What about going forward? Are we going to address the cause or just the effects? College is too expensive. People go and waste money without direction or hope of paying it back. In 10 years we will have another generation with crippling student debt. How are we going to deal with that? Also, to everyone who has saved and scrimped to pay their debts is essentially being punished for doing the right thing. Help me here.
What should be done is to allow student debt to be eliminated in bankruptcy or another form of repayment by the schools themselves. Could be through taking their endowments for students who do not find a job of relative value within a certain timeframe. To have the American taxpayer on the hook for the failures of the government would only provide fuel for the fire of Republicans to the blue-collar working class.