UNO professor debunks myth that student loan forgiveness would boost economy

OMAHA, Neb. (WOWT) – When President Biden gives the commencement address at his alma mater, University of Delaware, this weekend, many will be listening for one thing:

What about all that talk about student loan forgiveness?

The big question seems to be “to forgive or not to forgive?”

Biden said weeks ago he is considering some debt reduction, but made it clear, that the number won’t be $50,000.

College students are ready, though, anticipating a number for some closure on the issue, especially realizing their loans could be in the six figures when they cross the stage.

On UNO’s campus, Logan Guy, a freshman finance major, believes fewer loans could lead to more financial freedom.

“I feel like people are more willing to spend money on things that they actually want rather than things that they actually need to pay for,” Guy said.

Some predictions would have you believe the economy is going to resemble one big Black Friday sale, with millions of…

Read more…