Could Student Loan Forgiveness Become Welfare for the Rich? | The Larry Elder Show

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On Wednesday, President Joe Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31.

According to an analysis of Biden’s plan by the University of Pennsylvania out Tuesday, such a wide-ranging bailout will come with a price tag of $300 billion to $980 billion for American taxpayers. Furthermore, the university calculated that “between 69 and 73 percent of the debt forgiven accrues to households in the top 60 percent of the income distribution.”

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Could Student Loan Forgiveness Become Welfare for the Rich? | Trailer | The Larry Elder Show
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