"Interesting proposal from Elizabeth Warren to cancel student loan debts, or at least portions of them.
I'm a little conflicted about it, but I think the idea has some merit.
One of the things that's dramatically different from when I was in school in the early 90's is the sheer amount of loan money available to kids today. I look back & I'm actually thankful that I wasn't able to borrow as much as they can today, because I'd owe more than I already do. So I didn't graduate with near the debt that alot of kids have today.
Couple that with serious increases in cost to attend college & there are plenty of kids graduating with serious, serious debt in their mid-twenties. Thoughts of buying a home or starting to invest in retirement are pipe dreams for alot of them.
So I don't know if her plan is necessarily the answer, but I think it oughta be at least a starting point for a discussion."
The lender lending money to people that it knows are never going to repay then canceling the debts and leaving the creditors, the taxpayers, on the hook would be doubly irresponsible. Warren knows this and if you don't know it then you're even more irresponsible.