Which reminds me of something I read recently....
Student loans have placed enormous burdens on poorer households, especially minorities, who don't have the best employment opportunities, even after graduating. A lot of student debt is held by people who dropped out of college altogether, making their prospects even bleaker. According to the Roosevelt Institute, African Americans are among the worst-affected.
link
I like to follow this progressive economist, who makes the case against student loans.
link.
Being saddled with debt makes it a riskier proposition to start a new business. Student loans have also helped to push up the price of college, since it has allowed colleges to charge more.
Student loan forgiveness is, however, a tricky subject. Among other things, there's the element of moral hazard — of students taking more loans on purpose, knowing that they'll never have to pay for them. He goes on to argue for better ways to finance higher education.