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There are 45 million Americans who collectively owe $1.71 trillion in student loans. And it’s no secret that the financial burden of it negatively affects the lives of many former students with education finished and unfinished, in profound ways. From mental health to home-buying, student loans are somewhat of an ever-present shadow looming over for many years to come.

But President Biden has recently given hope to many by ordering Education Secretary Miguel Cardona to prepare a report on the president’s legal authority to cancel up to $50,000 in student debt per borrower. The possibility of Biden forgiving student loans has surely ignited a heated debate on this sensitive, and often sour subject matter.

And while for many American borrowers, the prospect is more than just politics, giving a sense of long-awaited salvation, others have expressed arguments against it. They claim that simply wiping clean the debt is not a solution for the economy and equity. Which side are you on? Hit us in the comment section below!

#1

People-Against-Cancelling-Student-Loan-Debt

burgerdrome Report

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Ray Martin
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I could be wrong, but this really seems like some sardonic irony, and the poster clearly knows that's how any society is meant to function, but that of the U.S doesn't.

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#2

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Jaybefaunt Report

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WilvanderHeijden
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Rich kids also are never unemployed or flipping burgers with a degree in science.

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Nearly 45 million Americans now owe a total of $1.7 trillion in federal and private student loans, for educations both finished and unfinished. The scale of the problem is undeniable in terms of the effects it takes on people's mental health, quality of life, and overall wellbeing.

Now that President Biden has officially stated that he supports forgiving $10k of student loan through legislative action, many Democrats think it’s not nearly enough. Some claim the federal debt forgiveness could easily reach $50k per borrower, and some go as far as saying to erase all the amount altogether.

#3

People-Against-Cancelling-Student-Loan-Debt

kyry5 Report

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Sum Guy
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And americans act like joing the military was a patriotic choice when it was the only choice

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In an interview with Vox, Laura Beamer, lead researcher on higher education finance at the Jain Family Institute, said that it’s abundantly clear that “people with student debt are less likely to own a house, they’re less likely to start a business, they’re delaying normal financial life cycles than previous generations past.”

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#5

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Elizabeth_91 Report

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I I
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

so much ME ME ME stopping the progression of others , USA is falling fast due to the WHATS IN IT FOR ME attitude

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For many previous generations, starting a family and saving for retirement were natural life decisions, but student loan borrowers don’t feel like they have the luxury of doing so. “We also know that people 50 and above are the fastest-growth student debt loan-accruing debt group, because they’re taking loans out for their kids or their grandkids,” Laura Beamer added.

#7

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Milan
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Wow, slavery must continue. It is unfair for all past slaves...And this stupid example you can put on anything innovative...

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#8

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I I
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

its how Republicans keep power , keep people so stupid they can't see they are getting conned by the party they think are fighting for them and not big corps

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Another crucial point about student loan borrowers is that not all loans are equal. The economist Steven Deller from the University of Wisconsin Madison argues that “There is a huge difference between someone who assumes a lot of debt and gets an MBA from Harvard or a medical degree from Columbia University, and ... a first-generation student who’s coming from a poor family background and goes into debt and doesn’t complete their degree.”

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#10

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Hux0021 Report

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Scagsy
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Why do so many Americans seem eager to shoot someone but if you need insulin shots, you have to literally choose whether to feed yourself or survive?

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These two individuals are words apart, and while for one, the student debt doesn’t feel like a big deal with a successful career prospect and stable financial background which comes from the family, the other is likely to carry the same burden throughout life, hoping for a cash windfall one day.

#12

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I I
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

ahhh the commy argument , fits all , social health care , socialist learning , but some how not corporate subsidies , funny how that works out

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#13

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WilvanderHeijden
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3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Or drastically raising the price of something while the quality and quantity diminish.

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#14

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victorthigpen24 Report

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hail beavis
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Please stop censoring words like "crappy". It's not a curse word in any language.

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#15

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Luther von Wolfen
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

The geniuses who went to college figured it out: cancel student loan debt.

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#16

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MAL
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I worked my ass off to pay mine off, too. So what? I would have LOVED to not be broke as hell until I was 35 because of student loans. If we have the power to give the next generation a better life, why the hell wouldn't we do that?

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#17

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Watching
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

And yet, what is funny, is that the conservative party is the party of welfare. And low education. Republicans have their cult right where they want them.

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#20

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Jonah Denny-Mayo
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

How has political strife gotten to the point where we feel it's ok to refer to people as less than human just because they believe in different things than is? Lefties, liberals it just makes no sense how humans have lost all compassion for others.

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#22

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willchamberlain , jennarmathias Report

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Watching
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Conservatives ARE lepers. We should put them on an island and let them eat themselves.

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#23

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#25

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I I
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

oil , gas and coal companies decided to do that for a business, but you still subsidise them , only a moron would be cool with that and not forgiving student debt

M O'Connell
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Not to mention how much government cash subsidizes corn and soybean production to keep the costs of meat low. Hugely subsidized cheap meat is a main component of the diets of the people who can least afford the healthcare implications of such a diet. I wonder which particular crop of rich people benefit most from those policies.

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Monday
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I did not co-sign for military activities, did you? So, why should we pay for them? You decided to start a war? You pay it.

Izzy_
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

The level of selfishness in this country is appalling

ARandomPerson
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

this is why other countries are better than america. DENMARK HAS FREE FREAKIN UNIVERSITY. THE SYSTEM OF AMERICA IS DESIGNED WHERE IF YOU ARE BORN POOR, YOU STAY POOR. IF YOU ARE BORN RICH, YOU GET RICHER. IN DENMARK YOU CAN BREAK THE F*****G CYCLE IF YOU TRY HARD ENOUGH.

Uncommon Boston
Community Member
Premium
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I did not agree for any of my tax money to benefit you. Pay your own way

Grumble O'Pug
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Funny I didn't sign on for Billion dollar defense budgets. You probably aren't paying attention.

Jonah Denny-Mayo
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I love how the picture is someone leaning on someone else like this is some inspirational quote that will change our lives.

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#26

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Helen Haley
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

We spend untold money on the military. If there are soldiers sleeping in parking lots it is because their superiors want it that way.

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#28

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John Smith
Community Member
3 years ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

"adult children's". I'd bet that person didn't go to a private school, so maybe he should reimburse the taxpayers.

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#30

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#31

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Watching
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

How do you tell someone you're racist without telling them you're a racist?

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#32

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madamemodest Report

#33

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blupanan Report

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Watching
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Oh Lord these right wingers are grasping at straws as they go down in flames.

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#34

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#35

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Pungent Sauce
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

That’s about 666 avocado toasts a month if you make them at home, or 9 pieces every hour. Seems a tad exaggerated....

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#36

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M O'Connell
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'd be willing to bet Blake has an MBA. The majority of those people are pricks.

#37

People-Against-Cancelling-Student-Loan-Debt

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#38

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#39

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#40

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#43

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#44

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#45

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shanselman Report

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Viktor Feurer
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Every dollar spent on education generates at least 15 dollars. Free education is the best investment to the future of a nation.

#46

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newbury_eric Report

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BlackPearltheSeaWing/NightWing
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

*You're This person needed to go to college if they didn't. Then maybe they would be on the sensible side too.

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#47

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#48

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M O'Connell
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I'm 33. I've been to a grand total of 4 concerts in my life. I've visited a bar less than 5 times ever. I haven't watched a movie in a theater in the last 3 years. My primary car is 19 years old. I spent $0 on clothing last year. I manage my money very carefully, and so do many other people my age. I think it's ironic that you tagged a structured settlement law firm. Those firms exist to bilk desperate people. They're part of the problem.

#49

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#50

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#51

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#53

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#54

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#57

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M O'Connell
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I've always wanted to ask someone like this what they believe the "endgame" of that agenda is.

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#60

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Stacey Davis
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

The education of the people in this country benefits the whole country. My skills from my education and my taxes benefit everyone.

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#61

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Ryan Deschanel
Community Member
3 years ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

I assume it was when everything was cheap, when anyone could buy a house which is now worth four time more. Millenials are not poor because they are lazy, they are poor because everything is frigging expensive and they are not payed enough.

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