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Student Debt Relief Shows Why All Politics Is Now an Inflation Debate

The Breakdown

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The President Will Announce Executive Action on Federal Student Loan Debt

More than forty million people owe around one point six trillion dollars in student debt. Federal loans make up more than 90 % of that outstanding debt. The president is set to announce that he will cancel ten thousand dollars in federal student loan debt for borrowers making under 100 n 25 thousand dollars a year, or couples making less than 250000 dollars a year. This applies to loans for both graduate and undergraduate programmes. On top of this, president byden will reportedly extend the pandemic pause on student loan payments through the end of this year. These actions could render up to 15 million borrowers whose balances are under ten thousand dollars totally debt free.

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