More college loan debt forgiveness by POTUS Biden
Posted By RichC on February 28, 2024
Court ‘Didn’t Stop Me’ – “ The President ignores the law again as he forgives more student debt. The total is now $138 billion and counting.”
WSJOpinion February 23, 2024 article link
He’s not really cancelling anything because he’s transferring the debt from the borrowers it benefited to the taxpayers who will finance it with higher taxes or interest payments on the rising national debt.
Also thought this might be a good place to highlight “How Student Loan Work” 2023 report in STUDOCU.
Student loans are one of the largest types of debt in the U.S., the second largest consumer debt category after home mortgages. This debt stood at nearly $1.8 trillion in the first quarter of 2023, according to the Federal Reserve. Here’s a quick primer on how these loans work.
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