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Reply to "Sen. Chuck Schumer and Sen. Liz Warren just proposed forgiving $50,000 in student debt"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Biden was non-committal to this $50K Fed loan forgiveness resolution.[/quote] I think $10-20k is more reasonable, especially considering there are plenty of others who will need help- childcare providers, municipalities, the unemployed to name a few.[/quote] The "up to $50k" fed loan forgiveness throws folks off, very few have anywhere near that much in fed loans from undergrad: — 9 mil owe less than $5k — 16 mil owe less than $10k — 26 mil owe less than $20k So up to $20k forgiveness would clear out debts of 50-60% of borrowers, where as Warren & Schumer's up to $50k forgiveness would wipe out the loans of 75%.[/quote]
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