The $1.3 trillion question of the presidential campaign is how Hillary Clinton is going to handle demands for student loan forgiveness. I write in my column this week:
So it will be illuminating to watch for the details of Mrs. Clinton's student loan program. Back in 1992, Bill Clinton was for income-based student loan repayment, or for loan forgiveness in exchange for national service. If Mrs. Clinton comes out in favor of a more generous plan — say, loan forgiveness or modification based onno repayment or without any national service — it says something about how the Democratic Party has moved to the left over the past 23 years, or about the ideological differences between the more centrist Mr. Clinton and his more left-of-center spouse. In Kennedy-esque terms, Bill Clinton was asking what you can do for your country, while Hillary Clinton may be offering what your country can do for you. Bill Clinton was offering a tradeoff, while Hillary Clinton may be offering a handout.