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Search resuls for: "Penn Wharton"


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She would qualify for the full $20,000 amount of Biden's broad student-debt relief plan. Alexandria Mavin, 33, has $90,000 in student debt. A common thread among opponents of the debt relief plan is that it's unfair to those who have already paid off their loans, or funded their higher educations on their own. "It's crazy to see with just this one student loan being gone, how much financial freedom I'm finding just from one measly $400-a-month student loan," she added. But when it's 45 million people," Mavin said, referring to the number of Americans with student debt, "that's a scam."
Biden's plan to forgive student loans could cost more than $1 trillion, per an analysis. Under the plan, around 20 million borrowers would eligible to have their full debt wiped out. The plan also included extending student loan forbearance to the end of the year, which the model estimates would cost another $16 billion. That additional $520 billion would take the total costs of the student loan forgiveness plan to over $1 trillion, Wharton said. Americans currently have a collective student loan debt of around $1.6 trillion, per federal data.
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