More thoughts on cancelling student loan debt
First article published here: https://kyledackerman.medium.com/thoughts-on-cancelling-student-loan-debt-9034ec7ad37a
42.9 million Americans owe $1.57 trillion in student loans.
That comes to ~$35,000 per person.
The way to make this all make sense is to figure out if the federal government would be able to recoup the $35k over the remainder of the debtors life.
If it can, then we should do it.
ROI is really the only thing that’ll move the needle. People don’t care that human beings are being crushed by debt. There are literal concentration camps in China right now. Our government isn’t going to relieve student loan debt because they want to *help* their constituents… they’ll do it if it makes financial sense to do so.
Personally, I feel removing the $35k burden would allow that person to grow and blossom into the person they were supposed to. If that happens, it’s a massive win for our country. Stunting the growth of our young people only hurts our country in the long run.