College graduate and new mom Michelle Schroeder-Gardner, based in Florida, explained how she paid off $40,000 in student loans in less than a year — while two money experts, Brian Brenberg and Dave Ramsey, weighed in on the dangers of student loan cancellation.
"I think it sets a very bad precedent that people are inevitably going to come to rely on," Brenberg told Fox News Digital."You just can't have a functioning economy where there's an expectation that debt is going to be forgiven."
"I'm concerned you start to erode not only the markets for student debt but for every kind of borrowing when you engage in widespread debt forgiveness." In an interview, Dave Ramsey said about all those people who have paid off their student loans, "Are you going to give them their money back?" "It is intellectually dishonest [for the government] to talk about forgiving student loans while they're still making them."
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