New research shows that nearly a third of borrowers in Colorado would have their entire student loan debt eliminated with $10,000 of forgiveness. via robharristv
DENVER — After months of internal debate, President Joe Biden is expected to announce $10,000 in student loan forgiveness for borrowers making less than $125,000 per year, according to the Associated Press. An extension on the pause on payments to January is also expected to be announced.
“Of the ones left over, a little bit less than a third of the amount they owe would be leftover on average,” said Jacob Channel, senior economist at Student Loan Hero. “So, in that regard, I think that the economic impact is frankly kind of hard to overstate.” “For those students or families that still owe student loans, the forgiveness of loans, even up to $10,000, will be very significant,” Silver said. “On the other hand, there’s a lot of Americans and American families that have paid back their loans, that have been paying back their loans for years. They probably don’t see this as being very fair.”
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