Why Student Debt Forgiveness is Good for America

Andy wants to share one of his favorite episodes from this year that’s just as relevant today as it was when we taped it. Millions of student loan borrowers breathed a sigh of relief after the White House revealed a plan to wipe clean a huge swath of debt (though it’s currently tied up in the courts). How meaningful is this policy, what are the broader implications to the economy, and will it help future borrowers? Harvard Economist Susan Dynarski and the Brookings Institution Senior Fellow Andre Perry break down the plan and use their own experiences to humanize the root problems that this relief begins to address. Plus, Andre argues why you will benefit from this policy even if you won’t get debt wiped personally. Keep up with Andy on Twitter @ASlavitt. Follow Susan Dynarski and Andre Perry on Twitter @dynarski and @andreperryedu. Joining Lemonada Premium is a great way to support our show and get bonus content. Subscribe today at bit.ly/lemonadapremium.    Support the show by checking out our sponsors! CVS Health helps people navigate the healthcare system and their personal healthcare by improving access, lowering costs and being a trusted partner for every meaningful moment of health. At CVS Health, healthier happens together. Learn more at cvshealth.com. Click this link for a list of current sponsors and discount codes for this show and all Lemonada shows: https://lemonadamedia.com/sponsors/    Check out these resources from today’s episode:  Sign up for updates on the student loan forgiveness application here: https://www.ed.gov/subscriptions Read why Susan changed her mind about student debt forgiveness: https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html Read why Andre believes debt forgiveness is a start to solving the root problem for borrowers: https://www.brookings.edu/blog/the-avenue/2022/08/25/bidens-student-debt-cancellation-doesnt-solve-the-root-problems-facing-borrowers-but-its-a-start/ Find vaccines, masks, testing, treatments, and other resources in your community: https://www.covid.gov/ Order Andy’s book, “Preventable: The Inside Story of How Leadership Failures, Politics, and Selfishness Doomed the U.S. Coronavirus Response”: https://us.macmillan.com/books/9781250770165  Stay up to date with us on Twitter, Facebook, and Instagram at @LemonadaMedia.  For additional resources, information, and a transcript of the episode, visit lemonadamedia.com/show/inthebubble.See omnystudio.com/listener for privacy information.