Making taxpayers assume student debt might score short-term political points but doesn't address the underlying problem: why college costs so much while delivering so little.
ByEdward Chang December 4, 2020
Calls for Joe Biden to force taxpayers to pay off some or all student loan debt upon assuming the presidency have elicited strong opinions on all sides. While a broad consensus says the cost of higher education in the United States is too high, a large number of Americans deem it a great injustice to have to pay off debt others have willingly taken on.
Another large number of Americans feel their student debt has stunted their economic and financial viability, preventing them from purchasing homes and starting families. For others, there remains a stinging regret that the costs were simply not worth the benefit.
As with most hot-button topics, there’s a lot of hyperbole and overheated rhetoric about student debt. In truth, many of the relevant facts run counter to conventional wisdom surrounding the issue. For example, most Americans might be surprised to learn the college-graduate-turned-barista isn’t a thing.
Few People Owe Six Figures in Student Debt....
A Give-Away to the Upper-Class....
Yes, Your Major Matters.....
No Risk, No Reward....
Can We Just Forgive and Forget?
Given the facts, is student debt a genuine crisis? Or, is it just a case of millions suffering a collective buyer’s remorse?.........The question of debt forgiveness pertains to whether society holds any obligation to relieve others of their contractual obligations. The real crisis demanding redress, however, is why college costs so much while delivering diminishing returns. Forgiving debt might score political points in the short run, but should never be confused with solving the underlying problem..........Making taxpayers assume student debt might score short-term political points but doesn't address the underlying problem: why college costs so much while delivering so little...........To Read More....
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