Biden’s plan for student loans would completely erase debt for almost 40% of Utahns

Marshall Steinbaum, say taking away debt could boost the economy by freeing people up to spend that money on other things. He said as college has become almost a necessity in landing a job these days, more people go, including a growing percentage from diverse backgrounds and low-income families.

“The way I would phrase this is don’t look at the population of people who have student debt,” Steinbaum said. “Look at the people who don’t have student debt. If you look at everyone who’s alive today in the United States who doesn’t have student debt, you’ll have older people who never went to college as well as the younger people who were better off and went to college and didn’t have to take out debt to do that.”

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