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Whoa. @SenSchumer and @SenWarren just dropped a resolution calling for executive action on federal student loan debt. Up to $50k cancelled by proclamation! https://www.warren.senate.gov/imo/media/doc/Schumer%20Warren%20resolution.pdf …pic.twitter.com/betfvqA6Hd
A few years ago, I was part of a research team that modeled the macroeconomic effects of cancelling *all* student loan debt. Amazing to see how much traction the idea has gained since then. cc: @Free_To_Prosper http://www.levyinstitute.org/pubs/rpr_2_6.pdf …pic.twitter.com/UdOvNJdD7z
It should go without saying, but obviously the more you cancel, the bigger the stimulus.
if only we nominated the one candidate who wanted to cancel all student debt....
They should also do stimulus to those who've already paid off their loans (say, in the last 30 years) up to $50k. And those like me who just started college should get $50k vouchers.
I have always been saying that, after polio vaccine has been discovered, all the people who suffered from polio before should be compensated.
I am curious about this. My ex failed out of at least 4 colleges and has over 100k in outstanding student debt, for degrees he never received. I know because the collectors call me occasionally. People shouldn't go into debt for school, but this situation isn't cut and dry.
Solid point.
Who is really going to pay for this in the form of increasing inflation or further risk to USD? It will be people who are responsible and take care if their finances. Giving temporary assistance to people in need us one thing. Wiping off debt is another.
We modeled FULL cancellation when the economy was much closer to full employment. This is what we found. With substantial slack in the current environment, you could easily cancel the full amount without worry.pic.twitter.com/IOlcxNhQuz
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