My friend is a resident doctor, he will finish his residency in 2 years. He owes over $500,000 in student loans for medical school alone. He laid off his undergrad himself and with the help of FAFSA. He is a hospitalist, he won’t be making a bank like specialty doctors so I doubt he will pay off anytime soon. I really hope this goes through. Exactly! I get that people don’t like trump, but Biden is the embodiment of a politician. America isn’t going to crumble or prosper any more than it is right now. It will be the same game of signing executive orders and everything else getting stuck in congress. Celebrate all you want, but America isn’t going to suddenly turn into a promised land.
So those that took out loans they agreed to pay back suddenly have free education? And what happens to those that didn’t take out a loan for college? They have to take one out AFTER everyone else’s debt has been canceled? How is that fair? This is nonsense. According to the Forbes article I read about this that’s exactly what the plan is: loan forgiveness up for those who need it, tax credits for those who do not, and then scholarships and grants for future students.