task0778
Diamond Member
Uhhhh Pell Grants are not loans. They are grants. They have always been grants. They have never needed to be paid back for normal borrowers. I have trouble believing anything beyond that clearly wrong first sentence.
Pell grants don't have to be paid back, but many of these kids took out student loans in addition to the grant, and that is the forgiveness part for them. Up to $20,000, I think. The problem here as I see it is the precedent - people are going to take out student loans in the future thinking the gov't will not make them pay it back. And that is a dangerous concept, cuz now people are wondering well when is the gov't going to pay off my car loan or my mortgage or my credit card? I'll just run up my tab and not worry at all about paying it back.