Should we pay to cancel student debt?
That way, we could get a lot more people serving in the military or teaching in remote rural areas or practicing medicine there, doing public service and having some of their student debt canceled year by year. Yes, that puts us taxpayers on the hook for canceling student debt, but it’s not handing people a debt-cancellation freebie: It’s a trade.
Why is student debt so high?
While inflated college tuitions are part of the reason for the rise in student debt — average student debt is now up to $36,800 from $24,700 a decade ago — it bears noting that the number of students receiving loans to attend college has also increased.
Can the President cancel student loans?
Speaker of the House Nancy Pelosi (D-CA) and Biden have said the president doesn’t have unilateral authority to cancel student loans. Rather, Congress must pass legislation or otherwise authorize the president to act on student loan forgiveness. 3. Biden has shown no commitment to wide-scale student loan forgiveness