Total student loan forgiveness proposals are a bad idea. While loan forgiveness itself has purpose, the details of these proposals leave something to be desired.
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Whether forgiveness plans are realistic or not remains to be seen, but one thing is for certain — these"total" student loan forgiveness plans are mostly a bad idea. Plus, true forgiveness in Warren’s world is only granted to those who strive not to climb the corporate ladder or work toward a career that puts them in the top 5% of earners in the U.S. The Massachusetts Senator, which you can read to find out that every household with an income under $100,000 would have up to $50,000 in student loan debt forgiven.
Finally, households who earn more than $250,000 will have no loans forgiven. You know — households with doctors, lawyers, and top-level managers who may have spent a decade in school to earn advanced degrees. Or entrepreneurs who risked everything to build successful businesses from scratch.
“Politically, they are not feasible,” he said. “One reason why is because student loan forgiveness can be a hot button issue for many.”
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