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Not merely is the education loan moratorium pricey, it is extremely regressive

Posted by Hamad Baig on September 21, 2022
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Not merely is the education loan moratorium pricey, it is extremely regressive

To have perspective, that it $52 billion yearly costs is more than the federal government spends towards the any other facet of higher education on a yearly basis. It’s over double the $23 million government entities used on Pell Grants within the 2019 (through to the pandemic). It’s also almost twice as much due to the fact $27 billion government prices inside the 2019 of the main degree income tax expenditures, including the Western Chance Income tax Borrowing from the bank additionally the student loan interest deduction.

Importantly, you to definitely $1,100 away from more money disperse is a lot more the fresh new $a hundred on undergraduate borrower

For example, the annual cost of extending the moratorium is about five times the total estimated cost of President Biden’s plan to provide free community college (the 22-month cost of the moratorium is similar to the community college plan cost more a decade). Continue Reading

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