Who Student-Loan Forgiveness Really Helps

In March 2020, the government stopped bugging me—and 40 million other Americans—for student-loan payments. It also stopped collecting interest on outstanding debt. And with so many other things to worry about, I largely stopped thinking about that debt. Some survey data indicate that many of my peers became similarly disengaged. Two years later, one estimate from the Committee for a Responsible Federal Budget suggests that $5,500 per borrower has been effectively canceled, largely because of the lack of interest that would have otherwise accrued on the outstanding debt. Read Full Article »