Comment on Biden Wipes Out Another $7.4 Billion in Student Loan Debt

the_post_of_tom_joad@sh.itjust.works ⁨8⁩ ⁨months⁩ ago

Ok, so if you want to know why leftover leftists like me are complaining bidens not doing enough to get reelected Even though he’s forgiven 153 billion in debt, i wanna talk just a bit about the ridiculous scale of student debt.

Total student debt in the US is 1.77 Trillion dollars. 92% of that debt is federal student loan debt. Not private corps that’s would have to take a hit (that’s the 8%), federal loans. Now Biden has provided some access to loan relief (with means testing of course, a commenter here can’t even get the money but i digress) to the time of 153 billion usd all told. That might sound like a lot did those numbers are more than we can naturally conceive (anyway i can’t) but subtract 153 billion from 1.77 trillion and you get… 1.616 Trillion.

That… objectively is not much.

source
Sort:hotnewtop