Survey: Canceling Student Debt Would Hurt Economy

A survey of 226 economists who are members of the National Association for Business Economics this week drew attention for results showing that most respondents predict a recession will hit the U.S. economy before the end of 2021.

The association also surveyed members about proposals by candidates for the Democratic presidential nomination to forgive student debt for all or most borrowers. Roughly two-thirds of respondents (64 percent) said this would be a net negative for the economy. About one-fifth said they believe forgiving most or all student debt would be positive for the economy.