Forgive student loan debt? Top 40% of American households would benefit most

Fox Business | Nov 17, 2020 at 1:24 PM
  • Progressive Democratic lawmakers are moving full steam ahead in their efforts to create policy under a Joe Biden administration to cancel student debt.
  • Under Warren’s plan to forgive up to $50,000 in student debt for households making less than $100,000, and offer some relief to households that make more than $100,000, 60% of American households would only get 34% of the benefit.
  • The Congressional Budget Office estimated that just the cancellation of $10,000 in student debt for all borrowers could cost between $250 billion to $300 billion, piling on to the growing national debt of over $27 trillion.