Not merely ‘s the student loan moratorium high priced, it’s very regressive
Not merely 's the student loan moratorium high priced, it's very regressive
To have framework, that it $52 billion annual rates is more than government entities uses into the every other aspect of higher education every year. It's more than double the $23 billion government entities used on Pell Has into the 2019 (before the pandemic). Furthermore almost double the as $twenty seven million federal cost inside the 2019 of the chief higher education income tax costs, for instance the Western Options Income tax Borrowing as well as the student loan rate of interest deduction.
Significantly, you to definitely $step 1,100 away from more money disperse is significantly over the new $one hundred about undergraduate debtor
For example, the annual cost of extending the moratorium is about five times the total estimated cost of President Biden's plan to provide free community college (the 22-month cost of the moratorium is similar to the community college plan cost more a decade). Continuing the moratorium would...