Advantages and disadvantages of loan forgiveness aside, thereвЂ™s a far more problem that is fundamental.
Joe Biden recently indicated help for legislation that could forgive the initial $10,000 of anyoneвЂ™s learning education loan financial obligation. However with Democratic control over the Senate in question, the chances of major legislation are uncertain. ThatвЂ™s why some are actually pressing the incoming administration to make use of executive action to unilaterally forgive loans.
Although the legality of these action is up for debate, a more impressive concern looms: what are the results in the first place if we forgive student loans without changing the system that produced them?