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this post was submitted on 26 Jun 2023
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Politics
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I want someone to be the devil advocate. Let's say this happens, what then? What kind of nefarious things can one or more capitalist do to make this shit goes sideways?
Not because I hate the bill (I love it infact - more power to the students!), but because I hate the people that will take evil advantage out of this situation.
I'm not sure what could be done. It's an executive order, not a bill, and it's scope is fairly limited. It doesn't create any new powers, just uses what's outlined in the HEROES Act to reduce the burden of student loans. Since it's an executive order the next President could revoke it, but the cancelled amounts can't be brought back so that would just wipe away the changes to how interest is handled.
Capitalists will do what they can to make money wherever they can, I simply don't see that as worth not wiping out student loans over, whether it's through this bill or otherwise.