What About Tackling the Causes of Student Debt?
Kevin Carey, The New York Times
President-elect Joe Biden recently expressed support for legislation that would forgive the first $10,000 of anyone’s student loan debt. But with Democratic control of the Senate in doubt, the odds of major legislation are uncertain. That’s why some are now pushing the incoming administration to use executive action to unilaterally forgive loans.
While the legality of such action is up for debate, a bigger question looms: What happens if we forgive student loans without changing the system that produced them in the first place?