Let's imagine that President Biden has created a working group to discuss student loans. He is considering forgiving all student loans. His goal is to increase intergenerational mobility. He wants to understand what the research shows about the overall effects of forgiving all student debt and we must keep in mind the cost of forgiving all student debts, as well. You are part of this working group, and your role is to summarize the relevant results from the Brookings article by Looney and Yannelis (2015). Make sure to highlight how their findings influence the type of policy that you would recommend President Biden put forward. Make suggestions for changes in the policy and explain why you recommend those specific changes using the evidence in the article. In addition, you are to provide evidence from your knowledge of the economics of education to additionally support your conclusions (use resources presented in class or from your own research).