Burden Quote by Robert Pollin
“Virtually all student debt in the US is now held by the federal government. It would therefore be a relatively simple matter to forgive some, if not all of it. This would enable young people to transition much more easily into creating their own households and families. At the same time, if the government is going to enact a major program of student debt forgiveness, it should be at least equally committed to relieving the heavy mortgage debt burdens still carried by tens of millions of non-affluent households in the aftermath of the 2007-09 financial crash and Great Recession.”
About This Quote
Source Speech: Economic Policy Forum, Robert Pollin, 2023
Student debt is federally owned, making large-scale forgiveness administratively straightforward; similar relief should apply to mortgage debt from the Great Recession.
In simple terms: Federal ownership makes debt relief easier; both student and mortgage debt need attention.
Key Takeaway
Advocate for paired student and mortgage debt relief.
Themes
economic policy
debt relief
social equity
housing
education
Mood
concerned
optimistic
Type
policy
advocacy
When to use this quote
- young adults forming households
- families facing mortgage stress
- policymakers drafting relief legislation
- advocacy groups lobbying
- financial counselors advising clients
Key Concepts
federal finance
public policy
intergenerational wealth
financial stability
Questions to Reflect On
- How can policymakers balance debt relief with fiscal responsibility?
- What mechanisms ensure equitable relief across student and mortgage borrowers?
A Different Perspective
Implementation may face political opposition and budget constraints; mortgage relief could be complex due to varied lenders.
