Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.

  • Flying Squid@lemmy.world
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    1 year ago

    “Most affordable ever” does not mean “most affordable possible.” He tried that. SCOTUS stopped him. He’s doing what he can to make the situation better.

    • goforliftoff@lemm.ee
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      1 year ago

      Honestly I think this is better on the whole. Not if you were going to get your loans forgiven - I get that - but for today and tomorrow’s borrowers, this policy will be a positive thing and will still help current debt holders, too.

      • Olgratin_Magmatoe@startrek.website
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        1 year ago

        It can actually end up having the effect of causing tuition to go up.

        When student loans became loans that couldn’t get forgiven, and federal student loans became widely accessible for poor students, tuition prices got jacked up because the universities knew that they could get away with it. I imagine a similar thing will happen here.

        The only true solution is to have free public higher education like the rest of developed nations do.

    • SupraMario@lemmy.world
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      1 year ago

      Fed loans should be scrapped, the reason college is so expensive is colleges see that the gov will give loans to anyone and back them up. The second that this became the norm, these colleges just saw a blank check.