Assume you have been tasked with choosing which student loan forgiveness program to implement, if any. 3 choices: 1. Universal payments up to $50,000 to each borrower. 2. Income driven repayment (IDR) plan 1. Borrowers begin paying once their income exceeds 150% of the poverty line (that is, about $40,000 in 2020). 3. Income driven repayment (IDR) plan 2. Borrowers begin paying once their income exceeds 300% of the poverty line (that is, about $80,000 in 2020). Borrowers pay 10 to 15% of their income each year. After 20 years, any remaining loan balances are forgiven. For example, a borrower with $40,000 of income would pay 10% of her income ($4,000 per year or $333 per month) in loan payments. A borrower with $80,000 of income would pay 15%, or $1,000 per month in loan payments. or 300% of the poverty line, $80,000 in 2020. Explain, using economic terms (for example, efficient, marginal benefit, marginal cost) describe a solution to this dilemma, what the cost to society, that is, the government, of engaging in a student loan forgiveness program (6 points). Explain why no option considered in this program makes college more affordable. Is it possible this program could increase the cost of higher education? Why or why not? (6 points)