DENVER — After months of internal debate, President Joe Biden is expected to announce $10,000 in student loan forgiveness for borrowers making less than $125,000 per year, according to the Associated Press. An extension on the pause on payments to January is also expected to be announced.
“Of the ones left over, a little bit less than a third of the amount they owe would be leftover on average,” said Jacob Channel, senior economist at Student Loan Hero. “So, in that regard, I think that the economic impact is frankly kind of hard to overstate.” “For those students or families that still owe student loans, the forgiveness of loans, even up to $10,000, will be very significant,” Silver said. “On the other hand, there’s a lot of Americans and American families that have paid back their loans, that have been paying back their loans for years. They probably don’t see this as being very fair.”
robharristv I am to old to care. I quit paying my taxes due to this. It's not fair I should have my taxes pay for someone's student loan.
robharristv Just think--they would have money to spend in their cities, their communities.
robharristv Love this reverse Robinhood here, let's rob from the poor to give to the rich!
robharristv It’s not forgiven.. someone else is paying for it in the form of national debt and inflation.
robharristv That’s awesome.