You must want to work in cable news or something. You ignored the rest of my reasoning. Unfortunately for you the rest of that reasoning is important to what I said. I am arguing that it should be reset and limits should be put on it so this never happens again. There is an inherent absurdity in 18 year olds starting down a path to an easy $75,000-$100,000 in debt without a concrete idea of what they want to do or a plan. Not everybody has a large group of people behind them who can help them make the perfect decision. That’s how a lot of these people are getting caught up in this… a societal pressure to get an education or you’ll never amount to anything more than a person at the end of a freeway ramp with a cardboard sign and a lack of good planning and support to do such planning. I mean would we sell an 18 year old a starter home with no money down?
If you want to earn your money back that you contributed to this collect all the coins you find on the ground for a year and you’ll get there. The “I don’t want to pay for your mistakes” line is actually pretty dumb. The amount of money that went from your taxes towards this as an individual is infinitesimal… the way some people are reacting to this you’d think you paid $20,000 directly to someone right out of YOUR taxes for the year. The numbers we are talking about simply don’t allow an argument like this to work. Even better is if this comes out of the part that is tacked on to the national debt. Either way you pay the same amount in taxes to the government and they decide what to do with it.