If student loan debt were canceled, 'the magnitude of the stimulus would depend on the size of the debt relief and income level of the beneficiaries.'
Erasing student-loan debt could create a"moral hazard" that would weaken the effect of any economic stimulus, Moody's Investors Service said in a recent report. Outstanding student-loan debt is $1.5 trillion, equal to 6.9% of US gross domestic product. Canceling student-loan debt could hurt the US government because it collects revenue on student loan payments, the report said.
Erasing student-loan debt could create a"moral hazard" that would weaken the effect of any economic stimulus, Moody's Investors Service said in a recent report. Outstanding student-loan debt is $1.5 trillion, equal to 6.9% of US gross domestic product. Canceling student-loan debt could hurt the US government because it collects revenue on student loan payments, the report said.
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