Re: Student Loan Forgivenes
s Act of 2012
07-25-2012 07:56 AM
I owe a ton in student loans, but I'm not for legislation wiping out my student loand debt or anybody else's. We borrowed it, we should pay it.
In ten years, most people have paid so much in interest that they have actually paid back more than what they originally borrowed. (I know I have)
Yeah, interest tends to cause people to pay back more than they borrowed. Interest is part of the game. It's not like anybody here signed up for a loan without having access to information about the interest rate. A lot of people have made very poor choices about borrowing money to finance educations that did not support salaries that would allow for repayment of thier loans. Would I rather see Washington bail out individuals struggling with student loan debt than banks? Yes. But, I'm not clamoring for a bailout of student loan borrowers because the government frankly can't afford it and it's more of a burden for everybody else that either didn't borrow or did, but paid back their loans as they agreed to.
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