It’s very calm and professional. Just post the information and leave it there. They could have tagged it, “We report. You decide.” 
I also don’t know how we are supposed to decide what degrees are “worthy” and which are “worthless.” The very same people who are calling for the creation of a new govt bureaucracy to choose winners and losers are the very same ones who decry any subsidy or tax that distorts the “free market” in any other sector.
As you showed in your excellent post, STEM majors tend to have worse job prospects than non-STEM majors. So, are those arguing that the government should only fund “worthwhile” degrees should stop funding STEM, and instead fund Psychology, Communications, and Liberal Arts? Or, do they want STEM fields funded in spite of that?
How exactly do they want the government to pick winners and losers, should it be based on what graduates the students with the best job prospects, what is best for society, or just based on what they think should be funded, even though they can’t justify it with actual data.
Students should certainly be given a more realistic picture of what job prospects are available to different majors, and what it would cost to attain those degrees, I do think that part of the problem is that we have 17 year olds making decisions about the rest of their lives based on poor information. But ultimately, isn’t it the student who should be making the decision as to what they think is best for them, rather than imposing a government bureaucracy to tell them what career path they are allowed to take?
Maybe the lenders should take it as a loss like any other bad debt?
Or they could bundle up all those loans into a CDO and sell them to investment banks?
Or maybe refi the loans in cryptocurrency and they can just disappear naturally.
That was fricking awesome! 
!
My daughter who will have 20k in fed Loans wiped out alerted me to the tweet with glee!
I however am still diligently paying down her private loans of 20k. And her sisters too who gets 10k relief.
Their loans were for tuition and dorms only. No cars no trips no dorm makeover. Shoe string budget for instate 2 nd tier university schools.
Btw, in addition to all the other wrong arguments put forward by the Lying Right, the argument that Biden doesn’t have the authority, or that Biden can’t issue an executive order like this, are completely false when dealing with reality.
This was not done via executive order. It’s done under the authority granted to the President via Congressional action, specifically the 2003 HEROES act, passed with overwhelming bipartisan support, which gives the Education secretary authority to waive rules relating to student financial aid programs in times or war or national emergency.
In 2020, Trump declared COVID a national emergency. That emergency has not been rescinded, nor have there been any calls to do so.
Therefore, Biden does have the legislative authority to do this. The Justice department, on Wednesday, issued a ruling to this effect:
Just as with Afghanistan, Biden used a Trump policy to benefit America. Amazing shit, really. No wonder the Right is freaking out.
I would just like to join others in highlighting this excellent quote from an also excellent overall post by Kimstu.
The loans in question were guaranteed by the federal government.
If modern Republicans existed in biblical times, they would have said that the miracle of loaves and fishes was a slap in the face to those that brought their own lunch.
Matthew 18:21-35(or so) is often called “The Parable of the Unforgiving Debtor”.
The gist is that one debtor is forgiven and then refuses to forgive someone else who owes him money. The final line is, “That is what my heavenly Father will do if you refuse to forgive others…”
It has a “sin” meaning, but the story is legit about how being forgiven should motivate you to forgive. Debts, too.
Absolutely - we need to inform students MUCH better.
One good thing my college did for me was be very up front about job prospects (it was a Fine Arts college). Also required a business course for us and hammered home the notion of a back-up skill in case we didn’t make it big in the art world.
As it turned out, I never did become the next Andy Warhol. On the other hand, I was able to get a job to cover my rent pretty quickly out of college AND pay off my student loans while a struggling artist. I was able to do that in part because “how to survive” was part of the college curriculum. From “back up skill” to “interesting ways to use your knowledge gained getting an art degree in non-art places”.
But I don’t think most colleges do that. I’m not even sure my alma mater still does that. I certainly got a LOT of bad advice about college and careers between the age of 15 and 25, and too much of it came from authority figures like school counselors. (My high school one was worse than useless). Fortunately, I had older siblings who were able to give me some good advice so I could learn from their mistakes.
I still make a certain side-gig amount of money from my art skills even if it’s not enough to live on. I’ve probably used my degree more than a lot of other people have.
Pretend it’s a tax break for megacorporations, which you also didn’t benefit from.
Question: Do plumbers and carpenters and people with trade school degrees not have student loan debt? I mean, trade school isn’t free.
Depends on the program.
Many plumbers, for example, learned through an apprenticeship program, on-the-job training where they are paid rather than paying. On the other hand, my local trade school, Washburn Institute of Technology (a subprogram of Washburn University) offers degree and certificate programs in carpentry/cabinetry, machine tooling, welding, auto repair, various health occupations such as phlebotomy, etc.; those are all eligible for federal financial aid, including Pell Grants and direct student loans.
I have a feeling the butt-hurt Right consider any form of trade school as a whole different thing than any sort of lib’rul university.
OK, send me a check for the money I spent on college. I need a new car. I’m willing to take a loan out on the car if that changes things.
To better state it, the butt-hurt responsible citizen is getting tired of watching the national debt rise because people make poor decisions. It’s just more vote-buying welfare prior to an election.
Funny thing, the young people getting their loans paid off are still on the hook for the national debt. It’s the gift that keeps on accruing interest.
Here’s a deep look (might be paywalled) at how much more US schools cost over time, how government is paying a smaller share, how different populations are affected and so forth. On the whole, Biden’s actions seem reasonable to me. The amount of student debt owed by almost 50 million Americans is astronomical.
Yawn. To those of us who know better, and are at good at explaining things, a mere $300 billion in debt transference becomes a lot less scary when looked at the world as a whole:
Wow. 3 whole blocks move from “household” to “government” which, as you admitted, is already on the hook for these loans. It is, literally, peanuts in the global capital markets.
ETA: Reply to Mcgiver
Uh, it’s too late for you and me. However, we should have taxes to pay for future people’s university education.
I’ve seen this somewhere recently:
"Greene, who said on Newsmax that “it’s completely unfair” for student loans to be forgiven, had $183,504 in PPP loans forgiven, according to the White House.