Sen. Warren: ‘There Is Just No Evidence that Canceling Student Loan Debt Contributes to Inflation’

EXCERPT:

WARREN: "So, keep in mind that even conservative economists say, no, maybe, maybe it could be about .2 of 1 percent effect on inflation. There is just no evidence that canceling student loan debt contributes to inflation. But here’s what it does. It relieves the burden of payment for a lot of working families. Keep in mind, that only 58 percent of the people who have student loan debt actually have a college diploma. That remaining 42 percent tried and God bless them, but pregnancy, they were trying to work three jobs and couldn’t hold it altogether, they now earn like a high school graduate earns, but they are trying to manage student loan debt and it is crushing them. Canceling $50,000 of student loan debt would be a huge relief for tens of millions of working people.”