Many of those interest rates have dropped a lot in the last 5 years while student loan rates are what they were when you took out the loans (4-7%, higher for grad loans). If you refinance, you can lose any benefits that were part of the government issued loans you signed up for.
Well, my daughter’s job is at Starucks, not Dunkin’. She likes to sleep indoors and eat occasionally so needs more than just a weekend of ‘extra’ money -it’s her income, not extra. Not every college grad makes $40k at their ‘main’ job and can just work a second job to pay for the extras.
The government doesn’t control all debt, but it does own and control SOME student loans. It can’t forgive auto loans or mortgages or credit card debt (or private student debt) because it didn’t issue those loans and doesn’t hold those notes.
If the loans are not forgiven, my kids will pay them, but they were promised (some) forgiveness in the last election. They believed those campaign promises and would happily accept the forgiveness if it arrives, no hard feelings for the delay. They would then pour that money back into the economy by buying food, paying utility bills, putting gas in their tanks. Until then, they appreciate the pause, giving one a chance to fix up her new house (and put money, lots and lots of money) into the economy and for the other one to get half way through grad school so she can someday get a job that isn’t at Starbucks.