If we cancelled all student loan debt today, based on the current student debt growth rate, we’d be back in the same place in ~10 years. The debt is a only a symptom of a much deeper disease.
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Which in turn implies that cancelling student debt would be not merely ineffective, but dangerous, because it would mask the underlying problem.
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Would help if the government stopped subsidizing the loans.
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Which is...income inequality and the lack of social supports broadly for people to have access to education due to a bad tax system. Hooray Paul!
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Which is, if we expect people to contribute to society, why do we put such a high price tag on their admission to being contributors.
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There are plenty of ways to contribute without getting a University degree. We have this idea that degrees are the only way. "When a measure becomes a target, it ceases to be a good measure." I believe this has happened with higher education graduation rates.
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It’s rebooting instead of root causing.
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I’m glad to hear you support universal free college, Paul. Welcome to the Bernie team, comrade
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Not sure this solves the problem. This would just socialize the cost. Costs would balloon even faster.
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It would exacerbate it. Students would be willing to take on even more student debt because there’s now always a chance the government could just forgive it. It might be a short-term stimulus, but makes the underlying fundamentals worse.
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