American Students Need More Than Loan Forgiveness
News of President Biden's Student Loan Forgiveness Program, in the amount of $10,000-$20,000 per borrower, is a welcome fulfillment of one of the President's most well known and oft-cited campaign promises. With over $1.7 trillion dollars collectively owed in student loan debt across the nation, our higher education system has produced an unstable debt bubble slowly eating away at the economic progress and upward mobility of the American people. From holding off on having children to being unable to afford mortgages on their first home, student loan debt is saddling entire generations with a burden that's only getting worse. While the positive personal and economic effects of this debt forgiveness program will likely be felt for years to come, the program's very existence reveals a much deeper and wider problem with how higher education is structured in the modern United States. Back in the early 1960's, one could attend a community college full-time for an average ...