BusinessEducationForgiveness Plan Would Remove One-Third of Students' Loan Debt

Forgiveness Plan Would Remove One-Third of Students’ Loan Debt

-

- Advertisment -sslate

About one in three Idahoans who have federal student-loan debt would see it erased entirely if the Biden administration goes forward with a $10,000 forgiveness plan. That’s according to analysis from the website Student Loan Hero.

President Joe Biden is considering eliminating the debt through executive order. Andrew Pentis, a senior writer and certified student loan counselor at Student Loan Hero, said the average monthly loan repayment in Idaho is $274.

“Whether you have more or less than $10,000 worth of student loans left to repay, this dose of forgiveness would be hugely helpful, in either getting rid of your debt or shrinking it considerably,” said Pentis. “So certainly, if you’re a borrower in Idaho, you’d be rooting for something like this to happen.”

Students

The Trump administration paused federal student loan repayments in March 2020 during the pandemic. Biden extended the pause on his first day in office through at least October 1.

Some Democrats want the Biden administration to forgive up $50,000 in student loan debt, but Republicans have pushed back on forgiveness, saying a blank check is not the right answer.

The average student loan debt in Idaho is lower than the national average, but still comes in at more than $32,000 per borrower. Pentis said that debt has ripple effects on other parts of life.

“It might be hard to find room in your budget to be able to afford that along with higher-priority personal financial needs,” said Pentis, “such as just covering your basic bills every month and dealing with higher-interest debt, such as on credit cards.”

Saturday is National College Decision Day, and groups like the Progressive Change Campaign Committee will be using the day to highlight the stories of people saddled with student debt.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Massachusetts Ranks #1 in Child Well-Being

Massachusetts ranks first in the nation for children's well-being, according to the 2022 Kids Count Data Book from the Annie E. Casey Foundation.

Vote Expected Today in U.S. House on Inflation-Reduction Act

Health advocates are hailing the new Inflation Reduction Act, saying it would be the biggest health-care reform since the Affordable Care Act.

Florida’s Child Well-Being Report Card Shows Increase in Mental Distress

Children's advocacy groups are calling on lawmakers to do more to improve the well-being of Florida's kids.

Top Reasons That Show Why Roof Restoration Is Necessary?

These are just five of the major advantages of roof restoration to contemplate a potential home seller. Roofing sustenance is a crucial...
- Advertisement -

What does the Future hold for Education?

The GED is the only higher secondary certificate available in over 85 countries and accepted by nearly all universities in the US and many across the world.

Peer-Reviewed Study Shows Measurable Impact on Employee Health and Productivity from Employee Assistance Program

Five-year longitudinal analysis finds 84 percent of employees with depression and 78 percent with alcohol use concerns migrated to low- or no-risk after EAP treatment.
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Best Apps for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

4 Easy Ways to Treat Yourself

Even the little act of purchasing new socks can make a great difference to your sense of contentment. Rather than purchasing impractical gifts, you could make life more enjoyable by spending less money on treats that make you happy at that moment.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you