Skip to comments.Bernie Sanders proposes forgiving the student debt of 45 million Americans [$1.6 trillion]
Posted on 06/24/2019 11:38:59 AM PDT by BenLurkin
The proposal goes further than fellow Democratic candidate Elizabeth Warrens plan, which caps student debt forgiveness at $50,000 and offers no relief to borrowers who earn more than $250,000.
Outstanding education debt in the U.S. has eclipsed credit card and auto debt. Today the average college graduate leaves school $30,000 in the red, up from $10,000 in the 1990s, and 28% of student loan borrowers are in delinquency or default.
Sanders plan would make two- and four-year public colleges and universities tuition- and debt-free. Trade schools and apprenticeship programs would be tuition-free, as well.
Sanders is introducing the legislation with Rep. Ilhan Omar, D-Minn., and Rep. Pramila Jayapal, D-Wash., the co-chairwomen of the Congressional Progressive Caucus.
The $2.2 trillion plan would be paid for by a new tax on financial transactions, including a 0.5 percent tax on stock transactions and a 0.1 percent tax on bonds. That levy would raise up to $2.4 trillion over the next decade, according to the senators office.
(Excerpt) Read more at cnbc.com ...
Are they going to reimburse all those who have made payments on their student debt or paid off their loans?
If not, this will create lots more Republicans and conservatives. The old saying is “A Conservative is a Liberal who was mugged.” Maybe that needs updating to “A Conservative is a Liberal who got stiffed on his student loan.”
Well. Bernie thinks he needs to buck up the student vote that he had in his pocket in 2016.
Not to mention the kids who worked many jobs to pay for their own education.
Young people should realize that Bernie has as much chance as becoming President as Santa Claus.
Borrow like you will be expected to pay it back in full, with interest.
They should “forgive” all the Deplorables for voting for Trump by sending every single one of them a half million. That should buy lots of Democrat votes.
There are in excess of 100 Universities sitting on nearly $500,000,000,000.00 in EHDOWMENTS. Endowments help by all Universities likely approach $1 Trillion dollars.
ANY program to address TUITION debt MUST start with these “Billionaire” institutions who grow richer by the day.
SLAM DUNK for Republicans and Trump. Address crushing student debt and target the LEFTISTS who are responsible for it.
I paid my student loan debt off. Now I have to pay for everyone else so that they don’t have to. I want a refund.
Idiots, they won't make good communists.
"Recent research has found forgiving student loan debt would raise Gross Domestic Product, add more than one million jobs and increase small business formation and homeownership rates."Wow, is there anything it can't do? Can it stop Climate Change?
“Bernie thinks he needs to buck up the student vote that he had in his pocket in 2016.”
The Bernie plan would cost about $100,000 per added vote for Bernie.
Hey Bernie, I went to college 40 years ago and paid all my bills. Can I get a refund?
This has been the plan since Obama and his Bots.
I heard real stories from Bots who were telling people to work for non-profits as private funds were available to pay off their loans.
I guess the private funds have dried up.
If you want to see how stupid this idea is, substitute “expensive car” for “college degree”
The intended goal of this is to lure 45 million people, most of whom have given up any hope of being able to pay these loans off, out to the polls to pull the D lever.
In that regard I suspect this will be very successful.
I’ve used Bing to find the tuition rates at many famous private universities.
The tuition rates seem to generally exceed $50,000/year.
Then everyone gets to live in a government housing project just like in Russia. No worries and plenty of Vodka.
Many of them are probably working and have a 401k. So, Bernie is going to forgive their debt and charge them for their investments in the market. This guys is a whiz.
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