Now there are two sides to the Student Debt Crisis: forgive loans or do nothing and let students buck up. Neither is a desirable solution. Paying back loans without any relief ignores a financial bubble, worse than the 2008 mortgage collapse. Forgiveness is like damming up a river, ignoring the constant flow of new loans.
Let us create a New Middle Class and pass the student tax cut: https://studenttaxoption.org/. This meets the ethics of paying off loans and the Treasury gets loan repayment cash flow. By making loan payments tax credits, payors could immediately convert tax withholdings into increased cash wages. The average monthly loan payment is $393 the annual income increase may be $4,716.
What would a student do? Buy a car, buy a house, get married, start a family – the things keeping students from joining the Middle Class.