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Biden Student Loan Relief Plan Allows Increased Borrowing, Less Repayment

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  • Wenhua Di

Abstract

The Biden plan is expected to boost participation in the income-driven repayments that lower the payment burden. Imposing a cap on a borrower’s income to qualify for cancellation or increasing the cancellation amount for low-income borrowers could alleviate the regressive nature of broad loan cancellation.

Suggested Citation

  • Wenhua Di, 2022. "Biden Student Loan Relief Plan Allows Increased Borrowing, Less Repayment," Dallas Fed Economics 94849, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:d00001:94849
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    File URL: https://www.dallasfed.org/research/economics/2022/0927
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