Student debt: It’s the interest, stupid
From The Hill: “The constant, unrelenting, day-by-day buildup of interest is the beating heart of student debt. It’s time Congress put a stake in it. Borrowers will repay more than $240 billion in interest over the next 10 years. Getting rid of it would mean a lot of forgiveness. The COVID-19 moratorium on interest payments has provided borrowers with more than $100 billion in relief or about $4 billion to $5 billion a month, although the relief is set to end this May (maybe). Ask any student borrower — it’s been a big help. Ending interest permanently would also make overall student debt reform much easier.”View the full article from The Hill.
Weekly Education Email Newsletter
Our weekly email delivers all the latest news from the world of higher education direct to your inbox.