Is Student Loan Forgiveness A Good Idea?

Should the U.S. cancel $10,000 or more of student loan debt per borrower? What would be the economic and financial impact? Why the student loan system is broken and how to fix it.Topics covered include:How large and what is the growth rate of U.S. student loan balancesWhat are the projections for student loan lossesWhat are the pros and cons of forgiving student loansWhat would be the impact on federal finances of canceling student loansWhy the U.S. government is already technically insolventHow student loan programs should be restructuredThanks to LinkedIn and Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesStudent Loans Owned and Securitized, Outstanding—Federal Reserve Bank of St. LouiseSenate majority gives Biden path to student loan forgiveness by Sylvan Lane—The HillSchumer pressures Biden to bypass Congress to cancel $50,000 in student debt per borrower by Annie Nova—CNBCBiden will call on Congress to forgive $10,000 in student debt for all borrowers by Annie Nova—CNBCOutreach From Borrowers Could Overwhelm Student Loan System When Pandemic Pauses End by: Sarah Sattelmeyer and Lexi West—PEWFinancial Report of the United States Government FY 2019Warren makes case to Fed chair for canceling student loan debt by Naomi Jagoda—The HillStudent Loan Losses Seen Costing U.S. More Than $400 Billion by Josh Mitchell—The Wall Street JournalFinal Monthly Treasury Statement Receipts and Outlays of the United States Government For Fiscal Year 2020 Through September 30, 2020, and Other Periods—U.S. Department of the TreasuryAverage Student Loan Debt at Graduation by Mark Kantrowitz—Savingforcollege.comProfile Of The Labor Force By Educational Attainment by Vernon Brundage, Jr.—U.S. Bureau of Labor StatisticsMillennial life: How young adulthood today compares with prior generations by Kristen Bialkin and Richard Fry—PEW Research CenterForgiving Student Debt Isn’t a Great Stimulus Plan by Noah Smith—BloombergAverage annual salary of bachelor's degree recipients employed full time 1 year after graduation, by field of study: Selected years, 1976 through 2001—National Center for Education StatisticsNACE Salary Survey Winter 2020—National Associations of Colleges and EmployersAustralia’s student loan problem is a teachable moment for the U.S. by Jason Delisle and Alex Usher—BrookingsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.