Despite the political backlash and uncertainty for the macroeconomy brought upon by their plan, the Biden Administration remains steadfast in its argument that it is a vital step for Americans in the ultimate goal of solving the student debt crisis. Moreover, they believe it to be an efficient and sustainable solution — they maintain that because of the high default rates for student loans, the actual cost of the debt forgiveness plan will be lower than the theoretical expectation; however, the specifics of that value have proven to be difficult to calculate.
With the coronavirus spreading throughout the US, the CARES Act is intended to stop people from finding employment in high transmission jobs, spreading COVID-19 further. How effective is this act? Wayne Chien takes us further with this article.