"UBS argues the end of the student loan payment moratorium will hit a bunch of brands and retailers like American Eagle Outfitters, Nike, and Gap."
https://www.businessinsider.com/student-loan-borrowers-younger-impulsive-shoppers-who-prioritize-brands-2023-6
There is no such thing as Free Education. You are talking about tax funded education.
@5hya+1mYSIjpy the “not being fair to people who paid” argument is pretty weak considering they can apply for reimbursement also why continue to suffer a problem just because others had to and we can fix it? Would you not cure cancer just because all the people who died couldn’t be cured?
There’s nothing wrong with free education from a moral or ethical perspective. Most detractors are worried about how it comes out of the budget, coupled with the rapid devaluation in value of a college degree.
A degree doesn’t guarantee a job & there’s little guidance to ensure 15 year old kids choose a good career path.
It’s not like we can tax much more, the West Coast already has (aggregated, we’re not looking at just income, real estate, or etc) tax rates similar to Europe.
And the reason that Europe has room in their budget is because of America’s military support. China and Russia are on the move we’re headed into a decade of conflict, that budget won’t be touched.
Really, what we’re looking at is a generation’s bad investment. No one should bail out bad financial decisions. But at the very least the debt should be eligible for bankruptcy like any other debt.
Banks would suddenly get really careful about the loans they sign teenagers up for.
@5hya+1mYSIjpy Do you think that all the other countries in the world are doing it wrong by having free education?
It's not fair to people who didn't (maybe couldn't afford) go to college to have to pay for someone's ride who is benefiting monetarily from having gone to college.
Also, not repaying loans means devaluating of the dollar / further debasement of our currency / more inflation.
And we keep increasing prices.
Oil is 37% down vs LY
Cotton is 34% down
Shanghai - LA freight rate is down 88%.
They don’t increase our salaries to match the inflation.
Yet they keep increasing the prices that are already ridiculously high.
Wall Street will be happy.
I love politics - lets stick to classic Nike bashing. That's what happens on this forum right?
I mean that makes sense with all business. Having to start paying back the loans will mean anyone doing so won’t be able to use that money to spend on goods and services. The debt should all be forgiven and colleges made free or affordable so this issue doesn’t happen again