The government should forgive student debt. Student loan forgiveness would benefit the economy in more ways than one. 

According to the article, “Effects of Canceling Student Loan Debt”, posted on educationdata.org by Melanie Hanson: “Student loan debt cancellation may lift up to 5.2 million American households out of poverty.” This evidence proves that many borrowers are living in poverty and relieving the expensive debt will greatly help them. 

If student debt were to be forgiven then there would be a boost in the economy. As mentioned in “The Impact of Canceling Student Debt”, posted on investopedia.com and written by Dan Miller, “Broad student loan debt forgiveness may help boost the national economy by making it more affordable for borrowers to participate in it” This evidence makes it apparent that forgiving student debt will cause a boost in the economy due to new businesses and job opportunities being created.

Some say not to forgive student loans because free education is a big part of why people enlist in the military. However, people should not have to feel like the only way to have a bright future is to enlist in the military. Education should not cost an arm and leg in the first place. People should join the military out of passion and pride for their country, not because they think it is the only option to live a better life.

The government should approve student loan relief for the benefit of the economy.