The latest freeze on student debt repayment ends on August 31, and the Biden administration is under pressure to forgive all federal student debt permanently.

But, there are at least five major reasons mass federal student debt cancellation is a terrible idea.

A #CatoCEF 🧵… 1. People who have graduated from college typically earn much more over the course of their lifetime ($1.2 million-$3.1 million on average).

People in such a good financial position should be able to repay taxpayers, roughly two‐​thirds of whom do not have bachelor’s degrees.