Student loan forgiveness is unlikely to impact inflation

Betsy Mayotte, President of The Institute of Student Loan Advisors echoes Kantrowitz’s statements, saying that roughly $100 of extra cash a month is unlikely to allow most borrowers to make those large purchases, especially if they’re already struggling to make their monthly payments.

“If they [the Biden administration] were to forgive all of it [student loan debt], that would be a different story, “she says. “But I think everyone can agree that’s not on the table.”