What if all of this debt was canceled? This is what that would look like.
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Student loan debt has increased exponentially in the past few decades. So now, some Democratic presidential candidates propose canceling those debts — all $1.6 trillion of it. But is this a good idea? Who exactly does it benefit?
For more on student loan debt, read this Vox explainer on Elizabeth Warren’s plan: https://www.vox.com/2019/4/22/18509196/elizabeth-warren-debt-free-college
And this explainer on Bernie Sanders’s plan: https://www.vox.com/policy-and-politics/2019/6/23/18714615/bernie-sanders-free-college-for-all-2020-student-loan-debt
This piece explains why wonks don’t like Sanders’s plan: https://www.vox.com/policy-and-politics/2019/6/26/18760296/bernie-sanders-college-for-all-cancel-student-debt-warren
And to get a wider perspective on the whole debate, Matt Yglesias breaks it down: https://www.vox.com/2019/6/24/18677785/democrats-free-college-sanders-warren-biden
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So much ignorance
Then just don't go to college it's not that complicated
This is very unfair if you make all the other poeple pay for it
interesting thought but slim chance this will actually happen. They need to stop colleges from charging such high tuition
Not fair to the people who didn't take up the loan for whatever reason and does not have a degree , as a result.
It's got to be fair. Someway or the other.
It's kind of ridiculous and short-sighted to say that cancelling student debt, especially coupled with making more college and trade education/job training tuition-free, wouldn't help those white dots. Like think for second: Ok. Maybe some of the older generations who are running out of time to start new careers won't benefit so much, but for tons of people without higher education and for millions more children, cancelling debt and making more forms of higher education (including trade and job training) will absolutley help them out as well by making it easier for them to pursue those forms of education in order to expand their job horizon/opportunities dramatically
I they knew what they were going to get themselves into. The government shouldn´t pay their debt (rather give them 0 interest).
The money should flow into better education. First make sure that public schools are funded well and teacher payed a decent wage without having to spend it on pencils and paper for their students. Than tackle making college free for everyone.
laughs in European
Why not taking care of people's education and health first, and then deciding the military budget with the rest?
Interesting Video and wonderful graph design! I wish you make another video about the feasibility of these strategies.
What about people that work their way through college and paid as they went not taking out debt. do they get a check? ?