Canceling Student Debt Would Cost About as Much as Pentagon’s F-35 Boondoggle

Source: Common Dreams
by Ashik Siddique

“The Biden administration has eliminated a major chunk of federal student debt, extending forgiveness up to $10,000 for all individual borrowers who earn under $125,000 annually, and up to $20,000 for Pell grant recipients. That’s a big deal — tens of millions of people can benefit from this debt relief. … The debt cancellation policy could go even further. As The Debt Collective pointed out in response to the news, this relief proves that the White House has the authority to cancel all federal student debt. Total student loan debt in the United States amounts to $1.75 trillion, including federal and private loans. That may seem like a lot of money, but the federal government already spends comparable amounts on plenty of items with much more questionable value.” (09/12/22)