President Biden recently made headlines by cancelling $7.4 billion in student debt. About $1,770 billion of student debt is outstanding now. Roughly how much would the real impact on borrowers be of a one-time 1% increase in inflation? (That is, instead of inflation being, say, 2% a year forever, it was 3% this year and then 2% every year after that.) (O Nothing. Inflation and student are separate things (O They would be worse off but it's hard to give an exact figure (O Nothing. Inflation is a money phenomenon; it has no real consequences (O They would lose about $10 billion (O They would gain $1.77 billion (O They would gain $17.7 billion