The Student-Loan-Hysterical?

 With the 80-odd million votes in 2020....I would personally take a guess that 10-percent of these votes came from Republicans, Independents, and Democrats for Joe Biden....because he 'guaranteed' that student loan debt would be massively cut (some people felt 50-percent would be likely).  

If you were standing there in 2019....owing $80k and barely making $35k at your start-up profession after college (age 24), the debt thing was a constant problem for you to handle. Voting for Joe Biden made sense....he'd dissolve half of that debt and you'd feel better.

For some folks, the sales pitch was that $50k of debt would dissolve away.....so those owing $25k, $35k, or $45k....it was an enormous 'weight' lifted off your back.

President Biden did one single thing for you....he stalled the debt payments (no interest, no payments).  It was all figured that this would eventually evolve into a large sum of money forgiven.

Well.....it didn't happen.

In fact, presently, the new executive order says you have a grace period of no payments up to May of 2022.

Come June 2022....you will have to start making payments.

Anger and frustration?  I'd guess and say more than forty-million Americans are pretty negative about Biden and his fraudulent promise. Whoever is running for the Democrats in 2023's 'build-up' to the primary.....will go and repeat the Joe Biden promise....dismantling the college loan debt.  It's virtually guaranteed.

I certainly feel sorry for these folks and realize that this 'anchor' is screwing people over....limiting their home-purchase ability, and their contributions to their retirement.  But, I generally ask.....why did you go and borrow $50k for a crappy degree which only leads to a starting $30k a year salary, and limits you to probably $45k at age forty?  Why were you that stupid not to grasp the sequence of results?

Blame at the university system for having so many burdens upon them with almost no value for one-quarter of their college staff work-force?  Yeah.  I also blame state legislatures for not tackling the issue and asking for audits of their own public colleges.

This Biden 'joke' just sinking away?  More or less.

Someone will come along in 2023 to promise a massive give-away deal, and half your debt to dissolve if you just vote them in.  Another massive push that fails in the end?  Absolutely.

The only way to fix this?  I'd go to each kid applying for massive student loans and just tell them.....the max you get for a non-engineer/non-medical loan per year....is $8,000.  Either you accept this and just go to school part-time (making this a 8-year degree process)....or you settle on Community College (for lesser cost degrees).  Once you decrease the 'herd' entering universities.....the college will have to react, and lay off one-quarter of their employees (the non-productive folks).  The system will clean itself up in just two or three years.