Student Loans Are In Trouble


If you have a student loan, you are maybe gonna get some relief from the presidents rescue plan. 1.6 trillion dollars is what some experts say will be lost if everyone skips out on paying the money back. Now, that means the government losses would be worse that the 08 housing bust. The president wants to help by cutting everyone's student loan by x amount but most economist say even 10 grand wouldn't help people much. These loans are backed by the government to the banks so they will be paid. Even if you file bankruptcy, you still have to pay this back. It will be interesting to see how this works out. This was one of President Biden's biggest promises to young people to help get elected. I wonder if he will actually be able to pull it off.