seashoreCM
All around nice guy.
- Joined
- Aug 25, 2001
No, the loan should not be forgiven but interest should be lowered.
One idea is to strike March, April, and May out of the calendar in the sense that no interest would accue, be computed, be capitalized, or be payable for that time period. The intent is to ease the burden on being unemployed for those months. The year 2020 would have nine interest bearing months so interest for that calendar year would be 3/4 of the interest paid the preceding year all other things and facts such as interest rate and amount owing being the same.
Another idea is to give a triple tax free* bonus, perhaps in monthly increments, to graduates who take jobs in hazardous areas or hazardous occupations. The intent is to to give the equivalent of forgiving part of the student loan, but only to qualifying graduates (i.e. who took the hazardous job). There is evidence that this may not work well because some people with quite high salaries have been declining to go back to work for fear of getting one of the more severe cases of the coronavirus..
* Not subject to federal, state, or local income tax.
One idea is to strike March, April, and May out of the calendar in the sense that no interest would accue, be computed, be capitalized, or be payable for that time period. The intent is to ease the burden on being unemployed for those months. The year 2020 would have nine interest bearing months so interest for that calendar year would be 3/4 of the interest paid the preceding year all other things and facts such as interest rate and amount owing being the same.
Another idea is to give a triple tax free* bonus, perhaps in monthly increments, to graduates who take jobs in hazardous areas or hazardous occupations. The intent is to to give the equivalent of forgiving part of the student loan, but only to qualifying graduates (i.e. who took the hazardous job). There is evidence that this may not work well because some people with quite high salaries have been declining to go back to work for fear of getting one of the more severe cases of the coronavirus..
* Not subject to federal, state, or local income tax.
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