1414: Will Student Loan Cancellations Help to Close the Wealth Gap?

Central to his campaign promise, President Joe Biden announced a plan to cancel at least $10,000 in student loan debt for millions of borrowers, as well as $20,000 to Pell Grant recipients. The program is expected to mostly support working and middle class borrowers. About 75% of the benefit will go to households earning $88,000 or less per year, according to the <a href="https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-loan-forgiveness">Penn Wharton Budget Model analysis.</a> But how will it impact the country's racial wealth gap? Guest <a href="https://mcca.com/mcca-people/jean-lee/">Jean Lee is President and CEO of the Minority Corporate Counsel Association</a>, an advisor on DEI to C-suites across corporate America.  As an immigrant woman of color with a background in social work and corporate law, the professional has always been personal for Lee. A fierce advocate for her individual and institutional clients, she now champions systems-level change to create greater opportunities for those who, like her, are building careers in defiance of the status quo. Learn more at <a href="http://www.mcca.com/">https://mcca.com</a> <hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>