Many of these issues, unfortunately, are never highlighted in this discussion. I also have a problem with Bernie’s logic here too…you can be against the tax cuts while also disagreeing with this particular stance on loans. One consideration that has to be made is how inequitable this kind of loan forgiveness would be for a lot of borrowers, and that forces us to look at the bigger picture of equity in higher education.
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Degrees have value, both for their program of study and the institution itself. Simply wiping away student dept could disproportionately benefit those who are privileged enough to attend top tier institutions…yes, it would also benefit those students who attended state universities, but it widens an already wide gap. The reality is that individuals with degrees from top tier institutions have more marketability in the private sector and are more likely to be higher earners.