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