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There are 45 million Americans who collectively owe $1.71 trillion in student loans. And it’s no secret that the financial burden of it negatively affects the lives of many former students with education finished and unfinished, in profound ways. From mental health to home-buying, student loans are somewhat of an ever-present shadow looming over for many years to come.

But President Biden has recently given hope to many by ordering Education Secretary Miguel Cardona to prepare a report on the president’s legal authority to cancel up to $50,000 in student debt per borrower. The possibility of Biden forgiving student loans has surely ignited a heated debate on this sensitive, and often sour subject matter.

And while for many American borrowers, the prospect is more than just politics, giving a sense of long-awaited salvation, others have expressed arguments against it. They claim that simply wiping clean the debt is not a solution for the economy and equity. Which side are you on? Hit us in the comment section below!

#1

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Ray Martin
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I could be wrong, but this really seems like some sardonic irony, and the poster clearly knows that's how any society is meant to function, but that of the U.S doesn't.

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#2

People-Against-Cancelling-Student-Loan-Debt

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WilvanderHeijden
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Rich kids also are never unemployed or flipping burgers with a degree in science.

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Nearly 45 million Americans now owe a total of $1.7 trillion in federal and private student loans, for educations both finished and unfinished. The scale of the problem is undeniable in terms of the effects it takes on people's mental health, quality of life, and overall wellbeing.

Now that President Biden has officially stated that he supports forgiving $10k of student loan through legislative action, many Democrats think it’s not nearly enough. Some claim the federal debt forgiveness could easily reach $50k per borrower, and some go as far as saying to erase all the amount altogether.

#3

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Sum Guy
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And americans act like joing the military was a patriotic choice when it was the only choice

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In an interview with Vox, Laura Beamer, lead researcher on higher education finance at the Jain Family Institute, said that it’s abundantly clear that “people with student debt are less likely to own a house, they’re less likely to start a business, they’re delaying normal financial life cycles than previous generations past.”

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#5

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I I
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

so much ME ME ME stopping the progression of others , USA is falling fast due to the WHATS IN IT FOR ME attitude

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For many previous generations, starting a family and saving for retirement were natural life decisions, but student loan borrowers don’t feel like they have the luxury of doing so. “We also know that people 50 and above are the fastest-growth student debt loan-accruing debt group, because they’re taking loans out for their kids or their grandkids,” Laura Beamer added.

#7

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Sonja
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Woow...so many people died in war. It wouldn't be fair to them if the war stopped now.

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#8

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I I
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

its how Republicans keep power , keep people so stupid they can't see they are getting conned by the party they think are fighting for them and not big corps

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Another crucial point about student loan borrowers is that not all loans are equal. The economist Steven Deller from the University of Wisconsin Madison argues that “There is a huge difference between someone who assumes a lot of debt and gets an MBA from Harvard or a medical degree from Columbia University, and ... a first-generation student who’s coming from a poor family background and goes into debt and doesn’t complete their degree.”

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#10

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Scagsy
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Why do so many Americans seem eager to shoot someone but if you need insulin shots, you have to literally choose whether to feed yourself or survive?

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These two individuals are words apart, and while for one, the student debt doesn’t feel like a big deal with a successful career prospect and stable financial background which comes from the family, the other is likely to carry the same burden throughout life, hoping for a cash windfall one day.

#12

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I I
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

ahhh the commy argument , fits all , social health care , socialist learning , but some how not corporate subsidies , funny how that works out

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#13

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WilvanderHeijden
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Or drastically raising the price of something while the quality and quantity diminish.

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#14

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hail beavis
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Please stop censoring words like "crappy". It's not a curse word in any language.

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Ron Santos
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This is the attitude of, “I beat my kids because my parents beat me.”

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Paul Beebe
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

AND....Cassie doesn't see anything wrong with FINALLY paying off student loan debt AT 40 YEARS OF AGE....WTF???? Your house would be paid off sooner....

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Random Anon
Community Member
2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I know people like this. And they aren't the ones with the loans either. Everyone of my friends that had student loans want free education for all. A few of us made our way without loans but graduated way later to refill the coffers in between semesters. None of us feel that is something the future generation need to go through.

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Laura Maeflower
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

This mentality comes for the fact that those who've paid off their student loans want to stay ahead of everyone else by making others struggle the same amount, keeping them behind. It's very selfish.

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Uncommon Boston
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Deal -- force the good for nothing graduates to have the same terms we did. Why not, we managed.

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#15

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Luther von Wolfen
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

The geniuses who went to college figured it out: cancel student loan debt.

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MAL
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I worked my ass off to pay mine off, too. So what? I would have LOVED to not be broke as hell until I was 35 because of student loans. If we have the power to give the next generation a better life, why the hell wouldn't we do that?

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#17

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Watching
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And yet, what is funny, is that the conservative party is the party of welfare. And low education. Republicans have their cult right where they want them.

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Jonah Denny-Mayo
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

How has political strife gotten to the point where we feel it's ok to refer to people as less than human just because they believe in different things than is? Lefties, liberals it just makes no sense how humans have lost all compassion for others.

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#22

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Watching
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Conservatives ARE lepers. We should put them on an island and let them eat themselves.

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#23

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Seabeast
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

You get "raped"? That's pretty offensive to actual rape victims, a-hole.

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#25

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I I
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

oil , gas and coal companies decided to do that for a business, but you still subsidise them , only a moron would be cool with that and not forgiving student debt

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#26

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Helen Haley
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

We spend untold money on the military. If there are soldiers sleeping in parking lots it is because their superiors want it that way.

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#28

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John Smith
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2 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

"adult children's". I'd bet that person didn't go to a private school, so maybe he should reimburse the taxpayers.

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#30

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Watching
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2 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

How do you tell someone you're racist without telling them you're a racist?

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