The distributional effects of student loan forgiveness an update on SAVE and the COVID-19 moratorium Sylvain Catherine, Mark Pérez Clanton, and Constantine Yannelis
By: Catherine, Sylvain
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Contributor(s): Clanton, Mark Pérez | Yannelis, Constantine.
Material type: 
ArticleSubject(s): ESTUDIANTES UNIVERSITARIOS | PRESTAMOS | CONDONACIÓN | ESTADOS UNIDOS
In:
National Tax Journal v.77, n.3, september 2024, p.655-680Summary: Student loan forgiveness policies in the United States have undergone significant evolution and debate since 2020, with varying degrees of targeting and regressive implications. This paper offers an update on student loan forgiveness developments since 2020, evaluating recent proposals through the framework Catherine and Yannelis present in their work on the distributional effects of student loan forgiveness. We study the economic dynamics of student loan forgiveness in 2024, tracking proposed and implemented forgiveness measures and their distributional impacts. We find that new proposals expanding income-driven repayment are more progressive than a universal loan forgiveness plan, but we caution against the potential for increased moral hazard at the school level.
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| OP 233/2024/3 National Tax Journal | OP 233/2024/3-1 Reflections on the US property tax | OP 233/2024/3-2 The (non) taxation of student debt cancellation | OP 233/2024/3-3 The distributional effects of student loan forgiveness | OP 233/2024/4 National Tax Journal | OP 233/2025/1 National Tax Journal | OP 234 The American Economic Review |
Bibliografía
Student loan forgiveness policies in the United States have undergone significant evolution and debate since 2020, with varying degrees of targeting and regressive implications. This paper offers an update on student loan forgiveness developments since 2020, evaluating recent proposals through the framework Catherine and Yannelis present in their work on the distributional effects of student loan forgiveness. We study the economic dynamics of student loan forgiveness in 2024, tracking proposed and implemented forgiveness measures and their distributional impacts. We find that new proposals expanding income-driven repayment are more progressive than a universal loan forgiveness plan, but we caution against the potential for increased moral hazard at the school level.
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