Student loan debt amounts are more than credit card debt amounts now.
Millions of former students cannot buy houses, cars, and spend disposable income because of crippling student loan debt. By forgiving student loan debt, it frees up millions of dollars to be spent in the economy to encourage consumer spending.
In the alternative, making all loans at 0 percent interest would help students pay back loans quicker if they're paying more in principal.
Income based repayment and public service loan forgiveness borrowers loans should be at 0 percent interest as well.
There are steps the president can take though executive action to lower the burden for young people that voted for change and hope.