Well, I reject the notion that something must be retroactively fair given recent changes in our economic system. Furthermore, the position of student loan companies in comparison to other lenders in dealing with borrower default and hardship has been greatly privileged by law.
Some people feel an obligation to repay personal debts. Even if it means going hungry. Or without heat. Even if it means walking to work. Or having a tooth pulled rather than filled. Some have a diffrent work ethic. I don't think it's related to partisian politics. some just love to really own what they have..
Here's a question those against this idea
1. Are you in favour of the previous banker bailout, or the upcoming banker bailout, and if so, why?
2. If not, what's your suggestion for a strategy to deal with the economic collapse?
There are a lot of good points being raised in this discussion, but every time I see an anecdote citing "I chose where I could go to college based on what I can afford and everyone who went to an expensive school deserves to pay through their nose" smacks of sour grapes and not any kind of rational policy analysis.
How is anyone who paid less for college being uniquely punished? You are not paying back more on your own debts. People who haven't even *gone* to college would also be paying a part. If we're going to get righteous indignation, shouldn't it be on behalf of the people who never even WENT to college?
Really, truly, the "I made wise financial decisions so I don't want to help anyone else!" line of reasoning is condescending to anyone who took out loans to pay for the education that they wanted.
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