President Biden announced last week he would cancel $10,000 in federal student loan debt for people who qualify, and up to $20,000 for Pell Grant recipients. Around 43 million Americans could be impacted by his executive order, which also places a pause on monthly student loan payments.
Some Democrats think the president didn’t go big enough considering sky-high interest rates, and many Republicans have questioned his authority to forgive student debt. This hour, we’ll discuss Biden’s debt relief plan and the immediate and long-term impact this forgiveness will have for borrowers and our economy.
Our guests are New York Times “Your Money” columnist Ron Lieber (@ronlieber), author of The Price You Pay For College, and Danielle Douglas-Gabriel (@DaniDougPost), national higher education reporter who covers college affordability, accountability and financial aid policy for The Washington Post.
The Washington Post What borrowers think of Biden’s student-loan forgiveness plan
The New York Times Some Colleges Don’t Produce Big Earners. Are They Worth It?