How Student Debt Forgiveness Widens the Diploma Divide
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| Title: | How Student Debt Forgiveness Widens the Diploma Divide |
|---|---|
| Language: | English |
| Authors: | Buffie, Nick, Progressive Policy Institute (PPI) |
| Source: | Progressive Policy Institute. 2023. |
| Availability: | Progressive Policy Institute. 600 Pennsylvania Avenue SE Suite 400, Washington, DC 20003. Tel: 202-547-0001; Fax: 202-544-5014; Web site: https://www.progressivepolicy.org/ |
| Peer Reviewed: | N |
| Page Count: | 36 |
| Publication Date: | 2023 |
| Document Type: | Reports - Descriptive |
| Education Level: | Higher Education Postsecondary Education |
| Descriptors: | College Students, Student Financial Aid, Loan Repayment, Student Loan Programs, Loan Default, Economic Impact, Politics of Education, Federal Aid, Federal Programs, Paying for College, Grants, Social Class |
| Laws, Policies and Program Identifiers: | Pell Grant Program |
| Abstract: | Given the skyrocketing costs of higher education, some borrowers -- particularly those with low incomes and those who were scammed by for-profit colleges -- genuinely need assistance. But portraying student loan forgiveness as a working-class issue is highly misleading. In fact, data on student borrowing shows that debt relief benefits few working-class families, most of whom never attended college in the first place. This paper dives deeply into the evidence on the economic impact of student loan forgiveness. As the paper shows, proposals from political progressives to forgive all student loan debt (or large amounts such as $50,000 of debt) overwhelmingly benefit affluent Americans. President Biden departed from these more elitist proposals, yet his decision to forgive even a more limited amount is still puzzling. At a time when the economic returns to education are rising and the Democratic Party is losing noncollege voters, it makes little sense to target government aid to people who attended college. The paper goes on to examine the question of why the Democratic Party -- traditionally the party of working-class people -- has become so focused on canceling student loans. |
| Abstractor: | ERIC |
| Entry Date: | 2023 |
| Accession Number: | ED633098 |
| Database: | ERIC |
| FullText | Text: Availability: 0 CustomLinks: – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED633098 Name: ERIC Full Text Category: fullText Text: Full Text from ERIC |
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| Header | DbId: eric DbLabel: ERIC An: ED633098 AccessLevel: 3 PubType: Report PubTypeId: report PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: How Student Debt Forgiveness Widens the Diploma Divide – Name: Language Label: Language Group: Lang Data: English – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Buffie%2C+Nick%22">Buffie, Nick</searchLink><br /><searchLink fieldCode="AR" term="%22Progressive+Policy+Institute+%28PPI%29%22">Progressive Policy Institute (PPI)</searchLink> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="SO" term="%22Progressive+Policy+Institute%22"><i>Progressive Policy Institute</i></searchLink>. 2023. – Name: Avail Label: Availability Group: Avail Data: Progressive Policy Institute. 600 Pennsylvania Avenue SE Suite 400, Washington, DC 20003. Tel: 202-547-0001; Fax: 202-544-5014; Web site: https://www.progressivepolicy.org/ – Name: PeerReviewed Label: Peer Reviewed Group: SrcInfo Data: N – Name: Pages Label: Page Count Group: Src Data: 36 – Name: DatePubCY Label: Publication Date Group: Date Data: 2023 – Name: TypeDocument Label: Document Type Group: TypDoc Data: Reports - Descriptive – Name: Audience Label: Education Level Group: Audnce Data: <searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink> – Name: Subject Label: Descriptors Group: Su Data: <searchLink fieldCode="DE" term="%22College+Students%22">College Students</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Financial+Aid%22">Student Financial Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Default%22">Loan Default</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+Impact%22">Economic Impact</searchLink><br /><searchLink fieldCode="DE" term="%22Politics+of+Education%22">Politics of Education</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Aid%22">Federal Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Programs%22">Federal Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22Grants%22">Grants</searchLink><br /><searchLink fieldCode="DE" term="%22Social+Class%22">Social Class</searchLink> – Name: SubjectThesaurus Label: Laws, Policies and Program Identifiers Group: Su Data: <searchLink fieldCode="SU" term="%22Pell+Grant+Program%22">Pell Grant Program</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Given the skyrocketing costs of higher education, some borrowers -- particularly those with low incomes and those who were scammed by for-profit colleges -- genuinely need assistance. But portraying student loan forgiveness as a working-class issue is highly misleading. In fact, data on student borrowing shows that debt relief benefits few working-class families, most of whom never attended college in the first place. This paper dives deeply into the evidence on the economic impact of student loan forgiveness. As the paper shows, proposals from political progressives to forgive all student loan debt (or large amounts such as $50,000 of debt) overwhelmingly benefit affluent Americans. President Biden departed from these more elitist proposals, yet his decision to forgive even a more limited amount is still puzzling. At a time when the economic returns to education are rising and the Democratic Party is losing noncollege voters, it makes little sense to target government aid to people who attended college. The paper goes on to examine the question of why the Democratic Party -- traditionally the party of working-class people -- has become so focused on canceling student loans. – Name: AbstractInfo Label: Abstractor Group: Ab Data: ERIC – Name: DateEntry Label: Entry Date Group: Date Data: 2023 – Name: AN Label: Accession Number Group: ID Data: ED633098 |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED633098 |
| RecordInfo | BibRecord: BibEntity: Languages: – Text: English PhysicalDescription: Pagination: PageCount: 36 Subjects: – SubjectFull: College Students Type: general – SubjectFull: Student Financial Aid Type: general – SubjectFull: Loan Repayment Type: general – SubjectFull: Student Loan Programs Type: general – SubjectFull: Loan Default Type: general – SubjectFull: Economic Impact Type: general – SubjectFull: Politics of Education Type: general – SubjectFull: Federal Aid Type: general – SubjectFull: Federal Programs Type: general – SubjectFull: Paying for College Type: general – SubjectFull: Grants Type: general – SubjectFull: Social Class Type: general – SubjectFull: Pell Grant Program Type: general Titles: – TitleFull: How Student Debt Forgiveness Widens the Diploma Divide Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Progressive Policy Institute (PPI) – PersonEntity: Name: NameFull: Buffie, Nick IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 06 Type: published Y: 2023 Titles: – TitleFull: Progressive Policy Institute Type: main |
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