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Manhattan Institute

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Actually, Most Millennials Aren’t Drowning in College Debt

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Actually, Most Millennials Aren’t Drowning in College Debt

The Boston Globe September 2, 2019
EducationHigher Ed

Earlier this year on the presidential campaign trail, Senator Elizabeth Warren of Massachusetts laid out her higher education platform, including a student loan jubilee and free college. In the Medium article announcing her vision, she claimed that “the result [of rising college costs] is a huge student loan debt burden that’s crushing millions of families and acting as an anchor on our economy.”

Soon after, Senator Bernie Sanders of Vermont followed with a generous plan of his own, echoing the alarm conveyed by Warren. He explained: “[My plan] forgives all student debt and ends the absurdity of sentencing an entire generation to a lifetime of debt for the ‘crime’ of getting a college education.”

These presidential hopefuls are promising to spend trillions of taxpayer dollars to bail out a generation of young people drowning in debt. A worthy aim — if it were true.

Continue reading the entire piece here at The Boston Globe (paywall)

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Beth Akers is a senior fellow at the Manhattan Institute and a former Council of Economic Advisors economist. Follow her on Twitter here.

Photo by zimmytws/iStock

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