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this post was submitted on 30 Jun 2023
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Why does this make it harder for the poor to access higher education? A debt forgiveness will make current debtors less burdened but will probably make it more expensive for new applicants. Isn't it the other way around?
Relieving debt for the poor would allow them to spend their money on other things, or save it. Best case scenario, they're able to support their kids' educations and help break the generational cycle of poverty.
Chances are loan forgiveness would push a conversation regarding tuition fees in general, and would ultimately make university free / affordable instead.
Maybe.
There is 0 chance that would happen with our current political climate.
Well, around 20 states right now offer free community college if you’re a resident through first/last dollar programs. Meaning, they will cover the costs after any other financial aid. Other qualifications vary.
Some States schools offer debt relief if you hold a regional residency for X-years (usually 5) after graduation. So for example, if there’s an area of a State that needs more investment (like Upstate NY versus Downstate), these programs are designed to increase GDP and strengthen the talent pool.
Of course, you can get a tuition waiver in like half the states if you’re over 60. 🙄
I’m not saying any of this is ideal by any stretch if the imagination. Just saying there’s some headway here and there in terms of precedent for tuition-free college education.