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The #studentloancrisis is a problem. But just forgiving some debt may help some now but may make things worse for future borrowers bc it doesn't address the root of the problem- crazy tuition hikes, interest rates 2x as high as mortgage rates, and poor underwriting. @JoeBiden
Government can help by perhaps not taxing employer sponsored debt repayment. Make student loans more easily dischargeable in bankruptcy, so lenders are more careful about underwriting. Stem the ballooning cost of higher education and regulate schools to keep pace with inflation
Make federal student loan interest rates more reasonable. Let tax payers deduct the entirety of the student loan interest they pay. So many ways to make lasting positive change that would help current and future generations be less shackled by debt.
Student loans should provide borrowers with leverage to create a better life for themselves and their families. They should not shackle them with neverending debt and 6-8% interest rates.
