Elizabeth Warren is Wrong About Student Loan Debt

Massachusetts Senator Elizabeth Warren recently jolted the Democratic presidential primary race by tackling one of the most important issues of our time: student loans and the cost of higher education. Warren called for canceling up to $50,000 of student loan debt for every American making under $100,000 a year. In addition, she would make two- and four-year public college tuitions free for all new students.

The total cost of Warren’s plan would be $1.25 trillion over 10 years, with the debt forgiveness portion consisting of a one-time cost of $640 billion. Warren plans to pay for her plan by imposing an annual tax of 2 percent on all families that have $50 million or more in wealth.

Warren is right to focus attention on the matter of student loans. This is a major issue for young people and experts have been warning of a crisis for years.

But in most cases, it isn’t right to blame student loan borrowers for their predicaments. After all, they are victims of a scam perpetrated by the education cartel and the federal government.

Here’s how it works: the education cartel sells the lie that only those with four-year college degrees can succeed in life. Then they steer everyone with a pulse towards a university.
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