Student loan debt isn't going to go away just like that. Sorry, Bernie, you can't pull a Thanos and just snap 1.6 trillion dollars in debt away. As someone who has over twenty thousand in student loans, this sounds like a dream come true, but as a living, breathing, and thinking adult, this doesn't make sense.
The scope of higher education borrowing is vast. There are over 44 million student debtors. Other Democratic candidates have put forth proposals to make college cheaper and debt easier to repay. But Sanders is the biggest proposal.
"I don't often use the phrase, but today we are, in fact, offering a revolutionary proposal" that will let people "get all of the education that they need to live out their dreams," Mr. Sanders said in introducing his bill.
One part of the bill will make all undergraduate programs at public colleges and universities completely free. The hope is that it will stop students from taking out loans in the first place. But it would not eliminate future student debt.
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.
Either way, it's not going to happen and even if the bill passes the debt will have to be paid. This time in higher taxes and instead of one individual paying for their own debt, we are all going to have to share the debt and pay it all off together. Honestly, if I have to choose between the two, I'm gonna stick with my own debt.
I don't think it's fair that I or anyone else should have to take on someone else's debt and responsibility. There are a lot of students who owe hundreds of thousands of dollars in debt, not to mention the people who go to med school or law school.
What Bernie is proposing will just create a bigger issue and create bigger taxes that will affect everyone. I used to be a big supporter of Bernie but now I have to call a spade a spade. He's just pandering for votes. I'm disappointed, to be honest. If he pulls this off, I don't know if we'll just be able to snap it back.