Share to Twitter Share to Linkedin While broad student loan forgiveness has been a priority for Democrats the last several years, plenty of experts seem to agree President Biden doesn’t have the authority to forgive student debt via executive action. However, it appears student loan forgiveness is again gaining some traction, and that the administration may move forward with some sort of plan anyway. According to insiders, President Biden is planning to stay true to his campaign promise of getting at least $10,000 per borrower in federal student loans forgiven in 2022. While the official plan is yet to be released, experts say the forgiveness package being presented will be tied to income, thus cutting off financial help for student borrowers who earn more than average. PBS PBS NewsHour recently reported that forgiving $10,000 in student loan debt per borrower would eliminate this debt completely for as many as 12 million borrowers. That said, financial advisor Jay Zigmont says it’s important to remember student loan forgiveness has been a discussion for decades, yet not much has materialized. With that in mind, you may want to take this news (and any other rumors about student loan forgiveness) with a grain of… Read full this story
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