I disagree with the notion "...things are different today..."
I have two grandchildren who got student loans. They graduated. They had a tough time getting what they thought was going to be a financial post graduate beginning.
They and their spouses had to work. They drove older cars. They bought very small "affordable" housing. No eating out. They had non smart flip phones for several years. Etc. Etc.
Fast forward their loans are paid off. They have much more lucrative positions and all else that flows from success.
As I see it....not much has changed. It is the drive of the individuals that honor their obligations by making short term sacrifices.
What is of significance these days is the interest rates. When I had my Federal student loan it was at 1.5% for 10 years.
There is no reason for the high interest rates of today for such loans.
I maintain my opinion, there is no reason that loans should be forgiven. Instead the government, the banks, the parents et al.....should all endeavor to restructure what ever needs to be done to honor the debt. WHATEVER IT TAKES.
That is what will have a positive effect on the future.....drive and responsibility VS a hand out and loan forgiveness that breeds a bail out expectation.....instead of can do....must do....will do.
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