Bernie Sanders and Elizabeth Warren are promising massive cancellation of student debt. There is around $1.5 Trillion in outstanding educational debt and 1-in-8 Americans are currently paying off educational loans. These loan forgiveness plans are promoted in the name of fairness, broader opportunity for the middle class and working class, and reducing inequality. The costs … Continue reading Misleading statistics on college debt forgiveness
Category: Elizabeth Warren
‘IRAs for all’ vs. college debt forgiveness
Elizabeth Warren and Bernie Sanders have proposed massive college debt forgiveness programs. I am not in favor of these proposals, largely because of the general unfairness of having taxpayers subsidize people who have attended expensive private colleges or made other costly personal education choices. This is unfair to families that scrimped and saved or made … Continue reading ‘IRAs for all’ vs. college debt forgiveness
The fairness of college debt forgiveness
On April 21st, I published a blog post arguing that educational debt forgiveness is largely untenable, even ignoring the cost. As it happened, I had already written the post when presidential candidate Elizabeth Warren announced large-scale debt forgiveness as a major part of her platform. There are myriad problems with debt forgiveness but the most … Continue reading The fairness of college debt forgiveness
Public policy and student debt
The United States has a growing problem with student debt. The total of all outstanding student loans is now above $1.5 Trillion. Politicians and others have proposed solutions to managing educational debt, but there is too little discussion of the practicalities. There is no question that we have a major problem and that many young … Continue reading Public policy and student debt
Geoff Considine on Finance and Economics 