The complicated beauty of student debt forgiveness, according to the CEO who cleared the loans of nearly 400 Morehouse grads. (via CNBCMakeIt)
But when it comes to proposals put forth by politicians for the government to forgive student debt, Smith stressed that the subject is "complicated."
"There are some folks that have college debt for 20 years, and if you forgive the past, what about the future?" he said. Smith revealed that he is working on a not-yet-announced initiative with former Internal Revenue Service commissioner Fred T. Goldberg to eliminate the student debt burden for all African Americans who study science, technology, engineering and mathematics at HBCUs going forward — but would not help those who took on debt in the past.
"Is it fair to them? I don't know," conceded Smith. "So government can do some things in the past. The question is what do we do for the future? Or you can do things for the future, but what do you do for folks in the past with that burden?" To be sure, many politicians who have proposed student debt forgiveness have suggested both forgiveness for those who took on debt in the past, as well as proposals to make sure students don't take on debt in the future.has proposed cancelling up to $50,000 in student loan debt for every borrower with a household income of less than $100,000.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
News Corp Launches Knewz With 400-Plus Publishers, Promising No Clickbait or ‘Narrow-Minded Nonsense’Rupert Murdoch’s News Corp says it’s trying to battle against fake news and social-media clickbait with Knewz, its own curated news-aggregation service. The company’s new Knewz.co…
Read more »
K9 helps seize nearly 400 pounds of meth during traffic stopAuthorities in Arizona seized nearly 400 pounds of methamphetamine during a traffic stop over the weekend, officials said. A trooper with the Arizona Department of Public Safety pulled a vehicle over Friday for a traffic violation on Interstate 15, just south of Littlefield near the Arizona-Nevada border
Read more »
Boeing CEO says he's confident regulators will sign off on 737 Max by midyear“We believe this airplane is safer than the safest airplane flying today,” Boeing CEO Dave Calhoun says about the 737 Max.
Read more »
'My stomach turned' — Boeing CEO outraged by internal 737 Max messages before deadly crashesBoeing CEO David Calhoun said the messages released earlier this month, in which employees boasted about bullying regulators, were 'unacceptable.'
Read more »
Rusty Gaston Appointed Sony/ATV Music Publishing Nashville CEORusty Gaston has been appointed CEO of Sony/ATV Music Publishing Nashville effective immediately, Billboard has learned. As part of his new role, the music industry veteran will lead all creative operations for the company’s Nashville division including the signing of new songwriters.
Read more »