Student debt cancellation has been a hotly debated topic in recent years, with advocates arguing that it can help alleviate the financial burden on millions of Americans. However, the question remains: is less more when it comes to student debt cancellation? What is the impact of limited student debt cancellation?

While many argue for a blanket forgiveness of all student debt, others believe that a more targeted approach could be just as effective. Limited student debt cancellation could mean canceling a portion of student loans, such as a certain amount or a specific percentage. This could target relief to those who need it the most, while also being more financially feasible for the government.

One of the main impacts of limited student debt cancellation would be the immediate relief it would provide to borrowers. Even canceling a portion of student debt could significantly reduce monthly payments and make it easier for borrowers to make ends meet. This could also help stimulate the economy, as borrowers would have more money to spend on goods and services.

Limited student debt cancellation could also help address the racial wealth gap. Black and Hispanic borrowers are more likely to struggle with student debt compared to white borrowers, so canceling a portion of their loans could help level the playing field. This targeted approach could help reduce wealth inequality and promote economic justice.

On the other hand, critics argue that limited student debt cancellation may not go far enough in addressing the student debt crisis. They argue that a more comprehensive approach, such as canceling all student debt, is needed to truly provide relief to borrowers. They also point out that limited student debt cancellation could be seen as unfair to borrowers who have already paid off their loans or who have managed to avoid taking on debt.

In conclusion, the impact of limited student debt cancellation is mixed. While it could provide immediate relief to borrowers and help address the racial wealth gap, it may not go far enough in addressing the student debt crisis. Ultimately, the decision on whether less is more when it comes to student debt cancellation will depend on the goals of policymakers and their willingness to provide relief to struggling borrowers.