Mar 2, 2021
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, “I will not make that happen.” The president is in support of canceling $10k for borrowers, but there’s 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’s episode, you'll find out:
- How President Biden addresses the question of student debt
- Why President Biden isn’t 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’s 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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