“We are the ones holding the bag. The Universities do not grant student loans, banks and the U.S. goverment does.”
We are holding the bag anyway.
Universities are the exclusive beneficiary of student loans. They make capital planning decision, faculty decision, administrative overhead decision based on the availability of loans to students to fund all of this.
If Student loans are allowed to be discharged, student loans will not be made to students who cannot pay them back - which will be most students in university that are financing them exclusively with loans. This will kill all marginal programs that leave students unemployable at the level that can repay extensive student loans.
“If Student loans are allowed to be discharged, student loans will not be made to students who cannot pay them back - which will be most students in university that are financing them exclusively with loans. This will kill all marginal programs that leave students unemployable at the level that can repay extensive student loans.”
Exactly. If you want to make garbage, no-job majors like [fill-in-the-blank] studies dry up and go away, this is a perfect strategy.
The universities get paid and have been paid up front. Discharging loans will have little to no affect on higher education.
We are holding the bag and that bag will be dropped on our heads if we forgive student loans, students included.
If you want to help future students limit the loan ammounts that higher learning institions can receive.
If you want to help present students have the universities pay back the student loans. As for the tax payers, we don’t have anymore to give.