Cancelling all the government education loan obligations carry out wipe out the $step 1

Cancelling $50,one hundred thousand out-of debt for each borrower create get rid of $step one trillion value of loans. It can scrub all the government education loan personal debt having thirty six billion individuals and relieve it to have an additional seven mil consumers.

Cancelling $ten,100 out-of loans for each borrower carry out wipe out $380 mil worth of obligations. It would cure all government education loan financial obligation having 15 mil consumers and reduce they getting an extra twenty-eight million individuals.

Was college student financial obligation cancellation regressive?

The latest student financial obligation cancellation proposals which have in earlier times come examined is actually regressive while they promote an effective disproportionate benefit to high money and you will richer properties. Continue Reading