Is Biden seriously walking away from his promise to cancel student debt? John Iadarola and Brett Erlich break it down on The Damage Report.
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Read more here: https://www.commondreams.org/news/2021/02/18/new-economic-study-demolishes-myth-about-student-debt-parroted-joe-biden
"The latest annual student debt report from the social science research group Jain Family Institute, published Thursday, belies claims by President Joe Biden—who earlier this week said he would not cancel $50,000 in federal student loan debt per borrower—that such a move would disproportionately benefit people who attend elite private universities.
The 2021 Student Debt and Young America report, authored by JFI’s Laura Beamer and Eduard Nilaj, begins by noting that young people are "overrun with student debt."
"This crisis is the culmination of waning government funding for higher education, wage stagnation, wealth inequality, and a misleading emphasis on obtaining high credentials—all leading to the financial gap between college prices and later earnings," they write."
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