Dem Student Loan-Cancellation Plan a Bad Call, Experts Say

Democrats are pushing for Joe Biden to make one of his first acts as president the cancellation of trillions of dollars in student debt, a policy that would hand billions to the nation's wealthiest with little benefit to the overall economy, experts say.

In an Election Day interview, Senate minority leader Chuck Schumer (D., N.Y.) called on Biden to enact a plan, authored by himself and Sen. Elizabeth Warren (D., Mass.), to drop up to $50,000 in borrowers' student loan debt by executive order. This week, Warren and a bevy...