> $100k in student loans
I don't really know how student loans work in the US, but I've heard that federal loans payements were indexed on income. For that reason, they are more akin to taxation than to a regular debt. Is that correct?
I don't really know how student loans work in the US, but I've heard that federal loans payements were indexed on income. For that reason, they are more akin to taxation than to a regular debt. Is that correct?
The government cant really afford to forgive everyones loans. The repaid interest goes to federal programs and the principal goes to giving new loans to the younger generation.
However, there is currently at least one lawsuit pending because the gov't is trying to talk its way out of providing the forgiveness. Essentially telling the group that they were mistakenly approved for the program.
Also people should read the program's fine print (in the FAQs). There is no guarantee that the program will remain or that the commitment will be honored.