Apparently Bernie Sanders is sucking up to the irresponsible student vote by urging that massive student debt should be forgiven.
Phhtt.
A policy like that will only encourage more students to take out more loans to major in socionomology at places like York or Calgary. If he wants to enlarge student aid, he should outright favour more needs-based grants, not forgive loans that students have committed to repay.
As Ted Frank has said on Facebook (actually Twitter, but I saw it on FB),
"Crushing debt" is a very good sign that you shouldn't be incurring it. Debt [is] only crushing if degree not worth cost.
And in response to a question about positive externalities arising from higher education (i.e. positive social benefits from having more students attend college or university), Ted responds,
In 2015, it seems to me that the majority of higher education creates negative externalities. College-educated millenials support Bernie Sanders, which shows a real failure of education.
But of course they are entitled...