Today, President Biden announced the approval of $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan. The Biden-Harris Administration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions. The…

Today, President Biden announced the approval of $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan. The Biden-Harris Administration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions. The…

  • Sterile_Technique@lemmy.worldEnglish
    181·
    4 months ago

    I’ve thought since day one that it’s the interest that should be forgiven.

    Paying back the principle loan is fine, but milking people their entire life for several times what they borrowed is predatory as fuck.

    • june@lemmy.worldEnglish
      51·
      4 months ago

      Yep, I have no problem at all paying back my student loans. But I’ve always found it odd that federal loans charge interest beyond just servicing the loan. Dump the interest and make it a flat fee, or change the interest to like 1%.