New analysis shows the impact forgiving student debt could have.
According to Student Loan Hero 34% of borrowers could have all of their direct federal student loans erased.
Analysis: 34% could have federal student loans erased
Credit: KTNV Channel 13 Las Vegas
Duration: 00:43s
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Chanley Painter with Court TV.NEW ANALYSIS SHOWS THEIMPACT FORGIVING STUDENT DEBTCOULD HAVE.ACCORDING TO "STUDENT LOANHERO" 34-PERCENT OF BORROWERSCOULD HAVE ALL OF THEIR DIRECTFEDERAL STUDENT LOANS ERASED--WHILE ANOTHER 20-PERCENTWOULD HAVE THEIR BALANCES CUT BYAT LEAST HALF IF PRESIDENT BIDENGOES THROUGH WITH A PROPOSEDSTUDENT DEBT FORGIVENESS PLAN.STUDENT LOAN COUNSELORSSAY THIS COULD HAVE A BIG IMPACTON LOCAL ECONOMIES."Basically, when you forgivestudent debt for a large amountof Americans you’re helping tostimulate their personalfinances and in turn stimulatingyou know at least localeconomies and hopefullynationally as well"PRESIDENT BIDEN SAID - HEPREFERS NOT TO TAKE EXECUTIVE