Point: Canceling Student Debt Is One of Many Steps Needed to Restore the Promise of Higher Education
The president’s debt cancellation plan will help millions of borrowers who have fallen through the cracks of a broken higher education system.
Each year, the federal government makes billions of dollars available in loans to students pursuing a college degree or postsecondary credential. These loans are made under the guise of a higher education system that is still affordable and functional, includes a working and accurate repayment system, and provides access to high-quality institutions and a pathway to economic opportunity. But today’s outstanding student loan debt balance of $1.6 trillion shows this is no longer the case.
The above excerpt was originally published in InsideSources. Click here to view the full article.
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