Student Loan Forgiveness: A Boost For The Middle And Upper Classes Which Costs $300BN And Raises GDP Only 0.1%

Contributing sentiments towards policy:

45% : Two policies have changed since that prior analysis: However, neither issue is likely to meaningfully change our estimate that forgiving $10k in student debt per borrower would have a very modest economic effect.
43% : Here's why: Back in 2021 when Biden's plan to forgive anywhere between $10K and $50K in student debt first emerged, Goldman quickly calculated that the proposed debt forgiveness would not benefit the lower class - i.e., those who at least in theory benefit the most from Democrat policies - but the middle and upper classes.
36% : While we expected the White House to extend payment deferral, it has been unclear what or when President Biden would decide on student debt.

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