The Biden administration announced it would automatically cancel education debt for 804,000 borrowers, for a total of $39 billion in relief.

  • Ganondorf@kbin.social
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    1 年前

    This seems to be on a much smaller scale than the initial plan, if I’m reading this correctly, and targets folks really in need. Mainly this seems to be targeting people who have decades old debt because they literally can’t afford to pay back their loans - which seems totally fair. Many students took out loans with the promise from their peers and guardians that “college will be a worthwhile investment and you’ll make your money back”. That was obviously a lie for these borrowers as the price of tuition and stagnation of wages has guaranteed that promise is dead. This will ultimately be good for the economy and is an example of government working to help the people - so Republicans will hate it.