The presidential elections in the United States are on high. As usual, every candidate has aligned their promises, convictions, and reasons, which they intend to sell to the voters. Sens. Bernie Sanders and Elizabeth Warren are among the candidates in the presidential race. One of the common things about the duo is that each of them is promising to cancel the student loans.

The loans, which are the tune of $1.6 trillion, have been a thorn in the flesh for hundred of thousands of students. The government restrictions, terms, and conditions on the loans are only making things worse in that colleges and universities continue to raise the tuition fee. The situation has pushed the students and parents into a desperation corner of not being able to secure enrollment slots in the institutions of their choice.

But would student debt cancellation resolve the long – term crisis?’

Every young American would embrace the plan by Sanders’ to cancel the student debt. He would win a life – term loyalty from everyone. This would also be a radical change that was criticized four years ago by a big number of Democrats. Nonetheless, many of them are now hopeful that if the plan succeeds, it would bring remarkable change and transformation into the lives of the students.

However, some are still skeptical about the idea of canceling. Their concern is that the one-off cancellation of the debt will not resolve other lasting crisis. First, the students not only borrow to cover their tuition fees but also for the living expenses while at the university. Sanders’ debt cancellation plan is not addressing this element, and this means the students will continue to borrow.

Secondly, what is supposedly free tuition will only apply to undergraduate students? What about those pursuing degree programs, Masters, and Ph.D.’s? Finally, the plan is addressing just the public colleges and universities. It does not apply to non–private institutions, although they also enroll a high number of students. The bottom line is, Sanders’ plan could only meet short term goals.