Who Will Benefit From Student Loan Relief If It Actually Happens?

According to a new report from the US Census Bureau, proposed student loan forgiveness or relief would mostly benefit certain minority groups, but mainly anyone who is considered very low income. 

   Which groups would see the most relief?

The US Census Bureau released the report Thursday, September 22nd. It breaks down the types of degrees as well as those who would get the most debt forgiven.

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Looking at AA or Associate Degrees (mostly 2-year or Junior College) the Census charts break it down this way:

*Percentage of persons nationwide in each main demographic who have some sort of student loan debt: (who owes, and what percent would still owe after relief)

• white (non-minority)  11.7 percent  have a loan--4.3 percent would still owe
• black (non-Hispanic)  19.9 percent   have a loan--7.3 percent would still owe
• Hispanic                      14.4 percent   have a loan--6.7 percent would still owe
• Other minority (not-Hispanic)  12.6 percent have a loan--5.9 percent would will owe

Census data says 7.3 percent of those black (non-Hispanics) 6.7 percent of Hispanics, 5.9 percent of other minorities (not Hispanic), and 4.3 percent of whites would still owe some amounts after forgiveness.  The remaining percentages would have loans forgiven completely.

For Bachelor's Degrees, the figures were as follows: (percentage of demographics nationwide who have some sort of debt)   what percentage has a debt, and what percentage would still owe after relief.

• white 14.9 percent have a loan--11.1 percent would still owe
• black (non-Hispanic) 27 percent  have a loan--21.1 percent would still owe
•  Hispanic                21.1 percent have a loan--14.5 percent would still owe
• other minorities (non-Hispanic)  13.5 percent have a loan--9.9 percent would still owe. 

Of those persons, 21.1 percent of blacks, 14.5 percent of Hispanics. 11.1 percent of whites and 9.9 percent of other minorities would still owe a lesser amount after relief. The rest would have theirs forgiven.

Those percentages for owing money after relief skyrocket for advanced degrees. Very few advanced (Master's Degree) persons would get all of it written off.

It appears the greatest percentage of relief is aimed at AA two-year degrees.

It appears the bulk of those owing loans would receive what's being touted as a "standard" reduction of at least $10K.  The bulk of the outright dismissal of debt would be confined to those with the lowest household or post-education incomes.