Student debt is bad, student debt bailouts are worse
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Student debt is devastating borrowers. Biden is determined to fix that
Few issues have vexed the Biden administration like student loan forgiveness. Given that more than 40 million Americans owe money on their student loans, for a total of $1.6 trillion, few issues have such a large impact on so many. Democrats and progressives have long prioritized this matter, and President Joe Biden promised to fight for significant debt relief before taking office. Even though his ambitious proposal to use his executive authority to forgive $400 billion in student loan debt...
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Biden forgives more than $6B in student debt for 317,000 defrauded borrowers
The latest round of forgiveness brings the total amount of relief given to student loan borrowers under the Biden administration to $160 billion for 4.6 million individuals.
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Biden's student debt cancellation could cost taxpayers $1.4 trillion
(The Center Square) – President Joe Biden's plans to cancel student debt for some borrowers could cost taxpayers up to $1.4 trillion, depending on how the plans are implemented, a new report estimates. The nonpartisan Committee for a Responsible Federal Budget estimated all Biden's recent debt cancellation efforts would cost a combined $870 billion to $1.4 trillion. "That’s more than all federal spending on higher education over the nation’s entire history,"...