Should Student Loan Debt Be Forgiven?

2020 PRESIDENTIAL ELECTION SITE

Last updated on: 4/9/2020 2:41:07 PM PST

There are more than 44 million US student loan borrowers who collectively owe $1.5 trillion as of Feb. 2019. For more information, visit college-education.procon.org or read about the pros and cons of whether student loans should be more easily discharged in bankruptcy.

Candidates who support student loan debt forgiveness for a narrowly defined group of people are listed Not Clearly Pro or Con.

Pro

Con

Jorgensen

Not Clear or Not Found

Biden

Hawkins

Trump

Pro (Yes)

Con (No)

Con

Jorgensen
Libertarian

"No - federal subsidies in the form of student loans have caused college tuitions to skyrocket, and forgiving loans will make it worse. This takes away colleges’ incentive to provide value at a reasonable cost, and takes away students’ responsibility for shopping around for a good education with reasonable tuition rates, as well as considering the many alternatives to college that are emerging."

Source: Communication from the Jorgensen campaign to ProCon.org on Aug. 26, 2020

[Editor's Note: The Jorgensen campaign provided the same text in answer to this question and the Should Public College Be Tuition-Free? question.]

Now Pro

Biden
Democrat

[Editor's Note: Biden previously expressed a NOT CLEARLY PRO OR CON opinion on this question. Read Biden's former position on whether student loans should be forgiven.]

Not Clearly Pro or Con

Hawkins
Green

"Relieve student debt by enacting a federal student loan program that will provide relief from existing student loan debts and provide affordable zero-interest loans going forward."

Source: Howie Hawkins, "The Economic Bill of RIghts," howiehawkins.us (accessed June 24, 2020)

Not Clearly Pro or Con

Trump
Republican

"I am proud to announce that I am taking executive action to ensure that our wounded warriors are not saddled with mountains of student debt.

In a few moments, I will sign a memorandum directing the Department of Education to eliminate every penny of federal student loan debt owed by American veterans who are completely and permanently disabled. Incredible.

Nobody can complain about that, right? Nobody can complain about that. The debt of these disabled veterans will be entirely erased. It’ll be gone. And you’ll sleep well tonight.

Altogether, this action will wipe out an average of $30,000 in debt owed by more than 25,000 eligible veterans who have made immense sacrifices — the ultimate sacrifice, in many — in many ways, for our nation."

Source: Donald Trump, "Remarks by President Trump at the American Veterans (AMVETS) 75th National Convention | Louisville, KY," whitehouse.gov, Aug. 21, 2019

[Editor's Note: The Executive Office of the President wrote in its Aug. 15, 2018 "Statement of Administration Policy: Substitute Amendment to H.R. 6157 — Department of Defense Appropriations Act, 2019," available at whitehouse.gov: "The Administration opposes the wasteful $350 million funding level for a temporary benefit in the Federal Direct Student Loan program that expands Public Service Loan Forgiveness (PSLF) eligibility. In contrast, the Administration proposes to eliminate the PSLF program, which unfairly favors certain career choices over others, and instead focuses assistance on undergraduate student borrowers from all professions through a single income-based repayment plan."]

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