Joe Biden is once again being led around like a child after shiny objects (votes). Students/children are learning a very bad lesson here, you can borrow money and someone else will pay it for you. The exact opposite of what we should be teaching our kids which is, “don’t buy luxuries on credit, and understand what it means, and what it costs to be in debt.
Ok, I think the loans students have are horribly expensive, almost loansharking, and some sort of relief could be provided. How is this, take all student loans that are up to date and reduce their interest rate to zero going forward? Pell Grants and any government-sponsored loan for sure. The lesson is; to stick to your commitment and agreement, and understand the costs of borrowing money. Oh ya, how big are the endowments at these colleges that are charging students? Really!