Should Wall Street pay off student debt

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(07-02-2019, 08:45 AM)Belsnickel Wrote: 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.


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.

About 1/2 received Scholarship benefits and many of those that don't make a commitment to the Reserves to augment their finances while participating as a Cadet. 

All of this plus numerous other "issues" such as those Enlisted that paid into Montgomery GI Bill, those that receive scholarship benefits of Post 9-11, those that Enlisted for student debt payback, the uneven playing field it puts those that couldn't go to college because of financial situations, the family that saved their whole lives to put a kid through school, the kid who practiced hours while others played video games to earn a scholarship, the kid who worked full time to put him/herself through school are just a few reasons I follow more along the mentality of someone like Amy Klobeshar instead of Bernie Sander. It's just not realistic; but it sounds great if you owe around 40,000 for school