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President Biden’s announcement this week that he would cancel chunks of student loan debt stands to have a major impact for many of the 45 million Americans who owe $1.6 trillion for having gone to college.
Who will benefit from the plan, what will the cost be to the taxpayer and the economy, and, ultimately, could the White House have done more?
On today’s episode
Stacy Cowley, a finance reporter for The New York Times.
Background reading
The plan for student loan forgiveness comes after months of deliberations in the White House over fairness and concerns that it could exacerbate inflation before the midterm elections.
The move has kicked off heated fiscal debate and raised the possibility of opening a deep political rift.
Here’s what you need to know about Mr. Biden’s proposal.
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We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.
Stacy Cowley contributed reporting.
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Source: Elections - nytimes.com
