Hmm for this topic's edition, this feels like a decision to make, because I know how hard it is to pay off a loan, I have been in that position before, it not bad, but it will just be that a lot of people would be paying other peoples debt in the place of taxes
So to be honest this question has me sitting back and just really thinking because on one hand I understand the big relief that would come from wiping off student loan debt completely, debt like that is not just a financial burden it is a mental one too, see it follows you around it really affects decisions you make about your future about starting a family, about taking risks ,about even just breathing freely without that constant reminder hanging over your head that you owe somebody something , so yes a part of me understands why people would jump at the chance to have that gone completely like that
But then the practical side of me starts asking questions because debt does not just disappear into thin air does it?.... if the loans are cleared somebody is still footing that bill eventually and in this case that somebody now becomes everyone through increased taxes and that is where it gets complicated for me, so because like this now you are asking people who maybe never took a loan people who paid their way through school differently or people who already struggled to pay off their own debt the hard way to now also contribute toward clearing someone elses debt that does not sit entirely right with me if I am being honest
I keep thinking about fairness in all of this, is it fair that someone who sacrificed budgeted tightly maybe even skipped things they wanted just to avoid taking a loan in the first place now has to pay more in taxes to offset loans for the people who did take them at the same time?... or is it fair that someone is stuck paying off a loan that keeps accumulating interest for years sometimes decades just because they wanted an education , something that is supposed to open doors not trap you in a different kind of prison..…
I think that is the real tension in this whole question is that there is no version of this where everybody wins completely someone is going to feel like they are carrying a weight that is not entirely theirs, whether it is the person stuck in loan debt for years or the person now paying extra tax for debt, they didn't even personally take on
For me personally would I accept it ? I think I would cautiously though ...... and not because it is a perfect solution but because I understand firsthand how heavy that kind of debt can feel how it weighs on you mentally and financially and also long after you have even forgotten what you spent some of that loan money on, if clearing it off means a slightly higher tax for all of us including myself to give people a genuine fresh start I think I would lean toward supporting that as long as there is also a real plan going forward to prevent this same cycle from repeating itself for the next generation of students
Because at the end of the day relieving debt without fixing the actual system that creates it in the first place just means we will be back here again in a few years having the same conversation, with a new set of people drowning in the same kind of debt
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