Biden is reportedly zeroing in on providing $10,000 of debt relief per borrower.
a plan on student loan forgiveness and repayment but also called for the end of the student loan repayment pause.Biden in making his announcement has likely weighed the potential gain of invigorating young and minority voters less than three months before the midterm election with the risk of fueling inflation, which has been used as a rallying call for Republicans and some independents.Americans owe an estimated $1.
During the freezes, interest rates have been frozen and collections on defaulted debt have been on hold, CNNForgiving student loan debt of $10,000 per borrower would cost about $300 billion for borrowers with incomes less than $125,000, anThe cost increases to $330 billion if the program is continued over the standard 10-year budget window.
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