“When debt is discharged someone else is left holding the bag. Discharging student debt will cripple the U.S. economy and no sane politician will allow it.”
No. Debt is only discharged when it won’t be repaid or can’t be repaid. To the extent someone is left holding the bag, they were holding the bag anyway.
Student debt being discharged in bankruptcy will be a one-time phenomena. The only sector of the economy that will be crippled is higher education, which will be forced to actually provide value commensurate with that which they claim to provide.
Lots of university towns will be impacted, lots of professors will be forced to profess elsewhere in whatever jobs they can find.
But if you are saying that the only way to solve the student loan problem is to keep giving student loans, then you might have a career in national politics ahead of you.
Bingo! Give this man a cigar.
The Universities have already been paid. We the people who pay taxes will be crippled. Harvard will sail on.
The Universities have already been paid. We the people who pay taxes will be crippled. Harvard will sail on.
“But if you are saying that the only way to solve the student loan problem is to keep giving student loans’
Where did I say that?