Quoted: As a result, UW-Madison Professor and SSTAR Lab Director Nick Hillman told WPR, Biden’s debt cancelation will have very different effects across the spectrum of borrowers.
“On the low end, you have a whole lot of borrowers who have pretty small loans, and they’re going to have debts cleared off,” said Hillman. “And then on the opposite end, you have kind of a small handful of borrowers who have really big debt and $10,000 is going to barely even make a dent.”