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.
Show Notes
Student Loans Owned and Securitized, Outstanding—Federal Reserve Bank of St. Louise
Senate majority gives Biden path to student loan forgiveness by Sylvan Lane—The Hill
Schumer pressures Biden to bypass Congress to cancel $50,000 in student debt per borrower by Annie Nova—CNBC
Biden will call on Congress to forgive $10,000 in student debt for all borrowers by Annie Nova—CNBC
Outreach From Borrowers Could Overwhelm Student Loan System When Pandemic Pauses End by: Sarah Sattelmeyer and Lexi West—PEW
Financial Report of the United States Government FY 2019
Warren makes case to Fed chair for canceling student loan debt by Naomi Jagoda—The Hill
Student Loan Losses Seen Costing U.S. More Than $400 Billion by Josh Mitchell—The Wall Street Journal
Final 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 Treasury
Average Student Loan Debt at Graduation by Mark Kantrowitz—Savingforcollege.com
Profile Of The Labor Force By Educational Attainment by Vernon Brundage, Jr.—U.S. Bureau of Labor Statistics
Millennial life: How young adulthood today compares with prior generations by Kristen Bialkin and Richard Fry—PEW Research Center
Forgiving Student Debt Isn’t a Great Stimulus Plan by Noah Smith—Bloomberg
Average 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 Statistics
NACE Salary Survey Winter 2020—National Associations of Colleges and Employers
Australia’s student loan problem is a teachable moment for the U.S. by Jason Delisle and Alex Usher—Brookings
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