NPR.

This is the Indicated From Planet Money.

I'm Paddy Hirsch.

And I'm Daryl Mwoods.

The Biden Administration plan to cancel billions of dollars of student debt is controversial.

A lot of people love it, particularly on the progressive wing of the Democratic Party.

They say it will reduce inequality and it will take a huge amount of pressure off

this well-off credit.

Minifum disproportionately people of color.

Of course, a lot of other people hate it.

It's America, of course.

50.50.

You can actually count pretty much the entire Republican Party and everyone who votes

for them on this side and judging by the comments section of the New York Times and the Washington

Post.

A lot of people who claim to have voted Democratic in the past, but are not disgusted by

what they see as a wasteful hand out.

These people make the point that they had to work their tails off to pay off their student

loans.

Why should these borrowers get a bailout?

What's more, they say that this debt forgiveness plan will be paid by taxpayers, many of whom

didn't go to college themselves.

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