4 ms·
This isn't true, the majority of student debt is owned by those in the bottom 3 quartiles. Only 34% is owed by the top quartile. https://www.urban.org/urban-wi
by mempko 7y ago
This isn't true, the majority of student debt is owned by those in the bottom 3 quartiles. Only 34% is owed by the top quartile.
https://www.urban.org/urban-wire/which-households-hold-most-student-debt https://www.urban.org/urban-wire/which-households-hold-most-...
Which means a student loan cancellation would help the middle class the most since student debt would be a higher percentage of their income and the bottom 75% hold 66% (the majority) of the debt.
- refurb 7y agoRead your link again. It says 34% of educational debt is held by the highest quartile households by income. Only 17% by the lowest.
- mempko 7y agoOP Said > Most student debt is owed by people who are already in the top quartile of wealth I interpreted most to mean majority. It's clear the middle quartiles holds the majority of the debt not the top.
- egdod 7y agoI probably should have phrased that better. My point was that the top quartile has a disproportionately large amount of the debt.
- basch 7y ago2/3rds is owned by the top half.