Forgiving student debt would boost the economy, say experts

Posted on January 16th, 2020

Student debt is at over $1.6 trillion. That’s a lot of money that needs to be paid back to the federal government, lenders and college.

But what if it didn’t have to be paid back? Where would it go?

Why student debt should be forgiven

According to economists, it would go toward spending, like purchasing homes, cars and other necessities. All of this would help boost the economy, they say.

Currently, only one presidential candidate, Bernie Sanders, is proposing forgiving all student debt. Is it the right choice?

Right now, many Americans, particularly those in the millennial age bracket, are postponing major life decisions, like getting married and purchasing a home, due to their student debt. But removing this debt would encourage millennials to make these steps forward, boosting the housing market, among other things.

Listen to NPR’s special on student debt forgiveness and let us know your thoughts in the comments below.

Category: Student Loans & Repayment

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