Biden recently announced a plan to forgive some federal student loan debt for borrowers making under $125,000 a year (or in a household making under $250,000 a year).

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Prompt:
Biden recently announced a plan to forgive some federal student loan debt for borrowers making under $125,000 a year (or in a household making under $250,000 a year). Most borrowers below this income threshold are eligible for $10,000 in loan forgiveness, while borrowers who received Pell Grants (grants for those with exceptional financial need) for their undergraduate education are eligible for $20,000 in loan forgiveness. Do you support this plan? Why or why not? If you do not support this plan, explain your preferred policy alternative and why you prefer it.

Before answering these questions, review the following for a richer understanding of the context:

This summary of the major arguments concerning student loan debt forgiveness from NPR: https://www.npr.org/2022/08/28/1119687223/student-loans-debt-forgiveness-pell-grants-biden-inflation
This information from the Federal Reserve concerning the prevalence of student loan debt: https://www.federalreserve.gov/publications/2022-economic-well-being-of-us-households-in-2021-student-loans.htm
This information from the National Center for Education Statistics concerning the effect of educational attainment on income: https://nces.ed.gov/programs/coe/indicator/cba/annual-earnings.

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