Intelligence Squared U.S. Presents: Forgive Student Debt CANCELED
Where: Florence Gould Hall
55 E. 59th St.
212-355-6160 Price: $40
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Americans owe an estimated $1.6 trillion – or nearly 8 percent of the nation’s GDP – in student debt. Many young borrowers credit burdensome loans as the primary reason they haven’t purchased a home, started a family, or reached the economic milestones of past generations. Facing growing discontent over the rising cost of higher education, prominent Democrats – and some Republicans – are calling on Washington to act. They argue that forgiving federal student debt would save a generation from financial hardship, boost the economy, and help combat inequality. But their opponents argue that these proposals are simply too costly. In addition to ballooning the federal deficit, canceling student debt would reward irresponsible borrowers and waste taxpayer money on those who are not actually in need. Is it time for a student loan bailout? Or are federal dollars better spent elsewhere?