The Basic Unfairness of Forgiving Student Loan Debt
(Leisa Thompson/The Ann Arbor News via AP, File) One of the major flashpoints in Congress and the nation over the next year will be schemes to reduce or eliminate student loan debt. Senator Elizabeth Warren says Joe Biden has a “moral obligation” to cancel student debt. Her plan would forgive student loans for about 95 percent of debtors by canceling up to $50,000 of an individual’s indebtedness. Other Democrats want to cancel all student loans. The moral hazard in canceling any debt is obvious — especially since the next generation of students is likely to pile up even more debt cons...