There are about $1.25 trillion of outstanding federal loans right now, which is more than a year’s worth of Social Security spending, or enough to fund the federal block grant for Temporary Assistance for Needy Families, aka welfare, for about 78 years. But more importantly, across-the-board student-loan forgiveness would be an incredibly regressive way of dealing with debt. And typically, trillion-dollar spending programs that disproportionately benefit relatively affluent college graduates aren’t high on progressives’ to-do lists. Or they shouldn’t be, anyway.
http://www.slate.com/blogs/moneybox/2016/08/15/mass_student_loan_forgiveness_is_a_terrible_idea.html
