February 23, 2021

5 Reasons To Support Student Loan Cancellation

5 Reasons To Support Student Loan Cancellation

Here are 5 reasons to support student loan cancellation.

Here’s what you need to know.

Student Loans

In the ongoing debate about student loan cancellation, each side has made arguments to support their position. The following arguments have been proposed by supporters of wide-scale student loan forgiveness. Here are 5 reasons to cancel student loans:

1. Student loan cancellation will stimulate the economy

Sen. Elizabeth Warren (D-MA) says that cancelling student loans will help stimulate the economy. As Americans are hurting from the Covid-19 pandemic, they are also struggling with $1.7 trillion of student loan debt. By cancelling student loans today, this would free up money for student loan borrowers to spend in the economy. They could buy a home, spend money with small businesses, and invest in their communities. In aggregate, this would help stimulate the economy and support other economic relief like stimulus checks and unemployment benefits.

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