U.S. President Joe Biden is flanked by U.S. Secretary of Education Miguel Cardona as he speaks about administration plans to forgive federal student loan debt during remarks in the Roosevelt Room at the White House in Washington, U.S., August 24, 2022.
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REUTERS/Leah Millis
Featured

Biden's student loan plan will increase inflation by only a small amount

David Wilcox (PIIE)

The inflationary impact of the Biden administration’s proposal to forgive a substantial portion of the $1.6 trillion in outstanding federal student loans would be very small, perhaps 0.05 percentage points, according to an analysis by David Wilcox. The overall assessment of the loan forgiveness plan should rest more on issues of fairness, redistribution, and efficiency than on macroeconomic concerns.

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U.S. President Joe Biden is flanked by U.S. Secretary of Education Miguel Cardona as he speaks about administration plans to forgive federal student loan debt during remarks in the Roosevelt Room at the White House in Washington, U.S., August 24, 2022.
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