President Biden has come up with a new plan to forgive student loan debt, after his original order was struck down by the Supreme Court. The High Court ruled last month the president had overstepped his authority in trying to wipe out some $400-BILLION in student loan debt. Now the administration is proposing what it […]
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Students Could Repay Zero Under Biden Student Debt “Repayment” Plan
President Biden has come up with a new plan to forgive student loan debt, after his original order was struck down by the Supreme Court. The High Court ruled last month the president had overstepped his authority in trying to wipe out some $400-BILLION in student loan debt. Now the administration is proposing what it calls thr SAVE Plan, something the president calls “the most affordable repayment plan ever.” And no wonder. Millions woud have their monthly “payments” reduced to zero, no interest would accumulate so long as borrowers make their payments, and any remaining balance wold be canceled after TEN years. Critics say is just a backdoor way of forcing American taxpayers to bear the cost of unpaid student loans.