Cancel all student debt? No.

[Kron3007]

Yet Ironically the big banks had how many billion in bail outs?

And the auto industry! But what does that have to do with student loans?

A lot.

[Diogenes]

Yet Ironically the big banks had how many billion in bail outs?

And the auto industry! But what does that have to do with student loans?

A lot.

Yep. It has to do with who has lobbyists and campaign money, or not.

There is only one bona fide  grassroots lobbying group I know of (the Association of Young Americans) that is actually trying to lobby for loan reform.

The most interesting thing here is that even Rand Paul put forward a bill to ease the student loan debt. When both Bernie Sanders and Rand Paul see the problem, this could be solved....

[pigou]

The auto industry bailout ended up costing $9bn and TARP ended up making a profit of $15bn.

Sanders' proposed loan forgiveness plan costs $1,600bn.

This isn't just a difference of orders of magnitude, it's also an actual payment/transfer and not a loan -- so it's an entirely different category of policies.

[Stockmann]

The auto industry bailout ended up costing $9bn and TARP ended up making a profit of $15bn.

Sanders' proposed loan forgiveness plan costs $1,600bn.

This isn't just a difference of orders of magnitude, it's also an actual payment/transfer and not a loan -- so it's an entirely different category of policies.

If memory serves $1,600 bn is over a third of the entire US federal budget.

[Kron3007]

The auto industry bailout ended up costing $9bn and TARP ended up making a profit of $15bn.

Sanders' proposed loan forgiveness plan costs $1,600bn.

This isn't just a difference of orders of magnitude, it's also an actual payment/transfer and not a loan -- so it's an entirely different category of policies.

I'm no expert, but it seems that not everyone agrees on these facts.

https://mitsloan.mit.edu/ideas-made-to-matter/heres-how-much-2008-bailouts-really-cost

Regardless, no one was saying they were equivalent, similar, or even unnecessary, just ironic.

[Stockmann]

But my point was that a solution costing over a third of the US federal budget isn't going to happen. I'm not saying dtudent loan debt on the scale of that of the US isn't a big problem. Just that a solution costing that much is a non-starter on financial grounds alone, at least when it comes to walking the walk.

[Kron3007]

But my point was that a solution costing over a third of the US federal budget isn't going to happen. I'm not saying dtudent loan debt on the scale of that of the US isn't a big problem. Just that a solution costing that much is a non-starter on financial grounds alone, at least when it comes to walking the walk.

True, but I assume that is for complete forgiveness paid all at once.  There are many other options in between, and this particular reference came up in relation to low/no interest loans, not forgiveness. 

[mahagonny]

https://nypost.com/2020/01/02/team-trumps-big-blow-to-the-college-cartel/

https://www.forbes.com/sites/dereknewton/2019/09/30/trumps-justice-department-probably-just-made-college-more-expensive/#78583cb94a23

[Anselm]

The auto industry bailout ended up costing $9bn and TARP ended up making a profit of $15bn.

Sanders' proposed loan forgiveness plan costs $1,600bn.

This isn't just a difference of orders of magnitude, it's also an actual payment/transfer and not a loan -- so it's an entirely different category of policies.

If memory serves $1,600 bn is over a third of the entire US federal budget.

It also is about a third of our war spending in the past 20 years.  Also factor in that debt free young people will now be able to buy homes and furniture.  I don't think we need complete forgiveness, just assistance for the worst cases.