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Is canceling student loan debt considered stealing?
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this post was submitted on 06 Dec 2024
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In the strictest legal sense it's not stealing.
Forgiving loans of those who followed a program and qualified is definitely not stealing. Not forgiving those loans and forcing payment, is at least analogous to stealing.
Blanket forgiveness of all loans is similar to stealing from future generations, as it is government debt that isn't getting repaid as expected.
Why would it be government debt? Just cancel the loan, don't pay it on behalf of the borrower.
The government guarantees the loan. Student loans are ultimately the government taking out a loan on behalf of a citizen.