Student debt forgiveness is a great idea. But, why stop there? Only the most disadvantaged don't get the opportunity to go to college either by cost, or lacking the education to see the cost-benefit of a college degree.
Now, seeing student debt forgiveness is a process by which to retroactively reconsider and fix past choices, I propose the following:
Of course, we pay off all student debt. Let's say it's $32,000 average. Including for those who have already paid off student debt.
Next we must recognize a college degree on average provides the average person an additional say, $22,000 per year.
So, all the people who didn't go to college deserve a $32,000 lump sum (+ interest), plus $22,000 (+ interest) for every year they've been alive after legal age plus four years. Thus, a 30-year-old receives $186,000 and is given $22,000 per year henceforth until retirement age. Naturally, these amounts will be tax deducted and the yearly allowance is rescinded or reduced should the receiver complete a bachelor's degree.
If you believe in student debt forgiveness but believe this would be unfair, please explain why.
All this needs is a catchy name