Re:Supreme Court Rejects Student Loan Forgiveness Plan
by foogazi on Friday June 30, 2023 @05:26PM
(#36542548)
> I'm sorry. I assumed you were trying to make a counterpoint and not simply naming factual information.
You are the one telling me bankruptcy has consequences
The point is school debt is specifically excluded from bankruptcy by law so people have no recourse
You ask why not forgive all debts, and my response is we don’t need to do that, if debt is enough of a burden people can file bankruptcy
Yes, there are consequences and people have to make that choice
There is no choice for student loan debt, hence forgiveness
You can’t have it both ways - there has to be an out
Re:Supreme Court Rejects Student Loan Forgiveness Plan
by bitshiftfaced on Friday June 30, 2023 @09:00PM
(#36545016)
Then the question would become: why should the system give such harsh repercussions for those who must file bankruptcy while those who get student loan forgiveness have no repercussions? What's more: those who get student loan forgiveness are much more likely to have a degree and have a higher income. In addition, student loan forgiveness applies to everyone with the debt, not just those who are in financial distress.
Bankruptcy is very different than student loan forgiveness. For example, 91% of people hire an attorney to do the bankruptcy, there are court fees, you take a huge hit on your credit score, you can't get credit, you either get put on a payment plan or you have to liquidate your assets, etc. Compared to that, student loan forgiveness is basically a freebie. When I asked, "why not forgive any type of debt," I meant it in the same kind of way that student loan forgiveness works.