Increasingly, We Are a Nation of Deadbeats

From CNBC:

"One of the arguments for forgiving student loans is that millions of borrowers will never pay off their debt anyway.

According to a rough estimate by higher education expert Mark Kantrowitz, just about half of federal student loan borrowers, or 20 million people, were in repayment prior to the pandemic. A quarter — or more than 10 million people — were in delinquency or default. Many others had applied for temporary relief for struggling borrowers, including deferments or forbearances.

These grim figures led to comparisons to the 2008 mortgage crisis. 

In the meantime, student loan borrowers face a host of consequences from having tens of thousands of dollars on their personal balance sheets, including difficulty buying a house and starting a business."

Allow me to translate:  These people need to be recycled back into the debtor system as quickly as possible.  Requiring them to actually pay back the funds borrowed to attend college will keep them from fulfilling their ultimate destinies of being fodder for the banking industry and "good consumers".  This economy needs debtors and it needs them now.  

And, it does not hurt that dangling the prospect of "free money" in front of the Lower Slobovians who vote might help the Democrats in the Fall.