The Case for Student Loan Forgiveness

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by Lance Waverly | Last Updated: September 22, 2017

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The Case for Student Loan Forgiveness

Student loan debt is the second highest debt category, right behind mortgage debt

50% of 18 to 34-year-olds say that they would give up the right to vote in the next two elections to have their debt forgiven

Luckily, some student loan forgiveness programs can ease the burden by forgiving some or all federal student loans

Despite the popularity of these programs, some debate how much they really help

Student debt may never be wiped out, but forgiveness programs can ease the burden on over 44 million students―and maybe help them reclaim the American Dream

Sources:

https://studentloanhero.com/student-loan-debt-statistics/

https://www.valuepenguin.com/average-student-loan-debt

https://www.makelemonade.co/student-loan-debt-statistics

http://www.businessinsider.com/americas-student-loan-debt-facts-2017-4

https://www.usnews.com/news/articles/2013/08/06/half-of-outstanding-student-loan-debt-isnt-being-repaid

https://www.credible.com/blog/survey-millennials-student-loan-debt-forgiveness

https://studentloanhero.com/featured/holiday-debt-spending-survey/

http://www.pewresearch.org/fact-tank/2017/08/24/5-facts-about-student-loans/

https://www.aicpa.org/press/pressreleases/2016/pages/-more-than-eighty-percent-of-american.aspx

http://www.investopedia.com/articles/personal-finance/122416/student-loan-forgiveness-how-does-it-work.asp

https://www.nerdwallet.com/blog/loans/student-loans/student-loan-forgiveness/

https://beta.consumerfinance.gov/ask-cfpb/what-is-public-service-loan-forgiveness-en-641/

https://www.collegeraptor.com/paying-for-college/articles/student-loans/pros-and-cons-of-student-loan-forgiveness-programs/

http://msue.anr.msu.edu/news/student_loan_forgiveness_understand_the_cons

http://www.asa.org/wp-content/uploads/2017/06/life_delayed_whitepaper_2015.pdf

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/student-loan-assistance-benefit.aspx

https://www.forbes.com/sites/zackfriedman/2016/12/19/student-loan-repayment-benefit/#11d787fa1d6f

https://moneytips.areavoices.com/2017/07/24/moneytips-survey-americans-believe-we-should-forgive-all-federal-student-debt/

https://www.cnbc.com/2017/03/14/more-than-11-million-borrowers-defaulted-on-their-federal-student-loans-last-year.html

Lance Waverly is the director of news at Refinance Student Loans. He previously was a freelancer at College Reviews