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The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers
(www.businessinsider.com)
this post was submitted on 30 Jun 2023
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Re: Congress, just to comment on the political reality, I think people often lose sight of the fact that only 53% of the country has a college degree, and of those that don't have degrees, you can probably guess their general political leanings. Congressional Republicans who are disproportionately representing people who didn't go and don't care about university education are unlikely to want to vote to further pay for the loans of people who are statistically going to go on to make significantly more money anyway, and their constituents certainly don't want them to.
I think there are decent economic arguments to make in favor of forgiveness, but the opposition isn't coming from nowhere. People without degrees are financially struggling as well, and the plight of tech workers isn't going to be very persuasive.
Loan forgiveness would have helped a lot of people who didn't go to college. People who did not finish their degrees and parents who cosigned on loans were two big benefactors. The blatant hypocrisy of forgiving the PPP loans but then objecting to this forgiveness is what stings the most to me.
I get the hypocrisy, but from a legal perspective, PPP loans were explicitly authorized by Congress. This wasn't.
This isn't as much of a class thing as you think it is. Upper middle class and rich people with college degrees don't have student debt because their families paid for their college tuition. People from lower middle class and working class families have student debt.
Mathematically the same thing.
It's not about where people came from, it's about where they're going and where they are now. Statistically, people with a degree are much wealthier than those without. There are actual poor people who need the help much more.
What is this focus on tech workers? This program would have benefit 1 in 8 Americans. This isn't just tech workers.
Probably because the fediverse is disproportionately used by tech and tech adjacent workers.