San Diego Housing Market News and Analysis
student loan foregiveness: BULLISH
User Forum Topic
Submitted by gzz on July 6, 2022 - 3:32pm
Those monthly loan payments count against DTI and limit the mortgage amounts people can get.
They are also a psychological burden on young buyers.
Hopefully Biden will go with 50k in automatic forgiveness, no application required.
Income cutoffs are impractical. You are going to give someone with a $99,999 income a 50k loan forgiveness, but then say "sorry you get nothing" to someone who makes a dollar more?
You going to have the Dept of Education massively staff up and then start processing millions of applications for forgiveness? All just to stop a small number of high income borrowers from getting BidenBux? And these high income borrowers are both more likely to vote and more likely to be swing voters than low income student loan debtors.
Much easier to just cut balances by 50k a borrower, which can be done by a single programmer.
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