Bernie Sanders says that student loan borrowers deserve a bail-out.
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Vermont Sen. Bernie Sanders addresses the crowd during the South Carolina Democratic Convention on Saturday, June 22, 2019, in , S.C. Sanders, who is running for President, has been at the forefront of calls to reduce the cost of higher education, and he has been a. However, he has come under increasing scrutiny for his failure to offer any concrete proposals to address the billions of dollars in student loan debt that is outstanding .
Sanders proposes cancelling"all" student loans for both undergraduates and graduates, totaling $1.6 trillion. It is unclear as of this writing whether this would include both federal and private loans, although the $1.6 trillion figure would seem to imply that all types of student loans would be covered.
The cost of the proposal would be funded via a tax on Wall Street stock trades. His campaign estimates this would raise around $2.4 trillion. In a campaign speech, Sanders said that given that Wall Street banks were bailed out by the federal government, it's only fair that student loan borrowers get a bail-out, as well.
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