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Think Tank Study Shows Democrats Fixing College Loan Crisis That Doesn't Exist
h/t Instapundit[EpochTimes] Sen. Elizabeth Warren (D-Mass.) would end the college loan "crisis" by forgiving $1.25 Trillion in such debt and then making college tuition-free, but a new study casts doubt that such a program is even needed. Warren claims the crisis is so great that it is "crushing millions of families and acting as an anchor on our economy. It’s reducing home ownership rates. It’s leading fewer people to start businesses. It’s forcing students to drop out of school before getting a degree. It’s a problem for all of us." ...But Manhattan Institute Senior Fellow Beth Akers said in a study made public Oct. 10 that "Millennials aren’t drowning in student debt." Data from the U.S. Census Bureau and the Department of Education show Warren, Sanders and others claiming a college loan crisis are misrepresenting reality. "Sixty-six percent of millennials have no student debt at all. That’s because they haven’t gone to college or because they managed to get through without having to borrow," Akers wrote. "Those who do have debt tend to have modest burdens relative to their income. Typical four-year-degree graduates who borrow will accumulate $28,500 in debt over the course of their enrollment," she said. According to Akers’ calculation, the $28,500 can be repaid at a monthly cost of less $200, which represents only four percent of the average monthly earnings for such individuals. Posted by: g(r)omgoru 2019-10-14 |
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