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Intelligence Squared U.S.: Should America Forgive Student Debt?

As colleges and universities across the country wrap up their academic years, Intelligence Squared raises an issue that has increasingly been in the news – crushing college debt. Forty-five million Americans owe an average of $37,000. Many young borrowers say it is the primary reason they haven’t purchased a home, started a family, or felt financially secure, which has pressed some politicians to propose the cancellation of students’ federal loans. Advocates say it would offer social mobility, stimulate the economy, and free up graduates to pursue what they want. Others say it would burden all tax-payers with the cost of college, regardless of whether they attended, and do nothing to address the soaring costs of higher education. As lawmakers now grapple with ways to address this issue, IQ2 debates: Should America forgive student debt?