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How much student-loan debt forgiveness would have a real impact? $10K per borrower, according to new analysis

Monday, July 22, 2019
Jillian Berman | MarketWatch
Whitney Barkley-Denney

The race to become the Democratic nominee for president has brought the idea of mass and even total student-debt cancellation into the spotlight.

A new analysis suggests that even a relatively small amount of debt relief would make a difference to a large share of student-loan borrowers.

Cancelling $10,000 of every federal student-loan borrower’s debt would wipe out the federal student loans for about 40% of borrowers who aren’t in a grace period or aren’t in school, according to a new analysis from the Center for Responsible Lending, a consumer advocacy group.