Acknowledge that total debt cancellation is not going to be feasible anytime in the immediate future and that we need more robust and attainable solutions to this crisis.
We need to make it a priority to end all interest on student loans from our government.
Our next priority is to erase or wholly extend the burdensome time structures that are attached to these loans. This means borrowers would not have the crushing time pressure to pay back their debt.
Let's just be realistic and focus on what we all really want. A reasonable, long-lasting, life changing solution that benefits our entire society. That's what our solution provides. We're never going to have the opportunity to tell students that their debts have been "magically wiped away", but we can legitmately provide a new era of student loan conceptualization that prioritizes the borrower, and allows them the maximum flexibility to achieve the most without simultaneaously inflicting irrevocable harm that ultimately undermines all their efforts. Imagine being able to tell current students, and graduates saddled with mountains of debt that "your interest payments are being applied to your prinicple" and "you can now relax and take the rest of your life to pay back your balance...interest free". Now imagine being able to tell that same thing to every future student considering taking out a loan to gain a higher education. Then you'll be recognizing the real long-term benefits to our society of fully engaging a much higher percentage of young people into higher education.
First of all, this is a complicated issue, so to go further into detail, you'll need to click the box below. But, we wanted to give you the very simplest version and the broad strokes of how we could easily resolve this problem. There are basically 3 thing everyone needs to know.