I read the draft bill and it includes forgiveness for college loans made to parents, which is worth about a quarter of a million dollars to me. I’m a Bernie Bro now! Not sure that my brother, who unlike me saved for decades to pay his kids tuition, will see things the same way.https://twitter.com/BernieSanders/status/1143185456709931008 …
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Side effect of the college loan giveaway ... everyone who’s been paying their student loans on time is now thinking they’re a sap, and everyone paying for current tuition out of savings is sure of it. Student debt and delinquencies are gonna skyrocket even higher. Yay, college!
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Forget about the fairness of college debt jubilee (for now). What I’m saying is that CURRENT debt behaviors are gonna change. It’s no longer RATIONAL to use savings for college tuition or stay current on existing debt. You’re ignoring a free call option on 2020 vote if you do.
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It is now entirely irrational to contribute to a 529 plan for college. And a word to the wise ... you can take out a PLUS loan for as much as you like, and colleges will cut you a check for “overpayment”. It’s gonna feel so good to get my PLUS loans forgiven!
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Why would things change for a plan that will most likely never come to fruition? Or are you saying that merely bringing it to the level of public debate is enough for everyone to stop acing responsibly?
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