Option
Option
Forgive 10K
Income Driven Repayment (IDR)
Under this policy, a one-time lump sum of $10,000 of student debt is forgiven per federal borrower.
Under this policy, all borrowers pay around 10% of their income above 150% of the poverty line and loans are forgiven after about 20 years.
Share of relief by income
Income Driven Repayment (IDR) plans lead to more forgiveness for lower and middle-income borrowers
High earners
Middle
Low
Option
$67
$63.2B
$14.6
Forgive 10K
Option
12.7
11.2
$11.9B
Universal IDR
Share of relief by race/ethnicity
White
Black
Hispanic
IDR plans also tend to target more relief to Black borrowers, a group that faces high loan burdens.
Option
$102.2B
26.3
11.4
5.2
Forgive 10K
Other
Option
2
$18.5B
14.9
Universal IDR
0.5
Option
Option
Forgive 10K
Income Driven Repayment
Under this policy, a one-time lump sum of $10,000 of student debt is forgiven per federal borrower.
Under this policy, all borrowers pay around 10% of their income above 150% of the poverty line and loans are forgiven after about 20 years.
Share of relief by income
High earners
Middle
Low
Option
$67
$63.2B
$14.6
Forgive 10K
Option
12.7
11.2
$11.9B
Universal IDR
Income Driven Repayment (IDR) plans lead to more forgiveness for lower and middle-income borrowers
Share of relief by race/ethnicity
White
Black
Hispanic
Option
$102.2B
26.3
11.4
5.2
Forgive 10K
Other
Option
2
14.9
$18.5B
Universal IDR
0.5
IDR plans also tend to target more relief to Black borrowers, a group that faces high loan burdens.
Option
Forgive 10K
Under this policy, a one-time lump sum of $10,000 of student debt is forgiven per federal borrower.
Option
Income Driven Repayment
Under this policy, all borrowers pay around 10% of their income above 150% of the poverty line and loans are forgiven after about 20 years.
Share of relief by income
Income Driven Repayment (IDR) plans lead to more forgiveness for lower and middle-income borrowers
Option
Forgive 10K
High earners
Middle
Low
$67
$63.2B
$14.6
Option
Universal IDR
12.7
11.2
$11.9B
Share of relief by race/ethnicity
IDR plans also tend to target more relief to Black borrowers, a group that faces high loan burdens.
Option
Forgive 10K
White
Black
Hispanic
$102.2B
26.3
11.4
5.2
Other
Option
Universal IDR
2
14.9
$18.5B
0.5
Option
Forgive 10K
Under this policy, a one-time lump sum of $10,000 of student debt is forgiven per federal borrower.
Option
Income Driven Repayment
Under this policy, all borrowers pay around 10% of their income above 150% of the poverty line and loans are forgiven after about 20 years.
Share of relief by income
Income Driven Repayment (IDR) plans lead to more forgiveness for lower and middle-income borrowers
Option
Forgive 10K
High earners
Middle
Low
$67
$63.2B
$14.6
Option
Universal IDR
12.7
11.2
$11.9B
Share of relief by race/ethnicity
IDR plans also tend to target more relief to Black borrowers, a group that faces high loan burdens.
Option
Forgive 10K
White
Black
Other
$102.2B
26.3
5.2
Hispanic
11.4
Option
Universal IDR
2
14.9
$18.5B
0.5