Student loan forgiveness has been a big part of the public debate (such as there is) for a little while now. I always encourage debate, and I’m all for student loan forgiveness. (After the financial services industry destroyed the world economy without facing any serious consequences, I’m actually for all personal debt being forgiven, but that’s another essay). But, why is all the attention on student loan forgiveness?
The student loan crisis isn’t a crisis caused by student loans. It is the result of decades of bad policy and bad decisions in education and the job market. It is the result of predatory lenders and lack of oversite. It is the result of super PACs and corruption. Shouldn’t the discussion be about fixing those things?
By all means, forgive the debt. We can afford it, easily. But, forgiving the debt won’t fix any of the actual, systemic problems. It would help millions. That’s great. It really is. But shouldn’t we be trying to help everyone?