WASHINGTON — Despite White House efforts to provide some relief to student loan borrowers, those arriving on campus this fall are being financially squeezed by higher college costs and rising interest rates that make it more expensive to borrow money to cover those expenses.
“Borrowers going into the future need to be aware that rates are probably going to take a significant jump next year,” said Robert Farrington, founder of The College Investor, which advises student loan borrowers. “I think we’re going to see those rates jump at least another 1% to 2% come next school year, which is really going to increase the costs for borrowers.”
But Biden made it clear that the debt cancellation was a one-time event and his plan did not address the underlying issue around the rising cost of college, offering less benefit for incoming students who won't be eligible for loan forgiveness for the money they are taking out to pay for tuition this fall and beyond.President Joe Biden announces a student-debt relief package in the Roosevelt Room of the White House in Washington, D.C., on Aug. 24.
bet your parents and grandparents are real proud of you handout sissys!
If gov cancels loan debt, who will pay for the losses? Again from taxes? If you don't have capacity to pay, don't get loans. Your desire is burden to others. You can ask debt restructuring. But No write off.
BIDEN has no authority to DO that and you WONT challenge that , losers
When does out of control college costa get looked at?
Perhaps the increase in rates will change their voting habits.
You and Ukrainian! Wirh your hands 🙌 down begging ! Yo ! I paid mine pay yours ! That’s the student part ! And Ukraine ! I ain’t your daddy ! Pay for your Shhhhh
lol, don't take on debt that you can't afford
Higher interest rates are not arresting inflation It’s not a monetary problem Bad call by the Fed
Nbc has a lot about loan forgiveness but nothing about the hardworking taxpayers that has to pay it back
Greedy colleges just continue to bankrupt kids
Awfully 'white' looking demonstration. Is that a reflection of who this policy will predominantly benefit?
Thanks Joe Biden.
The Republicans are not a fan of higher education for the average person.
Do No such thing Trade Schools Galore 4 Real Paying Jobs instead of Rotting away with BS & 1/2 The shit U never use Bc sell outs called Teachers & Colleges same Pile of Dog Shit Diesel mechanic starts at 35 he Paramedic & 100k Student Loan will earn U 15.00 Hr It's a No Brained
Why don't they cancel the interest rate
Upper middle class YT libs, marching to stick the rest of us with their debt 🤣
No mention of lowering college cost? How about Harvard and Yale distribute their massive endowments to kids burdened by loan debt No, instead throw it on backs of taxpayers. F that.
Nobody is asking why colleges can’t loan the $ directly to students. Why? It’s their product that determines if the cost is worth it.
The most predictable headline of 2022
And now they want the blue collar workers who went to a trade school and have a mortgage to pay off their student loans
Don't go to College Problem Solved
Amazing Liz Warren & her Consumer Protection extortion scam isn't all over this. It's only price gouging if the other team does it.
They are going to keep going up until government gets out of student loan business.
🤣
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