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Hold the line against push for $1.6 trillion in student debt cancellation

It’s a holiday tradition in this house to watch “A Christmas Story,” a film that unfailingly takes us back to the year we had our own Ralphie. ....

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The latest question in the debate over student debt forgiveness: How valuable is it? Researchers are split

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Since Joe Biden was elected president last month, the debate around whether the government should cancel student debt has become more urgent as the possibility that a proposal once considered radical becomes more realistic.
A working paper circulated by the National Bureau of Economic Research this month has injected fresh fuel into the debate among advocates, academics, policymakers (and Twitter users). It argued that cancelling student debt would provide a boon to high-income borrowers, while tweaking our current student loan system would provide more of an outsized benefit to low- and moderate-income borrowers.
Under a policy where the government canceled all student debt, individuals with earnings in the top 10% of earners would receive a benefit worth $5,944, while borrowers with earnings in the bottom 10% would get a benefit worth $1,070, according to the paper. ....

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