President Biden will announce a decision on Wednesday. Details are sparse on what to expect. What I've seen includes:
- student loan debt relief could impact around 45 mn across the US
- details of the plan were still being finalised
- White House aides have said Biden was weighing a targeted plan that would provide $10,000 of debt relief for borrowers who make below a certain level of income
- also is expected to extend a pause on loan payments for all borrowers
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There are a multitude of arguments for and against this. Comments welcome.
For markets though ... freeing up $$$ for circa 45 mn in the US might (OK, would) be an inflationary input. Yeah?
