Canceling Debt Is a Start—but Only a Start
The uniquely American experiment since the 1980s of viewing college as mainly benefiting graduates and passing rising expenses along to students and families has been a costly failure, recent Public Agenda–USA Today polling suggests.
The decision by the Biden administration Wednesday to address college debt-financing woes by canceling up to $10,000 in student loan debt for borrowers making under $125,000, and up to $20,000 for individuals who’d received federal Pell Grants to attend college, underscores the consequences of decades of misdirected policies.
Originally published: August 25, 2022
Author: Jamie Merisotis
Institution: Lumina Foundation
Published by: Inside Higher Ed