Bernie’s #CancelStudentDebt Is A Dangerous Scam

This week, Rep. Alexandria Ocasio-Cortez claimed that it was “literally easier” for her to win the congressional election than pay off her student loan debt—which says something unfortunate about both the cost of college and the electorate’s choices.

Ocasio-Cortez was commenting on Sen. Bernie Sanders’ new plan to eliminate $1.6 trillion in student debt and transform higher education into a “free” and “fundamental right.” “This proposal will make it possible for every person in America to get a college education no matter what their financial situation,” Sanders explained.

This might surprise some people, but every person in America can already get a college education no matter his financial situation. Most poor Americans, in fact, can attend college for a relatively reasonable price tag. Sanders’ socialization of the university system would be far more helpful for high-earning individuals. One Georgetown University study, for example, finds that a bachelor’s degree is worth $2.8 million on average over a lifetime, which tells us that college is often a pretty good investment.

Then again, around two-thirds of American in the workforce have no college degree. Some Americans have no interest in higher education. Many don’t need university degrees for the vocations they pursue. They can, I suppose, go to college and earn a useless degree in journalism or comparative literature for kicks. Or, maybe, they could enter the workforce and start subsidizing people like Heather Gautney.

“I am $180k in debt. I have a PHD and am a tenured professor — my students are in the same boat, sinking in debt,” Gautney, a senior policy advisor for Sanders, tweeted. “I pay $1100/month in student loan debt, half of my rent. We MUST #CancelStudentDebt.”