All student debt in the US, visualized

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  • Published on:  Tuesday, August 6, 2019
  • What if all of this debt was canceled? This is what that would look like.

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    Student loan debt has increased exponentially in the past few decades. So now, some Democratic presidential candidates propose canceling those debts — all $1.6 trillion of it. But is this a good idea? Who exactly does it benefit?

    For more on student loan debt, read this Vox explainer on Elizabeth Warren's plan: https://www.vox.com/2019/4/22/18509196/elizabeth-warren-debt-free-college

    And this explainer on Bernie Sanders's plan: https://www.vox.com/policy-and-politics/2019/6/23/18714615/bernie-sanders-free-college-for-all-2020-student-loan-debt

    This piece explains why wonks don't like Sanders's plan: https://www.vox.com/policy-and-politics/2019/6/26/18760296/bernie-sanders-college-for-all-cancel-student-debt-warren

    And to get a wider perspective on the whole debate, Matt Yglesias breaks it down: https://www.vox.com/2019/6/24/18677785/democrats-free-college-sanders-warren-biden

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Comment

  • Oskar Schewak
    Oskar Schewak  22 hours ago

    The government economical garrantees have make it unafordable, no more Government intervention

  • Mario L
    Mario L  yesterday

    Can these politicians also pay off my mortgage since I don't have student loan debt? Banks are also ripping us off with interest. I'll vote for them if they pay off my mortgage!

  • Marcus J
    Marcus J  yesterday +1

    How many of those kids had a gun pointed at their heads forcing them to go to college?

  • Angela Martin
    Angela Martin  yesterday +1

    If you still don’t realize this, let me tell you: America is run by Corporations. It’s riddled with old money. Nobody cares about the middle and lower classes.

  • StarWarsIndiana
    StarWarsIndiana  2 days ago

    I feel like the statement that cancelling the debt would have no impact on those other people is false, as now the people with debt would have more money to spend monthly. I'm sure that would positively impact at least a portion of those who didn't go to college.

  • bcgrote
    bcgrote  3 days ago

    Sure, write off their debt, then 1099 them on their taxes for that year! Great idea!

  • DayChan Taylor
    DayChan Taylor  3 days ago

    Vote for Andrew Yang. UBI helps everyone not just a selected group.

  • jon meyerpeter
    jon meyerpeter  5 days ago

    what we should be asking is? what would happen to the people who loaned the money

  • FAST///M3
    FAST///M3  6 days ago

    😢😢😢😢😢I feel so bad for people who pulled student loans. Actually I do not. I have pulled a student loan and I paid it off. I did not expect to make a lot of money once I finished school but I lived and continue to live within my means.

  • 濱爆発
    濱爆発  6 days ago

    If America cancel student debt, someone must suffer a lose. Why no one care about them?

  • Nate d90
    Nate d90  7 days ago +2

    Sold my soul to the Navy to finish my BA, while already in debt $20k. Got my degree and also got a fun diagnosis for PTSD. Lost my diploma in a move and have to pay $75 for new one, plus shipping. MERICA!!!

  • AK216gaming
    AK216gaming  7 days ago

    Or you could live in West Virginia. Where you get about 1/3 of your college paid for in state, as long as you have like a 4.0 and maintain a 3.4

  • Cerebral Caustic
    Cerebral Caustic  7 days ago

    CalPers has a trillion dollar pension liability. Do a video on how unionized public sector workers are bleeding the state dry.

  • H Toner
    H Toner  7 days ago

    Should credit card debt be forgiven also? Maybe even pay for my car....why not my house. Here is a concept....if you don't want to pay for college then don't go to college.

  • Alec Collinsworth

    You could have just explained that it is about the fundamental argument that higher education should be taxpayer funded just as basic education is, because it is becoming increasingly necessary in a modern economy. They want to make higher education tuition-free, so the fair thing to do for those that have already taken out loans, and have been working for years to pay them off, is to forgive their debt. Why force people to continue to pay debts that no one else will have to pay from that point on? Especially when those debts are crippling for those that have to deal with them.

  • doof
    doof  7 days ago

    Well just don't get a loan

  • microesfera100
    microesfera100  7 days ago

    the problem is easy, do not get them the loan,

  • J Socks
    J Socks  7 days ago

    Maybe, just maybe people shouldn’t go to college. We all know a huge majority of people go to college to party and for the experience. If you can’t afford the loan and know that the job you will apply for wouldn’t pay enough to pay it off, don’t go to college. Or go to a community college, or trade school, or some other on the job training.

  • Financial Clinic
    Financial Clinic  7 days ago +8

    If politicians cancel student debt, I will go out right now and borrow $100,000

  • Trevor Thibodeaux
    Trevor Thibodeaux  7 days ago +2

    Why not promote trade school with the same enthusiasm as College?