For the past few years, a handful of economists and politicians have advocated for cancelling student debt.As part of her campaign for the Democratic nomination for president, Sen. Elizabeth Warren of Massachusetts released a proposal that would provide significant student-loan relief for a large share of borrowers.
Warren’s proposal to address student debt and college affordability is the most dramatic to emerge in the presidential contest. Most of her opponents have expressed support for some sort of tuition-free college, but none has discussed large-scale debt cancellation. Who would benefit from Warren’s benefit? Over the past several years, critics have derided proposals to cancel or make student debt less onerous because they worried that the benefits would flow largely to those with the most debt. That often means borrowers with the highest incomes: Think health care professionals or others with six-figure debt, but also high six-figure salaries. By tying the debt cancellation to income, Warren’s plan may address some of those concerns.
‘The student-debt crisis is the direct result of this failed experiment’ Warren framed her proposal as a necessary antidote to policies from both the federal and state government, which has shifted the cost of college away from these entities to students and families over the past few decades. In addition to the more headline-grabbing provisions, Warren’s proposal also includes elements that reflect her history as one of the fiercest critics of the student-loan and for-profit college industries. For example, she’s proposing punishing student-loan companies and executives when they violate the law and cutting off for-profit colleges from federal financial aid.
What will the super rich do?
Harvard has a 30 billion dollar endowment they teach on the side
Let’s tax Libs in Universities/Colleges who have billions in endowments&pay virtually NOTHING in taxes.Redistribute taxes on the absurd endowments&assist those who don’t qualify 4 “elite” schools. Then focus on absurd costs to run schools,something bro & his Czars totally ignored
Every Democrat is financing their 2020 'FREE STUFF' program by taxing the 'super rich'. She has ZERO chance of the nomination so it's hard to take her seriously.
And what of all those suckers who saved or sacrificed to pay off the student debt they willingly took on ? Do they get their money back or just the irresponsible parties do ? studentdebt
Elizabeth Warren is a living example of the mental midgetry of Socialism, and why it fails: eventually, you run out of other peoples’ money (Credit: Margaret Thatcher).
I never understood why it's 'greed' to want to keep money you've earned, but not greed to take someone else's money.
This is unfair to responsible people who paid off their student loan. Just another Dem buying votes.
Does she even understand how much a trillion dollars really is? There are not enough super rich to pay that price tag. Problem with people who never created wealth they have no clue what it takes to make enough to pay the bill. All they know it tax more.
Or how about we change the college system so that jobs that should require less schooling, actually require less schooling.
RobinHood politics is the only solution every politician has. Take from someone to give somebody else. When anyone tells me we’ll tax ONLY this guy but not that guy, I’m not buying it. The end? Everyone’s pay. It’s be called “fairness”. There’s got to be a better plan. uspoli
Ha, well this is bullshit. I didn't go because I didn't have the money, so I get 50000 to blow on school now?
'cancel student debt' - what a pandering detestable politician! How about we 'cancel' folks' credit card debt while at it? Or we 'cancel' their mortgages? 🙄 All you're doing is making folks irresponsible and redistributing income of those who already pay the majority of taxes.