Student loan forgiveness for high grades?

[Speaks]

Should there be student loan forgiveness for people who make high grades? The higher their grades the less they have to pay back?

 

[MrDawn]

The taxpayers pay for it. But it would be nice if the colleges would just void the loans for those who do good in school. They won't.

Canceling federal student loans will cost the federal government hundreds of billions of dollars— and the general public will eventually end up footing the bill.

According to an official estimate from the Congressional Budget Office, Biden’s student loan cancellation plan will cost $400 billion. However, the office notes that the estimate is “highly uncertain” based on the unknown of how many people would’ve repaid their debt had Biden not taken executive action and how much they still will repay.

Biden previously stated at a press conference that “there is plenty of deficit reduction to pay for the programs.”

But what exactly does “cost the government” mean? Canceled federal student loans would be immediately added to the federal deficit, which measures how much the U.S. spends minus how much it takes in.

Analysts agree that canceling federal student loans would increase the deficit. But what they’re split on is how significant that addition would be, and how the government could eventually recoup the costs.

Canceling Student Debt Isn’t Free. Here’s Who Pays For It

In August, President Joe Biden announced that he will cancel as much as $20,000 in federal student loan debt for lower- and middle-class Americans. The news comes after years of student loan forgiveness being dangled as a possibility but remaining a dream for struggling Americans. But student loa

www.forbes.com

 

[Uncrowned]

I feel like a much more sustainable approach would be incentives for businesses to cover loan costs of top performers when they offer them jobs. Although a hard thing to actually pull off.