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The NewsWorthy

Special Edition: Pros & Cons of Student Loan Forgiveness

The NewsWorthy

Erica Mandy

News, Daily News, Society & Culture

4.71.3K Ratings

🗓️ 10 September 2022

⏱️ 15 minutes

🧾️ Download transcript

Summary

You may have strong feelings one way or the other about the Biden administration's recently-announced plan to forgive some student loan debt. We covered the basics of the plan when it was first announced a couple of weeks ago during our daily news roundups. But today, we're digging deeper into the potential pros and cons to the individuals impacted and the overall U.S. economy.

Today's first guest is the director of economic policy at the Bipartisan Policy Center, Shai Akabas. His areas of expertise include higher education – specifically, how we finance it. 

Then later, you'll learn more about exactly who is eligible and how to get the debt relief if you are. We're getting answers from financial coach Meagan Landress, a certified student loan professional with the company "Student Loan Planner."

This episode is brought to you by Indeed.com/newsworthy and Zocdoc.com/newsworthy

Get ad-free episodes and support the show by becoming an INSIDER: www.theNewsWorthy.com/insider

Transcript

Click on a timestamp to play from that location

0:00.0

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0:20.0

Today is Saturday, September 10. You may have strong feelings, one way or the other,

0:24.4

about the Biden administration's recently announced plan to forgive some student loan debt.

0:29.1

We covered the basics of the plan when it was first announced a couple of weeks ago

0:32.4

during our daily news roundups. Today, we want to dig a little deeper into the potential pros

0:37.4

and cons to the individuals impacted and the overall US economy. So today's first guest is the

0:43.6

director of economic policy at the bipartisan policy center, Shai Akabas. His areas of expertise

0:50.0

include higher education, specifically on how we finance it. Then later, you'll learn more about

0:54.9

exactly who is eligible for this and how to get the debt relief if you are. First,

0:58.9

though, the benefits and consequences of canceling student loans and what other solutions might help

1:03.6

former students too. Welcome, welcome to the Newsworthy Special Edition Saturday,

1:10.0

when we sit down with a different expert or celebrity every Saturday to talk about something in

1:13.8

the news. Don't forget to tune in every Monday through Friday for our regular episodes,

1:17.8

where we provide all the day's news in 10 minutes. I'm Eric Amanda, it's now time for today's

1:22.6

Special Edition Saturday. Shai, thank you so much for coming on the Newsworthy.

1:29.1

Thanks for having me. So let's talk about how this student loan forgiveness program

1:34.1

will impact the economy as a whole. And I want to talk about the potential pros and cons.

1:39.2

So let's start with the potential benefits of this program to the economy.

1:43.5

Well, this will certainly help provide relief for millions of households who have been struggling

...

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