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Opinion | Debate over canceling student debt

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To the editor:

“Students Deserve Loan Relief” by Charlie Eaton, Amber Villalobos, Frederick Welly (Guest Essay, May 18):

Why do I have to pay your student loan? Are you going to pay my mortgage? If you really want to get rid of your debt, give a pardon to anyone who has a debt of $ 10,000 or more. I will vote for it!

We saved and paid for our son to go to state college, and he graduated without debt. The tuition fee was about one-eighth of the tuition fee of the famous private university I was teaching. And he was well educated and hired for a good job. I took some of the best classes I’ve ever taken at a virtually free community college.

Why now do I have to pay to those who are completely familiar with being deeply involved in avoidable debt? I know it’s politically valuable to tell millions of people that you’re trying to forgive their debt, but that’s not true.

Scott Hartman
San Jose, California.

To the editor:

Re “Student debt is being crushed. Canceling it is still a bad policy” (Editorial, May 15):

The reason behind a targeted cancellation rather than a complete cancellation of a student’s debt is, of course, two fundamental flaws.

First, it does not recognize what the basic characteristics of a democratic society should be. Education from preschool to higher education should be considered a fundamental right. Therefore, it should be guaranteed by our government and not subject to family or personal income.

That failure leads to a second political flaw that creates resentment and division. Of course, it sounds reasonable to help the most troubled person first. A borrower with an income of $ 100,000 will have less trouble than a borrower with an income of $ 35,000. But that doesn’t mean that high-income earners don’t consider themselves overburdened not only by debt but also by high interest rates. That leads to “Hey, how about me?” Grudge.

The inference that “help a few people because you can’t help everyone” has been a failed political strategy for the Democratic Party for decades. It’s not a healthy democratic recipe that commits to fairness and fundamental rights.

Arthur H. Cummins
New York Beacon

To the editor:

Your editorial against universal student debt cancellation shows some good points. In addition to these, he adds that student loans should be considered as an investment in the future of students. Student loans can be financially distressing for borrowers if their investment is not rewarded. This can happen if the student borrowed to start the program but later dropped out and was in debt but not a degree. Students may also graduate with qualifications that do not meet the promised labor market values.

The federal government can address these issues by scrutinizing the results of programs that offer student loans. Universities with poor performance should be punished and sometimes completely expelled from the loan program.

The “paid employment” rule proposed by the Biden administration is a step in the right direction, but exempts public and private nonprofit college degree programs. To resolve the student loan crisis, Congress must act to hold all institutions accountable for the financial value of their degree.

Preston Cooper
Washington
The writer is a researcher at the Research Foundation on Equal Opportunities.

To the editor:

I agree that canceling a student’s debt, which may sound, is not a way to solve the problem of inequality. This is a short-term solution with a huge price of $ 321 billion.

This money can be used more appropriately to support high school vocational programs to prepare students for lucrative jobs and to allow them to quickly choose another path from high school instead of college + diploma + debt. increase.

According to the Bureau of Labor Statistics, only about 62% of high school students go on to college and about 40% of those who go on to college drop out. So why encourage students to get a college degree, as if this were the only way to personal and financial success?

Most high schools have a curriculum that prepares students to go one way. It’s a university. To make things truly fair, we need to create more choices in high school. That way, there are other plans besides college and debt.

Deirdre Higgins
Los Angeles
The writer has taught at the high school and college level.

To the editor:

The Times editorial board has identified some major issues that prevent students from fully forgiving their debt. Pell Grant agrees that it should be doubled or perhaps tripled, as he was a retired educator, four fathers, and all used student loans to pay for college education. ..

I also believe that our state and federal governments should not engage in usury businesses. Student loans must be interest-free. In addition, those who find employment in civil servants after graduation must cancel part of their student loan.

In 1968 I received a defense student loan. During my first years as a teacher at a public school in a low-income area, my loan principal was reduced by 10 percent each year.

Large-scale forgiveness of student loan debt is a financial benefit and will send the wrong message about financial responsibility. But Congress and the President can do a few things to ease the rigors of crushing student debt.

Fred Woody
Austin, Texas

To the editor:

There is another aspect of student debt problems that governments and universities have not addressed. Higher education schools suffer from bloat: too many managers and their staff (grinding unnecessary and unread reports) and underutilized teachers. Many professors earn huge salaries to teach a small number of classes.

Students receive more education for less money if the university does what private companies do, that is, to check employee productivity and remove unprofitable “product lines” (courses). , You can reduce your debt.

Charles H. Gesner
Marblehead, Massachusetts.

To the editor:

I don’t understand why the IRS allows parents, grandparents, or anyone else to pay up to $ 15,000 a year for someone’s loan without paying gift tax. If the US government is serious about collecting more money from student loans, it will exempt gift taxes and allow people to donate any amount of these debts.

Juan Gardea
South Bend, Indiana.

To the editor:

“Yes, I need to cancel my student debt, but only for some people,” David Brooks (May 6th column):

please! Stop talking about forgiving students’ debt. Students who couldn’t repay their debts were able to repay when they went bankrupt. Bankruptcy has been impaired and limited in ways that encourage explosive growth in student loan debt.

As Mr. Brooks observed in his thoughtful column, debt forgiveness can send a terrible cultural signal and cause a legitimate backlash.

If you can’t pay the student’s debt, Congress needs to make it easier to file for bankruptcy. This is called a “fresh start” for some reason. Students who receive a valuable diploma will be happy to pay their obligations. Those who couldn’t graduate from school or who got a worthless degree can get the peace of mind they need.

Ward greene
Portland, Oregon.
The writer is a lawyer and a Fellow of the American College of Bankrapsey.