanket truism, but it is a very common occurrence. I still think it is a good thing to be done at this point to forgive student debt. There should be a comprehensive policy alongside it, though, regarding higher education funding so that the wiping of the slate is a starting point.