When politicians decide to “forgive” debt, they give people an incentive to borrow more and to borrow less prudently. For the same reason that people’s menu choices change when someone else is picking up the tab at the restaurant, so too would students’ and parents’ behaviors change if Warren forces someone else to pay the tuition bill.
FEE’s mission is to inspire, educate, and connect future leaders with the economic, ethical, and legal principles of a free society. These principles include: individual liberty, free-market economics, entrepreneurship, private property, high moral character, and limited government. Visit https://fee.org