WTH 🤷🏼♀️ College Debt
The conversation around student loan forgiveness often ignites passionate debate, especially from those who say, “Why should taxpayers bail out college debt?” But to understand this issue more deeply, we must take a hard look at what college debt really is—and what, exactly, we’re bailing out. Spoiler alert It’s not a bunch of wealthy students living large on taxpayers’ dime. In fact, the people holding this debt often owned no car, no home, had no savings, and took on student loans simply to try to get ahead. Breakdown When people criticize student loan forgiveness, they often paint a picture of privileged young adults who spent lavishly and are now dodging their responsibilities. The reality, however, is starkly different: — Many borrowers came from low-income households, were the first in their family to attend college, and saw education as a way out of generational poverty. — They didn’t own homes, didn’t drive new cars, and often lived paycheck to paych...