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A former Treasury Secretary under President Clinton says if the Biden administration offers "unreasonably generous" student loan relief, that would only contribute to inflation.
Lawrence Summers wrote in a tweet that money should rather go to support those who don't have the opportunity to attend college.
His comments come just as current Education Secretary Miguel Cardona announced the White House will make a decision about the issue within the next week.
Summers said offering student loan forgiveness would instead encourage colleges to raise tuition.