President Joe Biden is reportedly exploring options to start a student loan forgiveness plan in America. Secretary of Education Miguel Cardona has been prompt to look into the potential legal authority to forgive up to $50,000 in student debt.
While campaigning Joe Biden did say he would attempt to forgive student loans. At first, the idea was to forgive up to $10,000 per borrower. Then the idea to forgive up to $50,000 per borrower emerged.
Student loan forgiveness would be a shot in the arm of the economy. Many people seeing student loans come off their credit report will instantly give them more disposable income. You will see more people buying homes and cars with their newly acquired expendable income.
source https://www.foxliberty.com/2021/04/biden-looking-at-options-to-cancel.html
