this post was submitted on 22 Jun 2023
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Politics
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It costs the government nothing to forgive the debt as it's debt they hold, they aren't buying loans to forgive like some organizations. They're all department of education loans the government always owned.
Not true. The money they receive from loan repayments is factored into the national budget, so forgiving loans means that the government has less money for other programs.
It’s true that they’re not literally spending money here, but it’s the same end result.