Honestly I wouldn't be against this.
If he actually did it, it would obliterate the current "education" system racket.
No because that money isn't owed to colleges, it is owed to the government (us) and banks (also us kinda). If it was the colleges getting stiffed, then I'd agree, fuck em.
And the money isn’t spent entirely on education. Retarded people spend the money on apartment rentals, car payments, eating out all the time, drinking etc.
Truth
Exactly opposite. Students would start taking out bigger loans for school knowing they might be amnestied and the universities would be receiving all the cash.
There was a funny post about this on /r/wallstreets bets where a user suggested taking out a loan to play the market.
My point is that the shock to the banks/universities would be catastrophic if all that debt was canceled.
They'd have all this money loaned out to people and all the sudden it's basicaly all defaulted on.
It would likely bring about an even worse system than we already have, but at least it would throw the banks into chaos for awhile lol
Universities don't loan out money. They would never be defaulted on.
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