Big student loan debt is not a ‘Harvard, Yale and Penn’ problem
Opinion by Persis Yu On the campaign trail, President Joe Biden promised to cancel at least $10,000 of federal student loans for all borrowers in response to the Covid-19 crisis. Over 60 lawmakers and 17 state attorneys general have called on him to go further and cancel up to $50,000 administratively. When Biden was asked if he would cancel $50,000 of student debt for struggling borrowers at a CNN Town Hall last Tuesday, his answer unfortunately reflected some commonly held misconceptions about student loan borrowers. Public disinvestment from higher education, skyrocketing costs, combined with long standing economic inequality, have resulted