The lead statement from the attached article below.
Even modest student loan forgiveness proposals are staggeringly expensive and use federal spending that could advance other goals. The sums involved in loan-forgiveness proposals under discussion would exceed cumulative spending on many of the nation’s major antipoverty programs over the last several decades.
There are better ways to spend that money that would better achieve progressive goals. Increasing spending on more targeted policies would benefit families that are poorer, more disadvantaged, and more likely to be Black and Hispanic, compared to those who stand to benefit from broad student loan forgiveness. Indeed, shoring up spending on other safety net programs would be a far more effective way to help low-income people and people of color.
But hey, let’s forgive the “poor” students debt (poor meaning feeling sorry for them versus being financially “poor”). Median household income on students paying debt is $86k. That means 50% make that much…or more.
Everyone please shed a tear and start saving your hard earned $$$ in case Brandon decides not for forgive these “poor” people’s debts
Even modest student loan forgiveness proposals are staggeringly expensive and use federal spending that could advance other goals. The sums involved in loan-forgiveness proposals under discussion would exceed cumulative spending on many of the nation’s major antipoverty programs over the last several decades.
There are better ways to spend that money that would better achieve progressive goals. Increasing spending on more targeted policies would benefit families that are poorer, more disadvantaged, and more likely to be Black and Hispanic, compared to those who stand to benefit from broad student loan forgiveness. Indeed, shoring up spending on other safety net programs would be a far more effective way to help low-income people and people of color.
But hey, let’s forgive the “poor” students debt (poor meaning feeling sorry for them versus being financially “poor”). Median household income on students paying debt is $86k. That means 50% make that much…or more.
Everyone please shed a tear and start saving your hard earned $$$ in case Brandon decides not for forgive these “poor” people’s debts
Putting student loan forgiveness in perspective: How costly is it and who benefits?
Adam Looney discusses how to better target student loan relief on those in greater need, advance economic opportunity, and reduce social inequities.
www.brookings.edu
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