Canceling student loan debt will barely boost the economy, but a targeted approach could help certain groups
- Written by William Chittenden, Presidential Fellow, Texas State University
Already the Biden administration has forgiven nearly $3 billion of student loan debt from 113,000 borrowers. Paul Morigi/Getty Images for We The 45 MillionAt the end of June 2021, 43 million borrowers – or about 14% of all adults in the U.S. – owed approximately US$1.59 trillion in outstanding federal student loans. Although in many...