General Discussion
In reply to the discussion: Should student loans be forgiven? [View all]quaker bill
(8,225 posts)I generally like the notion of free higher education, or at least very low cost.
I was fortunate enough to be able to pay for my daughter's college education out of my pocket in cash. Now I surely could have taken out loans and had plenty of offers of such each and every term. Over the 4 years I spent roughly 60k. I did not take fancy vacations or buy new cars and that made it possible.
Had I taken out loans these loans, under these proposals I would likely still have that 60k and the gains on it, and my debt would be cancelled.
I have no regrets and am happy with the decision I made, but there seems to be a matter of equity here. Financially, I am fine either way, but had I chosen loans, it seems I might be at least 60k better off than I am. I am sure that some people who are even better off than I chose the loan path to finance their kid's college education, and left their cash invested.
Should there be some limit based on wealth for this debt forgiveness?
Should people who paid out of pocket also be made whole?