Are you sure you want to delete this post?
You've heard it right, folks. The Fed is actually going to help some people with their student debt. This Wall Street Journal article, laid it all out pretty well. Which such a growing problem in loan debt, it is a relief to see something like this happening in the next few years. It may actually have a positive impact on the economy, less debt would have to equal more consumption, right? At the same time, I'm afraid that those who don't necessarily deserve it will take advantage of the program. The article said it best:
Growing evidence suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs, while workers with graduate degrees, such as doctors and lawyers who don’t necessarily need help, are.
What pros and cons have I not thought of?