Should We Forgive Student Debt?

Facing growing discontent over the rising cost of higher education, many prominent Democrats – and some Republicans – are calling on Washington to cancel the approximately $1.6 trillion Americans currently owe in student loan debt. Supporters see debt forgiveness as a necessary step to safeguarding the nation’s financial future and combating inequality in the education system. But others argue that this blanket policy would balloon the federal deficit, reward irresponsible borrowers, and waste taxpayer money on those who are not actually in need. Is it time for a student loan bailout? 
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