I don't know a lot about the student loan situation.
@DC_Dude is probably the best resource on here. My understanding is that many had already paid back more than the original amount of the loan. Check with DC to be sure tho.
Why should you be forgiven of a loan you took? It's a literal contract of repayment you want to go back on. Can you reneg on a mortgage or car loan? Nobody tricked people into taking student loans. You signed-up for it and filled-out the paperwork. It's YOUR problem. This is a capitalist society. I think a lot of people are confused and want a socialist society. You're in the wrong country
So the student loan issue has been a problem for several year. Before Bide, before Trump, and before Obama.....In 2007, President George W. Bush signed the Public Service Loan Forgiveness (PSLF) program into law, to encourage college graduates to pursue careers in service of the common good. Social workers, educators, researchers, public-interest lawyers, nurses, and museum curators working 10 years in the nonprofit sector can earn forgiveness on eligible student loans. The program forgives the remaining balance on employees’ direct loans after 120 qualifying monthly payments have been made under a qualifying repayment plan while working full-time for a qualifying employer. Qualifying employers include the U.S. federal, state, local, or tribal government or nonprofit organizations.
The PSLF program was the first initiative to help with the problem...
The problem with student loans is that people are paying back 2-3 times more than they took out. For me, I took out 120K and if it wasn't for Biden's initiative, I would still be paying and my balance would be at 300K because of having to pay the interest.....
Student loans can not be discharged in courts like a mortgage or car payment (both which can be taken away by the bank if you miss payments)....
Most college graduates don't mind having to pay it back, but damn if I take out 50K, why the fuck I got to pay back 150K....
We all know it's very difficult to get a good paying job if you don't have some educational training past high school...I think people assume student loans only apply to people who went to college, but even people who go to trade schools, community college, and etc. usually have to take some loans out.....