Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.

  • goforliftoff@lemm.ee
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    1 year ago

    Honestly I think this is better on the whole. Not if you were going to get your loans forgiven - I get that - but for today and tomorrow’s borrowers, this policy will be a positive thing and will still help current debt holders, too.

    • Olgratin_Magmatoe@startrek.website
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      1 year ago

      It can actually end up having the effect of causing tuition to go up.

      When student loans became loans that couldn’t get forgiven, and federal student loans became widely accessible for poor students, tuition prices got jacked up because the universities knew that they could get away with it. I imagine a similar thing will happen here.

      The only true solution is to have free public higher education like the rest of developed nations do.

    • Morcyphr@lemmy.one
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      1 year ago

      This program will actually save my family more money than the program shut down by SCOTUS. Our loans were never (and are never) going to be completely forgiven, and that’s fine. We owe collectively ~$90k. This plan is a manageable path to payoff for us, at least.