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June 1, 2021

What would it take to solve the student debt crisis?

  • As a new crop of students gets ready to borrow for college and multiple generations of borrowers grapple with debt, experts weigh in on possible solutions.
    • By ANNA HELHOSKI
    NerdWallet

    The possibility of federal student loan forgiveness grabs all the headlines. But experts say no single policy — not even wiping the slate clean for millions of borrowers — solves the root causes of the nation’s $1.74 trillion student loan debt crisis.

    That debt has been fueled by decades of wages not keeping up with the rising cost of college. And unless wages increase and college costs decrease, students will still need to take on debt to complete degrees, and they’ll face greater difficulty repaying loans.


     
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