- Biden is expected to announce Wednesday cancellation of student loan debt for borrowers who make below $125,000 per year.
- Wharton estimated it will cost the federal government between $300-980 million over 10 years to forgive student loan debt.
- Up to 73% of cancellations would benefit households ranked among the top 60% in the U.S.
- The idea is popular among Democrats, but 59% of Americans believe it would worsen inflation.
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