Cal Trask wrote:patogordo wrote:Archangel wrote:old news
--LinkRemoved--At present, the program forgives outstanding debt for borrowers who make 20 years of timely payments - 10 years if they work in the public or nonprofit sector. But eligibility is limited to borrowers approved since October 2007. The Obama plan would extend forgiveness to those who took out loans before that. And it would render debt tax-exempt. It's a sweet deal - except to taxpayers.
I really hope this is passed. Do you think this would cause legislators to create a greater amount of pressure on schools to stem the rapid increase in tuition?
You know, you'd hope for that since we know tuition costs are out of control but have just been allowed to stay that way because it's easy to shift debt on to young people. But, since the ridiculous cost will be mitigated by being spread across a much larger taxpayer base, I'm guessing probably not. Just hoping they don't manage to put a cap on debt forgiveness without addressing insane tuition increases first though.