Student Debt Forgiveness Sounds Good. What Might Happen If The Government Did It?
It could boost the economy, but experts say that not all plans to wipe out student debt increase racial and economic equity.
Americans owe about $1.6 trillion in student loan debt. That's about twice the current budget for the Defense Department and around 22 times the budget for the Education Department.
About one in every six American adults owes money on a federal student loan. So it makes sense that candidates for the 2020 presidential election have proposed ways of dealing with this debt to allow millions of Americans to move on. Their proposals vary.
Sen. forgive "up to $50,000 in student loan debt for 42 million Americans." Her plan would cancel up to $50,000 in debt for
