Why we should not forgive student loans?
Forgiving debt of any amount is bad policy. It's unfair to people who have paid off their debt, to those who chose not to go to college, to people who went to college and now hold high-paying jobs, and it's unfair to future generations who will not have their debts forgiven.
Is student loan forgiveness a good idea?
Student debt is one of the most pressing modern-day crises with no clear solution in sight. Some advocate for widespread student loan forgiveness, citing increased economic growth, reduction of the racial wealth gap, and more, as reasons to implement this type of policy.
Is student loan forgiveness an abuse of the loan system?
Student loan forgiveness is an abuse of the loan system. People must be held responsible for their personal economic choices. A 2020 survey found 46% of Americans believe student loan forgiveness is unfair to those who have paid off their loans, and 39% believe it unfair to those without loans. [ 26]
Will the incoming administration forgive $50K in student loan debt?
Senator Chuck Schumer, the minority leader, and Senator Elizabeth Warren are pushing the incoming administration to forgive up to $50,000 a person in federal student-loan debt. That would completely eliminate the burden of three in four borrowers.