Did President Biden Just Cancel Your Student Loan Debt?
The average student loan debt is over $30,000 and there may be some sort of relief on the horizon for those who are struggling to pay their Federal loans back.
This would be a big relief to many people who are finding it hard to even pay their bills month to month. However, there is always a catch. Those who are apposed to the idea excusing the loans claim the taxpayers would be left with the heavy load.
It took me 15 years to pay back the loans I had after I graduated college. My wife and I are still paying down the loans after she graduated from Chiropractic school two years ago. I am conflicted on the issue. I would love the idea of not having to pay $10,000 but at the same time, I can see the burden that places on the rest of my fellow taxpayers in the United States.
Currently, there is an extension of the repayments until September 30th for those who have Federal Student Loans they are responsible for.