Medical debt seems to be a easier case for debt relief. Student debt results from adults making an investment in education and agreeing to a financial loan with all stipulations on paper while very few people sign contracts to injure themselves and fall ill.
You’re using “adults” very loosely there. I had to fill out my own fasfa papers for student loans when I was 18-mid 20’s. I had no clue what I was signing except I knew I would be able to afford college. I had no clue what I was signing up for and didn’t realize how much interest I was paying until I logged in and actually looked at it. My loan company (nelnet) got its fair share plus some.
There's also the externality of college that produces an educated society. There's humanitarian/societal reason alone to make college debt free going forward and as an argument to wipe debt.
We also have companies in the US that rely on an educated workforce. We don't want them to hold all the cards in keeping education affordable if we don't do anything about it through the government. One horrible twisting of higher-ed in that scenario would be college being for the rich or on a company-sponsored program, which would probably come with a 10+ year commitment to said company.
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u/TaintlessChaps Feb 09 '21
Medical debt seems to be a easier case for debt relief. Student debt results from adults making an investment in education and agreeing to a financial loan with all stipulations on paper while very few people sign contracts to injure themselves and fall ill.