Few causes are as central to the progressive movement as student debt “cancellation” (which really means taxpayers absorb the burden of $1.7-plus trillion in student debt). But yet another study just confirmed that there’s actually nothing “progressive” about student debt cancellation at all.
A new analysis from the liberal-leaning Brookings Institution finds that “almost a third of all student debt is owed by the wealthiest 20 percent of households and only 8 percent by the bottom 20 percent.”
“Measured appropriately, student debt is concentrated among high-wealth households and loan forgiveness is regressive whether measured by income, educational attainment, or wealth,” Adam Looney writes. https://t.co/CgUyNRzUgc
— The Brookings Institution (@BrookingsInst) January 15, 2022
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