Economic sociologist. Assistant Professor @UCMerced. Author of Bankers in the Ivory Tower (@UChicagoPress, February 2022)

Merced, CA
Joined November 2010
Great explainer of why it’s progressive to #CancelStudentDebt by @_cromer043 and @andreperryedu complete with data and a figure from my @rooseveltinst paper with Goldstein, Hamilton, and @ProfessorWherry
Student debt relief is a lot more progressive than economists and politicians recognize, argue @_cromer043 and @andreperryedu (via @bopinion) trib.al/3B4fahC
0
3
0
12
"[Biden] said across the board loan forgiveness would include students from Harvard and Yale and Penn." Dear Mr. President, the share of undergrads with any student debt is only 6% at Yale, 7% at Harvard, and 12% at Penn. #CancelStudentDebt 1/2 politico.com/newsletters/wes…
2
5
0
24
Law and MBA students who borrower at these schools typically refinance to lower interest private loans and would receive zero cancellation -- or are middle income public servants. 2/2
0
0
0
1
For her 8th birthday today, Bailey ask only that President Biden #CancelStudentDebt. Surely he can't say no to those adorable droopy eyes!
0
0
0
15
#NewYearResolution Make zero payments on my student loan because it should be cancelled
3
6
1
40
Charlie Eaton retweeted
Grateful to those working on a dark cold night to make the highways safe.
👷Caltrans isn't just plowing snow❄️❄️❄️ but working around the clock removing trees, debris & power poles from I-80. The interstate remains CLOSED🚧 from Colfax (@PlacerCA) to the Nevada State-line. No estimated time of reopening. 🥶#KnowBeforeYouGo #SafetyFirst @CHP_Truckee
2
19
0
138
Policy nudges normally seem quite inadequate to redress the body slams of economic markets.
0
1
0
4
This is not true. Nearly no one has received public service or income driven loan cancellation. 7 million were in default before the moratorium. Only well off borrowers "service at low rates" by refinancing to private loans and would receive no benefit from federal cancellation.
Replying to @LHSummers
Key point. You need to look at payments not debt burdens since many are already enabled to service at low rates.  The right place for reform is in student lending to prevent subsidy to institutions that rip students off and to replace loans with grants.
Show this thread
2
20
0
95
.@LHSummers Borrowers in public service & income driven plans only service at low rates if they ultimately receive cancellation. Otherwise they start with a high ~6% interest rate and accrue capitalized compound interest on any interest not covered by payment reduction.
1
0
0
13
I have a study with Adam Goldstein, @ProfessorWherry & others on how often the well off receive rate relief through refinancing federal loans to private loans. There's reason to expect this is much more common than income driven relief by low-income, low-wealth borrowers
0
2
0
7
Charlie Eaton retweeted
Hey @LHSummers, These broadside critiques miss three key details in the labor market. First, an AEA study showed that while individuals with student loans do have higher incomes, they do not have statistically significant higher hourly wages... #CancelStudentDebt
Replying to @LHSummers
There are vastly better ways to transfer 6 billion dollars a month to help struggling families and to redress racism than this moratorium, where only 10 percent of the benefits go to the bottom 40 percent of families. brookings.edu/blog/up-front/…
Show this thread
5
19
2
32
Show this thread
Full send
NEW DECEMBER RECORD: 193.7" With a 24 hour official #snow total of 38.9" at the lab, we have smashed the previous record of 179" of snow in December set in 1970! Snow rates are still heavy and we could even break the 200" mark today! #CAwx #CAwater
Show this thread
0
0
0
0
Charlie Eaton retweeted
6⃣ Diving into his idea that broad debt relief benefits the banking industry, there is some truth here: people with some debt often have lots of it. Families are still a mess. This undercuts the whole premise of Summers' thread. @CharlieEatonPhD @ProfessorWherry @daliejimenez
1
9
0
21
Show this thread
Charlie Eaton retweeted
For more on why NOW is the time for @POTUS to keep his promise and #cancelstudentdebt, follow these brilliant people (and many more): @andreperryedu @bakerdphd @louise_seamster @CharlieEatonPhD @YuPersis @ei_conn @ragregg @alexisgoldstein @nataliaabrams @LDHerrine @Econ_Marshall
1
18
2
66
Show this thread
Black borrowers have the most outstanding student debt because housing wealth exclusion and wage inequality make college and loan payments unaffordable. It would be just, not perverse, to cancel their debt. See my @rooseveltinst paper with @ProfessorWherry rooseveltinstitute.org/publi…
Replying to @LHSummers
In general, relieving debts for those in distress promptly is good policy. Across the board relief of debts, where the vast majority can pay and are expected to pay, has the perverse effect of rewarding those most who borrow most.
Show this thread
0
28
1
67
Charlie Eaton retweeted
.@LHSummers, most student debt is held by people with zero to negative net-worth. The more debt we cancel, the more we close the racial wealth divide. Your argument that debt cancelation is regressive falls flat when you look at wealth. Please see the research.
Replying to @LHSummers
In general, relieving debts for those in distress promptly is good policy. Across the board relief of debts, where the vast majority can pay and are expected to pay, has the perverse effect of rewarding those most who borrow most.
Show this thread
31
371
21
1,236
Show this thread