Eliminating student debt would be a terrific economic stimulus program

One oft-heard critique is that canceling existing debt would be unfair to families that valiantly paid off their college loans, often making real sacrifices, and now have to sit by and watch deadbeats receive a windfall.

Another objection with at least a superficial logic is that a program to cancel student debt will necessarily be regressive, benefiting the wealthy more than the working class. The Bard survey adds that the picture of the typical borrower has changed dramatically in recent decades. Borrowers were once “traditional students,” the survey notes — those attending private universities and professional schools without a break after high school, “often with a family history of higher educations and with the family wealth to accompany it.”

“Minority borrowers,” Bard says, “take on more debt and have more trouble paying it off.” For them, borrowing for college tends to widen racial disparities in the credit and job markets, producing lower family wealth. The student debt crisis, in other words, is both an artifact of and contributor to wealth inequality in America. What’s worse, a high student debt burden makes those borrowers much more vulnerable to the effects of an economic downturn.

Sanders would eliminate all existing debt for everyone. He would cap the interest rate on future undergraduate loans at 1.88%.

hiltzikm Bernie supporters are the laziest group, who told you to major in Sociology or Chicano Studies? Evangelicals Trumpists are crap too, but at least they didn’t acquire student debt because they never went to college/university.

hiltzikm Why of course it would!

hiltzikm So I have to pay off someone else’s college loan? NO THANK YOU!! Get a job you bums!

hiltzikm That means millions of free- loaders get free state scholarships while the many who struggled to pay get fuct. (Supreme Court approved descriptor).

hiltzikm Who’s doing his math ? I imagine the lenders will want their money , I doubt they will excuse payment. Taxpayers will be left holding the bag

hiltzikm just buying votes. or trying to.

hiltzikm He's desperate because he's tanking in the polls.

hiltzikm What a load of shit

hiltzikm Can I get some of these free Bernie bucks for the 10s of thousands in student debt I already worked a decade to pay back?

hiltzikm And then, bc the government is backing most all of this is some fashion, universities will charge more and students won't care bc the government will handle it! Until it stops handling it.

hiltzikm

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bernie Sanders calls for canceling $1.6 trillion in student loan debtU.S. presidential contender Bernie Sanders proposed a plan on Monday to cancel $... yeah sure fine, just add another Trillion or so to the federal deficit, nobody cares too much right, just issue more bonds and get the FED to buy them to prop up the markets...all fine...until it isn't putin puppet distracting from flynn So it's a bailout of rich lending companies?
Source: Reuters - 🏆 2. / 97 Read more »

Sanders wants to cancel all student loan debt, even for the wealthySanders would pay for his higher education plan by imposing a new tax on Wall Street transactions. Where the hell do they think the money is going to come from? I can tell u, it's our wallets. So screw everyone else that have busted their humps working two jobs 2 pay off their student loans only 2 see others get it free?😤 . Wallstreet got a GOVERNMENT bailout........just because . reparations2020 ados only BasicIncome $8,000 a month StudentLoanDebt cancel raisethewage $75/hour Medicare4All free
Source: politico - 🏆 381. / 59 Read more »

Bernie Sanders expected to propose a bill cancelling all student debtHe’s the latest Democratic candidate for president to back student-loan cancellation What about future loan? Free giveaways are bad for economy. Where is the accountability? Yeah his bill is to 'tax wall st'....except Wall St isn't some amorphous entity. His plan is to asses all stock and bond transactions. Basically if you buy stocks, or bonds YOU will pay the tax. So he's punishing those of us who save for retirement and invest to rescue others. if he does it now- he has to do it forever. otherwise “it wouldnt be fair!” so what does that mean? as long as ur in school u can “borrow” as much money as u want- and bernie will just cancel your debt SOUNDS AMAZING! im about to re-enroll right now just thinking about it!!!
Source: MarketWatch - 🏆 3. / 97 Read more »

Student Loan Debt Almost Stopped Jessica Cisneros From Running For Congress.JCisnerosTX, 26, is running for Congress in Texas’s 28th district—no matter what walls stand in her way JCisnerosTX
Source: MTVNEWS - 🏆 479. / 51 Read more »

Where Does Joe Biden Stand On Student Loan Debt?He's released just one proposal on student loan debt so far. But what about his past? Joe probably doesn’t know students have loans! We already know. *student debt collectors are not the enemy. In my day we paid the 75 dollars* something like that.
Source: Forbes - 🏆 394. / 53 Read more »

This workplace perk helps you pay down your student debt and saveMore employers realize how hard it is to save for retirement while paying off student debt — and are trying to help. However, there's still a tax hurdle that will likely stall the growth of student loan assistance benefits.
Source: CNBC - 🏆 12. / 72 Read more »