Student Loan Cancellation Would Increase Your Wealth By This Much

New research shows that $50,000 of student loan cancellation would increase your wealth by this much.

Here’s what you need to know.

Student Loans

Student loan cancellation would increase wealth — not mostly for the wealthiest Americans as some have argued — but for those who need it most. That’s one of the conclusions from new research from The Roosevelt Institute, a non-profit think tank. Here is the amount of money that Americans in each wealth bracket would get, per capita, from $50,000 of student loan cancellation:

  • Top 10% wealth bracket: $562
  • 80th-90th % wealth bracket: $1,075
  • 70th – 80th % wealth bracket: $1,508
  • Bottom 10% wealth bracket (Latinx): $11,090
  • Bottom 10% wealth bracket (Caucasian): $12,617
  • Bottom 10% wealth bracket (African-American): $17,366

Read The Full Story