In truth, I only had a few cool tee shirts, two pairs of button-fly 501 jeans, and "a winning smile and a haircut" to my name, when I entered law school (long, long ago -- in a galaxy far, far away). In what would be inflation adjusted (today's) dollars though, I ultimately borrowed about $150,000 in government-backed student loans [I got some scholarships, and work/study, too] after working summers in the hard-rock mines, and holding about 25 odd jobs to pay for undergrad. . . yes, I borrowed what was a vast sum, for me (at the time). And I repaid every dime plus interest. . early. Decades ago. [You may fairly quibble about whether I've made good on the government's faith. . . in my promise, as a young student. I don't mind.]
Even so. . . I 100 per cent support the relief Mr. Biden offers students, and former students making less than $125,000 a year this morning.
The debts many of them carry are effectively preventing them from advancing in life (this amount is likely not enough -- but it will help), and the equation has shifted considerably since I was in school: graduate degree costs have greatly outstripped the rate of increase in wages, in the last two decades. [We are effectively locking bright (but limited means) people out of home ownership, among other things.]
To be sure, we also need to address the crazy amount most schools now charge for tuition -- by offering tax incentives to the universities to reduce administrative bloat -- which in turn is driving the shockingly usurious increase in the cost of college.
So. . . it is a complex problem -- and today's action is a good, if small, first step. The GOP-ers whining that this is a give-away to the undeserving. . . mostly come from wealth, and never ate peanut butter and carrots for a few months -- as breakfast, lunch and dinner. You know they didn't -- and those who did, are effectively saying. . . "I got help, but no one else should get. . . help."
Me? I am (and will be) eternally grateful that this country provided me with a means to. . . better my stars. I very much wish to see us all "pay that forward", generationally (on this, and the climate action front, among others). Onward -- smiling. Well done, Dark Brandon!
नमस्ते
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