59% of Americans worry student loan forgiveness will make inflation worse
The entire student loan debt issue has been framed badly, because hardly anyone understands the real problem: &quot;As of March 2021, 54% of borrowers with outstanding education debt owed less than $20,000; 45% of the outstanding federal education loan debt was held by the 10% of borrowers owing $80,000 or more.&quot; <a href="https:&#x2F;&#x2F;research.collegeboard.org&#x2F;media&#x2F;pdf&#x2F;trends-college-pricing-student-aid-2021.pdf" rel="nofollow">https:&#x2F;&#x2F;research.collegeboard.org&#x2F;media&#x2F;pdf&#x2F;trends-college-p...</a><p>Forgiving $10K across the board is dumb and mistargeted. $50K would be better but is still mistargeted. What we really need to do is get the unmanageable &gt;$80K balances down to a manageable &lt;$20K amount. It&#x27;s the 10% minority of borrowers who are really hurting.<p>In my opinion we should be talking more about years of debt held rather than amount of debt held. In theory, college is supposed to &quot;pay for itself&quot;, but if some people are continuing to hold student loan debt 10 years, 20 years, 30 years after college, then college obviously did not pay for itself in those cases.