People walk on the campus of the University of Southern California on March 21, 2024 in Los Angeles, California. plans that, combined with actions the administration has already taken, will benefit over 30 million Americans if the plans are finalized, according to the White House.
People walk on the campus of the University of Southern California on March 21, 2024 in Los Angeles, California.
Under the latest plans, senior administration officials said about 25 million borrowers will receive relief for their accrued interest , about another two million from forgiveness plans like PSLF, SAVE and others, another roughly two million with loans that are 20+ years old, and more than 10 million borrowers with at least $5,000 in debt relief or more.
"Student loan forgiveness isn't only about the relief for today's borrowers. It's about social mobility, economic prosperity, and creating an America that lives up to its highest ideals," Sec. Cardona said.Meanwhile, senior administration officials do not believe the president's new plans will contribute to inflation even though the last plan was estimated at $400 billion, according to the nonpartisan Congressional Budget Office .
Source: Education Headlines (educationheadlines.net)
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