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Podcast: So Money with Farnoosh Torabi
Episode: 1414: Will Student Loan Cancellations Help to Close the Wealth Gap?
Description: Central to his campaign promise, President Joe Biden announced a plan to cancel at least $10,000 in student loan debt for millions of borrowers, as well as $20,000 to Pell Grant recipients. The program is expected to mostly support working and middle class borrowers. About 75% of the benefit will go to households earning $88,000 or less per year, according to the Penn Wharton Budget Model analysis. But how will it impact the country's racial wealth gap? Guest Jean Lee is President and CEO of the Minority Corporate Counsel Association, an advisor on DEI to C-suites across corporate America.  As an immigrant woman of co...