Let’s start with student-debt holders. It ranges from a low of $11,467 for college graduates to $20,004 for someone with a bachelor’s degree to $60,287 for professional degree holders such as law, medicine or dentistry. But it’s worth remembering that the median income for a working-age man with a bachelor’s degree is one-third higher than his peer with only a high-school diploma. Consider, for instance, that someone with a professional degree earns, on average, 40 per cent more than a bachelor’s degree holder within five years of graduation. Forgiving a portion or eliminating their student debt altogether would therefore only tilt the playing field further in favour of those who are accruing these financial rewards.

Source: National Post December 18, 2020 15:56 UTC