Biden wants to cancel $10,000 in student loans. What's your opinion on this?

Biden voter here. I’m all for it but I think it would be better if something was done about the rising prices of college.

10k is a ton of money for people outside of the finance world and 10k reduction in debt would be huge even for people who took out 40k+ in loans because of compounding interest. You could say someone shouldn’t have paid that much for college but all spring hs seniors ask “is going to x worth going into more debt than school y?” Americans are consumers and you know most of them would spend their money on stuff now that they have less in loans. 

im from a middle class family and my fam had to sacrifice a lot to afford the 70K+ annual tuition for my school 

it just doesn't sit right with me that other families get a big bump in affording tuition but that's the life I guess...

Terrible idea. Should be geared towards poor or expand repayment plans not just give rich or upper middle class kids a subsidy. 

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He wants to cancel up to $50,000 ($10000/yr of community service, up to 5 years). You should update your title because that changes the discussion entirely. 

Voted for Biden and dislike the idea of student debt cancellation. However, I am not too worried as the Republicans already have 50 Senate seats and I cannot imagine at least one Republican winning a special Senate election in Georgia. Hopefully my lax attitude towards this issue does not come back to bite me

I am not in favor of forgiving student loans  I had to pay off over 100K of my wife's law school loans. Personally, I did not have one penny in student debt, as my employers paid for the majority of my education.   

At the same time, however, we do bail out corporations when they make bad decisions...

Public college shouldn’t cost as much as it does. Tuition increases have outpaced inflation for no reason. Has college gotten better? I would argue it has not. Now it’s a safe space void of any disagreement and dissent where no ones feelings can get hurt. Instead of canceling student loans, college costs at public schools need to be reigned in. Private schools can cost whatever they want, but you shouldn’t have to go into debt to go to State U to learn about microaggressions and pronouns.