General World News

Canceling student debt would mostly benefit middle- and high-income families, JPMorgan finds

student loans

Summary List Placement

With student debt in the US totaling approximately $1.7 trillion, there is no question that forgiving that debt would be a welcome relief for many Americans. But whether $10,000 or $50,000 in student debt is cancelled per person, experts found middle- and high-income families would reap most of the benefits.

A new report from JPMorgan Chase examined four different cancellation scenarios: universal cancellation of up to $10,000, cancellation of up to $50,000 for people earning less than $125,000, cancellation of up to $25,000 for people earning less than $75,000 and phasing out at $100,000, and details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com