I admit my knowledge is anecdotal, but I know somebody in their 20s, who went to college, and is in debt that would be cancelled. This person was the first in their family to go to college, and was unable to find a job in their field. Most of this persons peers are in a similar situation with respect to debt and being unable to find jobs in their field. The jobs these people have are entry-level tech support, bar-tending / waiting tables, starbucks, etc. None of them are upper middle class.
I admit my knowledge is anecdotal, but I know somebody in their 20s, who went to college, and is in debt that would be cancelled. This person was the first in their family to go to college, and was unable to find a job in their field. Most of this persons peers are in a similar situation with respect to debt and being unable to find jobs in their field. The jobs these people have are entry-level tech support, bar-tending / waiting tables, starbucks, etc. None of them are upper middle class.