Why Canceling Student Debt Should Be a Universal Benefit

Posted on AllSides June 18th, 2022
From The Left
Paul Morigi / Getty Images for We, The 45 Million
OPINION

Two major student debt stories have hit the headlines in recent days. First, the Department of Education announced that it is canceling $5.8 billion in loans held by 560,000 former students of Corinthian Colleges, Inc, a for-profit college chain that lied to and defrauded low-income students. Second, news outlets reported that President Biden is close to announcing a plan to cancel $10,000 in student loans for individual borrowers to address the $1.7 trillion crisis. This relief will likely be means tested—offered only to those earning less than $150,000 per year....

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