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A few thoughts on the new CBO student loan report. Nothing groundbreaking but probably worth noting as debt forgiveness comes up again. https://www.cbo.gov/publication/56754#_idTextAnchor016
Whenever someone talks about the explosion in student debt please show them this chart. Grads can borrow an unlimited amount to attend grad school. The explosion in borrowing has contributed a lot to the "crisis".
From 1997 to 2017, the average amount borrowed for grad school increased by 47%. For undergrad borrowers, 10 percent. Guess which loan program doesn't have loan limits.
I know all of your friends have a lot of loans. That is often because all of your friends are elites. The borrowing at selective schools is high and highly amplified in the media.
If you could choose between more stimulus checks for everyone or forgiving all student debt, sending a check to everyone would almost certainly be MORE progressive. Which groups are we trying to help with talk of loan forgiveness?
And by the way, a little tidbit, CBO now says Bennett Hypothesis is real according to new evidence.
