I still don’t understand why _student_ loans in particular are being forgiven (paid of by the government). What about home loans? Car loans? Credit card debt? What makes student loans worthy of forgiveness that others aren’t?
It is an investment in the future. Education is the silver bullet. I don't really understand why this is so hard to grasp for people. Perhaps its because the pay-off isn't in the next quarter, or year, or even 5 years.
But over 5, to 10, 20 years - the payoff is immense.
Education is obviously important. Making school less expensive for everyone would be great. I just don’t understand why of all those that have ever or will ever borrow, current borrowers get this pay off. Why are they special?
> What makes student loans worthy of forgiveness that others aren’t?
It's not about worthiness per se. More than 90% of student loan debt is held by the federal government, and that's why the federal government has the ability to forgive student loan debt. The federal government doesn't have the authority to forgive other debt.
This is being done by executive order because Congress is largely gridlocked, so executive action is pretty much the only action in town (Washington).
