If your student debt disappeared, would you save more for retirement?

Student debt is one of the biggest obstacles to contributing enough — or, some say, anything — for retirement, but what would happen if Americans didn’t have that burden anymore?

Bernie Sanders, the Vermont senator running for president as a Democrat next year, proposed a bill in the Senate that would cancel all student debt, an idea similar to what fellow candidate Sen. Elizabeth Warren, a Democrat from Massachusetts, has also suggested. Sanders’ bill would wipe away about $1.5 trillion of student debt, but cost the country $2.2 trillion to do this and make all U.S. public colleges free.

Representatives Ilan Omar, a Democrat from Minnesota, and Pramila Jayapal, a Democrat from Washington, will introduce a similar version of the bill in the House of Representatives.

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