Last Spring the U.S. Senate defeated The Bank on Students Emergency Loan Refinancing Act by a vote of 58-38. The act, proposed by Senator Elizabeth Warren (D-MA) would lower the interest rate on existing student loans from 7% to 3.86%. The act would be financed by levying a mandatory income tax of 30% on everyone who earns between $1 Million and $2 Million dollars per year. Proponents argue that current student loan interest rates are nearly double normal interest rates and should be lowered to provide relief for millions of low-income borrowers. Opponents argue that the borrowers agreed to pay the interest rates when they took out the loans and taxing the rich would hurt the economy.
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@94267X22yrs2Y
No and stop giving federal student loans
@93ZP8QG2yrs2Y
Taxes on the wealthy should be raised in order to level the playing field, but not solely to lower interest rates on student loans. Regardless, we should lower student loan interest rates; high interest rates make debt repayment nearly impossible.
@93VVP972yrs2Y
No, but eliminate interest rates on student loans
@93L9X562yrs2Y
This is very complicated
@93HTZPV2yrs2Y
No, allow students to go bankrupt on federal student loans.
@93GKDZS2yrs2Y
Increase taxes for the rich and reduce interest rates for student loans, but all colleges don't necessarily have to be free because that may mean extremely high taxes that I have to pay
@93CT93D2yrs2Y
Tax loopholes used by the rich should be fixed
Deleted2yrs2Y
College education should be free of charge for all citizens.
@92ZYZRW2yrs2Y
Yes as most rich people do not pay taxes equivalent to their income due to current laws.
@9334YP32yrs2Y
No, taxation is theft and should be abolished entirely for all US citizens. Instead end government loans and put all current ones into privately managed accounts.
@92SYXM92yrs2Y
only if they didn't work for it
Deleted2yrs2Y
Everyone should pay their fair share. Education should be free for all citizens.
@92RSHM92yrs2Y
As much it will be beneficial that they increase taxes for the wealthy it wouldn't change anything because they have billions of dollars more and still counting, if students think they can't pay off their student loans then they shouldn't be in college in the first place or at least make better financial decisions if they not putting effort to pay it off.
@92QNXVB2yrs2Y
I think they should be raised but not only to reduce college debt
@92NYS4X2yrs2Y
no, forgive all student loans and end government subsidy for college in order to force the market to correct its self from its bloated state. also incentivize trade schools and college provided and payed for by employers.
@MSelvig2yrs2Y
No, and the government should not be in the money loaning business.
@88LK76J2yrs2Y
No and ban student loans
@7G3G2W32yrs2Y
Yes, but I prefer making college free
@922ZQ2R2yrs2Y
No, but we should not have interest rates on Student Loans.
@ThomasJ4762yrs2Y
Free college education for all citizens
@8ZL6BBD2yrs2Y
Yes, but only enough to decrease the amount, if not completely relieve students of, student debt.
@8ZH59GG2yrs2Y
No, and taxes should be lower for everyone. Pretty much bring back Trump's tax cuts.
@RickStewart2yrs2Y
Student loans should be eliminated. They have achieved nothing other than increasing the cost of higher education and leaving naïve students with burdensome debt. If we could agree to eliminate all government aid to higher education, I could agree to forgiving student loans for those people whose education was insufficient to allow them to pay off the loans themselves.
@ThomasJj882yrs2Y
There should be free universal education for all citizens.
@Thomasjj682yrs2Y
College should be free to attend
Deleted2yrs2Y
Free college for all citizens who make less than a certain amount.
@8YPV9GG2yrs2Y
All student loan debt should be cancelled entirely.
@8YMJM7J2yrs2Y
Kinda but kinda no. It's not fair to increase taxes from the rich for student loans.
@8YJBQV82yrs2Y
No, but lower taxes for all.
@8YDDPK22yrs2Y
No, while that is good for the rich what about the people who aren't necessarily poor but have money still
@8Y6XCQ32yrs2Y
Yes, but it depends on how much money is going towards student loans.
Deleted2yrs2Y
No, everyone should be taxed the same and pay their own debts, but still reduce interest rates for student loans and eliminate loopholes for the rich, and fund more scholarship programs.
Deleted2yrs2Y
No, everyone should be taxed the same and pay their own debts, but still reduce interest rates for student loans and eliminate all loopholes.
Deleted2yrs2Y
No, everyone should be taxed the same and pay their own debts, but eliminate all loopholes, and still reduce interest rates for student loans.
@thomasjj02yrs2Y
Free college for every low middle class and downward citizen.
@8XTPJMC2yrs2Y
no but we should decrease student loans
@8XTPJMC2yrs2Y
yes and no I would want the taxpayers should know what there paying for.
@8XT29L42yrs2Y
We need to persuade the rich to change their mind and make the right decisions themselves because whenever we raise taxes on them, they don't CHOOSE to reduce interest rates on student loans- they're so selfish that they take the tax money lost back by charging more for their lower constituents (institutions like colleges). If the government stopped distributing grants and 'free money' (money is NEVER free, regardless of what anyone tells you), tuition and fees would go down, increasing attendance to colleges. The only reason interest rates are on student loans is because the rich handed out so much grants and scholarships they have to interest rate it as a good policy issue to focus on away from the real problem is the very structure of the college payment system.
@ThomasJ13312yrs2Y
Free college for those making less than a certain amount each year.
@8XK89WW2yrs2Y
I believe that they should increase taxes on rich people but the student loans should stay the same
