Democratic Senators Elizabeth Warren and Chuck Schumer are calling on the president to cancel student debt.
Though the Senators framed the resolution as a way to provide relief to struggling Americans during the coronavirus pandemic, the resolution also situates the proposal as part of curbing the nation’s student loan challenges more broadly. During her campaign for the Democratic nomination, Warren proposed cancelling up to $50,000 in student debt for borrowers who earn up to $250,000. Senator Bernie Sanders, an Independent of Vermont who also ran for the Democratic nomination, vowed to cancel all of the nation’s outstanding student debt as part of his presidential campaign.
The difference in these plans reflects debate over whether and how to best to target student loan relief. Some critics of broad-based debt cancellation, of the type Sanders called for in his original proposal, have argued that it would benefit highly-educated borrowers the most — at least in dollar terms — because graduate school tends to produce the highest debt balances.
There’s evidence to indicate that cancelling student debt would provide a boost to the economy by allowing borrowers bogged down by their debt to spend on houses and cars and take steps to make more money.
They are both Americans hater so of course they will come up with this crap
not with my money
That would be theft. That is the largest asset of the American taxpayer. They are idiots for even suggesting it. What is the difference if the government paid off 50k of mortgage debt for select college grads? Nothing? It’s political pandering and dangerous. It’s not their money
Drain the swamp
Trump never
God I’m so split on this lol. On one hand you signed the mother fucking papers for the loan, figure it out dipshit. On the other hand tho... student loans are so predatory it’s disgusting. If the lenders ate the debt and the whole thing collapsed, I’d sit back and laugh
Think you will have a lot bigger issues on your hands.
Election fodder.
do all of us WHO PAID their student loans, get refunded? or this this just for the whiney snowflakes of 2020?
Loan program needs to be revamped at least.
Will theft from taxpayers be 'a major issue'?
So if we paid for our kid’s college through hard work and sacrifice, do we get $50,000?
Is Senator Warren still indigenous?
How about deducting $50000 from my mortgage ?
I believe most people believe a loan is a loan. At least make an effort and do your best. If you need a net, then there should be a net. Chuck and Nancy are doing what Democrats do best, pandering for votes.
Democrats need to explain where federal funds over the years were not used to help improve impoverished conditions in major cities that breed outrageous crimes if they want to appear as honest and trustworthy leaders who will do better if elected.
College tuition is a simple scam between the banks, universities and federal government. They all get paid, Americans go broke and they ain't never gonna stop.
The first step should be to significantly reduce the interest rate, not cancel it completely. Payments should go to principle, not interest. The problem is that people cannot make any progress on the amount owed.
We need reform on the cost for college.. it’s ridiculous the price of college. This is a must! Why is college so high? I graduated in 2004 and the cost was so much lower. This must be fixed!
Figures. As soon as mine is finally paid off. In the spirit of equity I will take the $50k pay back
Hint: the federal government does not have any control over student load debt.
So, should I have my kids each take out 50k even though we have saved for college? Seems like a prudent hedge?
Let me know when you're doing this so I can take out 50001 in student loan debt. Such a terrible idea. Marketwatch has become such garbage.
Where do I get my refund?
For those that paid, a 50k check?
These two need to fill out their ID10T forms. 😐
Democrats must work with GOP on a relief package. Stop playing politics and holding normal people hostage.
Don't borrow money if you can't pay it back. Bunch of bums
The Feds should save everyone. Cancel all debt. Free money to all! Go in debt, don’t worry! The government will bail out your stupid decision. Warren and Schumer are morons.
For so many intelligent politicians in Washington, there is no balanced/forward thinking. Education come at a cost to all citizens who choose to participate in an unjust/unequal society in this great country! Please consider those students who have already payed off their loan.
Nice. Can’t wait to see my $50,000 reimbursement for the loans I’ve already paid off!
I heard you only get the money if you didn't finish your degree.
Dumb dumb dumb. Are they pulling the money out of their asses
And what happens to those of us who made a great financial effort to pay for our kid's education?🤔
Ok. I look forward to my 50k credit as well.
So does everyone get 50 grand to go to college going forward? I guess people who paid loans they took out were suckers I guess.
What we need is to give better financial advice. I guarantee you Ivy League / Private school grads and Public State College grads get hired by the same companies and the difference between the two is $200k in debt.
Whatever happened to the good ole days when ideas were floated between politicians behind closed doors. Their feasibility (costs) discussed. THEN announced or not. Oh, I forgot , this is an election year!! Im all for it , if we can afford it. Im old fashioned.
That’s going to be a hard pass on that. I had to pay all of my student loans off.
Where do I sign up for my 50k refund ? I mean I paid my loans finally after like 20yrs of working and saving so I assume they mean to refund all the borrowers there’ve ever been right? 🤑
Pretty sure they both have $50k they can use to pay off the loans. The done need more tax money.
If Trump can declare bankruptcy 6x ? A student loan should be able to be adjudicated in bankruptcy. Only If Market Watch actually believes in a, so called, free market Free for Hedge Fund managers , students ? No so much
Who is paying the $50k?
How about those who paid their tabs
It's a pander-mic! Pandering to deadbeats
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.
Source: washingtonpost - 🏆 95. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »