As the amount of student loan debt has increased, some activists and politicians have called upon the federal government, which holds the loans, to forgive some of the debt. They argue that the debt burden is inhibiting not only the advancement of former students but of society as a whole. Rather than using excess income to buy homes or otherwise boost the economy, former students must use it to pay off their college loans. Opponents of forgiving some of the debt say that the former students are getting the income benefit that comes with a college education and that it would be unfair to taxpayers, many of whom don’t have a college degree, to pick up the costs of unpaid loans. They also note that millions of former students have already paid off their college loans.
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