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Rick Schrenker's avatar

I’m onboard with debt relief, but why is no one talking about addressing the systemic problems that got us to this point?

My kids went through college about 20 years ago. Three kids, three schools, thirteen years of FAFSAs and signing loans. And every year - EVERY YEAR - tuition and fees at each school increased more than the rate of inflation, cost of living, etc. Pick an indicator. The increase was greater. And it appears to me that hasn’t changed in the 20+ years since.

The schools have no reason to alter that. Nor do companies like Navient that do everything they can to squeeze every last dime out of each and every loan. They know parents and students will just suck it up and take on the loans and the hassles that go with paying them off.

I live in MA and have tried getting Warren to speak to it. Crickets.

Cancel the debt without fixing this, and 20 years from now this will still becan issue.

It seems to me it would be a political winner to address the systemic problems simultaneously.

So why is it not at least discussed?

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Linda K's avatar

He should do it. If R's threaten litigation, let them hang that albatross around their necks--another unpopular position for them to own.

Not only would this be a big announcement on its own, but he could use it to showcase/raise awareness of his other recent student aid proposals--raising Pell grant awards to $8,670 annually, support for HCBUs and Tribal colleges, $200m for "career connected high schools" that let kids earn college credit. This has gotten little attention but it should. It's another way to reduce college costs and thus future debt--addressing some of the "fairness" concerns about how cancelling student debt today does nothing to help future students.

These latest proposals rest with Congress, maybe a little pressure would help. A midterm issue that would help the D's.

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