Education

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.