let me be CRYSTAL CLEAR on this. The debt IS NOT canceled. It is merely shifted to another borrower – without their consent.
I have a college degree. I paid my student loan debt. I have two daughters in college. They will pay any student loan debt they may incur.
Incurring debt is a contract. In return for receiving school funding, a promise is made to repay the funds with interest. No different than when you borrow to purchase a vehicle or house. Buy more house or vehicle than you can afford? Suffer the consequences. Spend 4+ years in higher education obtaining a worthless degree – learn to say “would you like to super-size your order” and suffer the consequences.
Another facet of this is the “watering down” of college degrees. There was a time when most anyone who earned a college degree could demonstrate a higher level of intelligence in their life. That’s not the case any more. I know of many people with advanced degrees who are what I have coined, overeducated morons. I’ve also heard similarly, they are educated well beyond their intelligence. In reflection, maybe some of these overeducated morons deserve their money back? [heavy sarcasm intended] LoL
This is a nonissue for people who are willing to plan ahead and deal with this situation. If I never went to college, I see no reason why I should be required to pay for other people to go.