NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — With the announcement on Tuesday of the Biden Administration's latest plan to help student borrowers, the Saving on a Valuable Education plan, which could end up with over a million borrowers who have $0 payments under the new plan, according to Forbes, it's important to note that Creighton University economist Ernie Goss said that student loan forgiveness as a concept isn't necessarily a good thing. His comments to Hutch Post on student debt came last week, before the plan's details were released.
"The President continues to attempt to forgive those loans," Goss said. "I don't think that's good for the institutions like mine, educational institutions. I think when you borrow it, you pay it back."
The constant moving of the goalposts for borrowers is not something Goss is a fan of, either.
"This is baloney," Goss said. "The litigation, the stops and starts of this. Why would you begin to start making repayment? Are they going to prosecute individuals? There will be some that will begin to repay, but overall, it will not begin in October, because of the message the President and the administration is sending out there. This is not what economists want to see."
If you'd like to sign up for the new plan because you plan to start repayments on time, you can do that online.
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