Will President Biden Block Student Loan Cancelation?
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When President Biden was asked at his first town hall whether he would forgive at least $50,000 of student loan debt, he quickly responded, \\u201cI will not make that happen.\\u201d The president is in support of canceling $10k for borrowers, but there\\u2019s a catch. Student Loan Planner Consultant Meagan Landress joins me to unpack why the president said what he did, what it means and what borrowers might expect in the next four years.
In today\\u2019s episode, you\'ll find out:
- How President Biden addresses the question of student debt
- Why President Biden isn\\u2019t behind canceling $50k of student loan debt
- How it would cost to cancel $10,000 of student loan debt for every borrower
- Who would be able to avail of student debt forgiveness under President Biden\\u2019s terms
- Why might President Biden support 0% interest rates permanently
- Why this talk around student loan reform is treating the symptoms and not the root cause
- Will your student debt be cancelled? Why or why not?
- What you can expect as an alternative if student loans are not canceled
- When it makes sense for borrowers to refinance
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