Essay On Student Loan Forgiveness
“Student Loan Forgiveness” Student loans are something that haunts us all. It even scares some people from wanting to go to college just because they don't want to face the student loans afterwards. 70% of graduates are leaving school with some extra financial baggage. So, they made a thing called “Student Loan Forgiveness” this is a program that helps out working people manage their student loan debt after 10 years. The question is, is this really a good program like it may seem? They say that having student loan forgiveness will help boost the economy by allowing the people who just got out of college to be able to afford nice things like houses and cars, allowing the economy to boost. Although that may potentially be true, there are many other
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“The economy isn't a machine the government can manipulate to achieve particular outcomes.” (Blanco). It's a lot more complicated than most people think. It's a big process that many people are associated with to make those things happen and throwing money to people to help out their debt isn't gonna fix ours and make our economy boost. That is not how the government makes the economy boost, saving their money on useless programs is how our economy will boost and it will teach people that they have to work for what they want instead of trying to be eligible to get free money. “These taxes can create huge hidden costs when this forgiveness amount hits your tax bill” (Lockert). Some forgiveness programs under the IRS could be considered taxable incomes and could make you faces a big tax bill and if you cannot afford to pay that tax bill, then you set up payments with the IRS to pay off your tax debt and if you still fail to pay that then you will have to pay interest on the debt, which in my opinion would be way worse than making student loan payments every
“The economy isn't a machine the government can manipulate to achieve particular outcomes.” (Blanco). It's a lot more complicated than most people think. It's a big process that many people are associated with to make those things happen and throwing money to people to help out their debt isn't gonna fix ours and make our economy boost. That is not how the government makes the economy boost, saving their money on useless programs is how our economy will boost and it will teach people that they have to work for what they want instead of trying to be eligible to get free money. “These taxes can create huge hidden costs when this forgiveness amount hits your tax bill” (Lockert). Some forgiveness programs under the IRS could be considered taxable incomes and could make you faces a big tax bill and if you cannot afford to pay that tax bill, then you set up payments with the IRS to pay off your tax debt and if you still fail to pay that then you will have to pay interest on the debt, which in my opinion would be way worse than making student loan payments every