Canceling student debt doesn’t make problems disappear

Source: Kevin Carey, N.Y.Times (Paid Registration)

Both Senator Bernie Sanders and Senator Elizabeth Warren, who is sponsoring a separate bill, have proposed making all undergraduate programs at public colleges and universities free. That would reduce the need for borrowing. But it would not eliminate future student debt — not even close.

That’s because most student loan debt isn’t taken out to attend undergraduate programs at public colleges and universities. Most loans are used for private colleges, for-profit colleges and, most of all, graduate school.

 

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