A person claiming to be a socialist atheist teacher went viral after posting about his personal financial situation and demanding that his student loans be cancelled.
Stephen Cotterill said he and his wife have amassed $70,000 in student loan debt, but more than 20 years later they still owe $60,000.
“My wife and I dropped out of graduate school 23 years ago with a total of $70,000 in debt. Since then, we've been paying off $500 a month (over $120,000) for 23 years. We still have $60,000 in debt. in debt,” Cotterill wrote on Tuesday.
“Please explain again why student loan debt should not be canceled,” he added.
The tweet garnered a lot of support among those calling for student loan cancellation, while others criticized Cotterill, pointing out that the unpaid debt was likely due to him choosing to make interest-only payments. There were too.
“Because this is not the fault of people like you who didn't make a spontaneous decision.” answered Charles CW Cook of National Review.
“Because they borrowed at about 8.5% interest in the late '90s, didn't refinance when interest rates crashed, only paid minimal interest, and didn't take advantage of the three-year grace period. Bad financial planning. It's not helpful.'' It's a government bailout.''
answered Brian Riedl of the Manhattan Institute.
“If your family has multiple graduate degrees and you have no idea how to manage money, that's your problem, not society's. Pay your bills.” I have written Historian and author Mike Côté.
“The rest of us have chosen to forego luxuries, vacations, etc. to pay off our debts. We haven't paid your debts either.” answered Author Dan Gaynor.
“Because taxpayers shouldn't bail out your bad financial decisions. Have you ever heard of refinancing? Have you heard of paying more than the minimum? And you've wasted three years. experienced an outage. No sympathy, sorry.” answered Ilya Shapiro of the Manhattan Institute.
The original tweet received more than 10.6 million views on X, formerly known as Twitter.
Mr Cotterill sought to clarify the meaning of his tweet after being heavily criticized.
“The issue of student loan forgiveness seems to be somewhat controversial in the United States,” he added the next day. “In my original post, I was not asking for my wife and I to receive student loan forgiveness. I was simply stating the facts and then asking the question.”
President Joe Biden promised to forgive student loan debt as part of his 2020 presidential campaign, but only selective debt was forgiven. Many members of the media have also been criticized on social media for only presenting the left side of the student loan debate.
For more discussion on student loans:
Why Biden's student loan relief plan is a socialist failure
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