Do you have student debt?
This is a hindrance to people as they try to pay off thousands of dollars in debt for their excellent education…..this crippling debt keeps college grads from living the ‘good life’…..
There has been ideas to help people get on with their lives by lessening or cancelling student debt.
Some progressives are calling for the canceling of all student debt….the new president is calling for the cancellation of $10,000 of debt…..that figure is not nearly enough.
Forty-five million Americans now owe a total of $1.7 trillion in federal and private student loans.
For many people, that debt is the biggest drag on their adult lives. It prevents them from buying a home or starting a family or investing in their future. They are stuck in a perpetual loop.
This crisis has led to calls to cancel all that debt and liberate an entire generation of Americans — something I instinctively support. But when you start to think about all the obstacles and trade-offs, you quickly realize how politically fraught such a proposal would be. Is there any way to do it fairly? What about the millions of people who spent decades paying down their loans? And what about the people who didn’t go to college because they didn’t want the debt — how would this land for them?
So I reached out to Astra Taylor, documentary filmmaker and author of the 2019 book Democracy May Not Exist, But We’ll Miss It When It’s Gone. Taylor has become a leading advocate for debt forgiveness, and she treats it as not just an economic problem but as a small-d democratic problem. We talk about why that is and how it shapes her argument.
A total cancellation of student debt could be fuel for the economy….it would put $1.7 trillion dollars into the economy…..and that would be a huge boost across the board.
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