Today, 05:16 AM
Loan forgiveness is actually Biblical. And it's the basis of the bankruptcy system that Trump took advantage of more than once during his business career.
Deuteronomy 15:1-2 ESV
“At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed.
https://www.abi.org/feed-item/examining-donald-trump%E2%80%99s-chapter-11-bankruptcies
Donald Trump, the current frontrunner for the Republican presidential nomination, has come under fire from both the media and the other candidates for his business record. Although Trump has never filed for personal bankruptcy, he has reportedly filed for business bankruptcy at least four times. Trump responded to the criticism by arguing that businesses often have to file for bankruptcy and that filing for bankruptcy was a financially sound move each time he did it. In fact, during the September 16 Republican debate, Trump observed that “hundreds of companies” have done the same thing. PolitiFact, the Tampa Bay Times’ award-winning fact-checking blog, recently analyzed the claims, from both sides, about Donald Trump’s business bankruptcies in an article straightforwardly titled “Fact-checking claims about Donald Trump’s four bankruptcies.” The website found that there is validity to many of Trump’s points about business bankruptcy being in the best interests of companies. Trump has filed for business bankruptcy four times: the Trump Taj Mahal in 1991, Trump Plaza Hotel in 1992, Trump Hotels and Casinos Resorts in 2004 and Trump Entertainment Resorts in 2009. Each time, the bankruptcy was a Chapter 11 filing. While Chapter 7 and Chapter 13 bankruptcy deal with personal bankruptcies, Chapter 11 is most often used by businesses filing for bankruptcy. Chapter 11 bankruptcy allows a financially struggling business to reorganize in order to keep going.
That said, the entire SYSTEM needs to be re-examined. In the 21st century with the ability to do remote learning there is no reason why education should be as expensive as it is. That's especially true for state funded schools.
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