The way I see it, America will eventually have the choice between forgiving student debt or facing the massive destabilization caused by an entire generation being unable to build any wealth.
By destabilization I mean that the millennial generation will eventually become aware of the fact that they will be enslaved by their student debt for most of, if not their entire lives.
Many in this generation still had parents that were able to save and contribute financially to their children’s college education, but that’s also going to be a thing of the past when everyone has their own debt burden to carry well into adulthood - meaning the problem will become unimaginably worse for the next generation.
Once people realize this, you’ve got a social powder keg unheard of since the social question poised by the industrial revolution.
The entire student loan system is little more than a scheme meant to extract every last bit of present and future wealth from society’s youngest members, and the longer it continues, the uglier its inevitable end is going to be.
and so many millennials are choosing not to get married, or have kids because of all the debts they owe.
its having much more severe consequences than people want to admit.
