Higher Education

The Congressional Budget Office’s new $400 billion estimate for President Biden’s forgiveness plan is noted as slightly less than the Wharton School’s $605B assessment.

The Wharton School is noted as becoming the first large MBA program to offer a major in environmental, social, and corporate governance, standards used by socially conscious investors to vet companies.

David L. Porter of Penn Medicine spoke on a panel about how private-sector support might help academic institutions like Penn retain scientists.

The White House says that the Penn Wharton Budget Model’s analysis supports its findings that most student loan forgiveness benefits will flow to low and middle earners.

Kevin Werbach of the Wharton School acknowledges that there’s a lot of uncertainty and hype around the blockchain space and says that traditional firms will need people who understand it.

An analysis by the Penn Wharton Budget Model estimates that President Biden’s loan plan will cost $519 billion over 10 years, with 75% of the benefit going to households making $88,000 or less per year.

An analysis by the Penn Wharton Budget Model finds that three-quarters of the benefits of President Biden’s student loan plan will go to low-income and middle-class earners, even among borrowers ages 25 to 35. 

An updated analysis from the Penn Wharton Budget Model projects that President Biden’s additional loan forgiveness for borrowers with Pell Grants could raise the plan’s cost to $519 billion, with most of the benefit accruing to low- and middle-income workers.

Kent Smetters of the Wharton School says that President Biden’s loan forgiveness plan has no specific dedicated revenue for its costs and would simply add to the national debt.