What would happen if the US canceled $1 trillion of student debt

Canceling student debt: The costs and benefits of a 2020 plan

The U.S. has roughly $1.57 trillion in student debt — the U.S. government holds more than 90 percent of it. Some Democrats want to make that, or at least a large portion of it, disappear.

The idea of canceling student debt has been gaining steam with 2020 candidates vying for the votes of young college-educated Americans. On April 23, Sen. Elizabeth Warren, D-Mass. was the first 2020 presidential candidate to unveil a plan to erase large portions of student debt.

But what would it actually take to eliminate a big chunk of government-held student debt, and is it really a good idea?

Watch the video above to hear what experts and students think about plans to forgive student debt.

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