Student Debt Cancellation Is Wealth Transfer, Will Worsen Inflation: Experts

Don Ma
By Don Ma
August 24, 2022NTD Business

President Joe Biden announced on Aug. 24 that his administration will spend hundreds of billions of dollars to pay off $10,000 in federal student loan debt for millions of Americans.

Those eligible are borrowers earning less than $125,000 a year, or families earning less than $250,000.

Biden is also extending the pause on student loan payments through the end of 2022, which was set to expire at the end of August.

NTD talked with Vance Ginn and Lindsey Burke about the impact of student loan forgiveness. Ginn is chief economist at the Texas Public Policy Foundation, and Burke is director at the Center for Education Policy at the Heritage Foundation.

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