The student loan forgiveness program is a terrible idea no matter what your political leanings.
It's basically a very weird way to compensate people for certain kinds of jobs.
The accounting is a mess, it's a promise for the future so it doesn't show up as a budget problem tofay, but will later.
It's very uneven -- some people take out huge loans and other borrow more modestly. The borrowed money can be used for lots of non-educational things, so it creates an incentive to borrow more than you really need.
And then it's a big yes or no at the end, not gradual, so it sticks people to jobs and makes a big dramatic event after ten years.
It's basically a very weird way to compensate people for certain kinds of jobs.
The accounting is a mess, it's a promise for the future so it doesn't show up as a budget problem tofay, but will later.
It's very uneven -- some people take out huge loans and other borrow more modestly. The borrowed money can be used for lots of non-educational things, so it creates an incentive to borrow more than you really need.
And then it's a big yes or no at the end, not gradual, so it sticks people to jobs and makes a big dramatic event after ten years.