What Does President Biden Have Planned for Your Student Loans?Joe Biden has paused undergraduate student loan repayments for the next eight months and looks likely to forgive some debt altogether. Could this make it easier to pay for a graduate business degree?In one of his first acts as president, Joe Biden paused undergraduate federal student loan payments until September 30, 2021. Throughout this period, no one is required to make repayments and all interest is frozen.
The announcement will come as good news for the 45 million Americans currently paying back federal student loans.
Total debt stands at around US$1.6 trillion, with the majority of borrowers owing well over US$10,000. Every month, millions of graduates pay hundreds of dollars in student loan repayments—money which could be invested elsewhere.
Do you have undergraduate student loan debt?
Will Biden cancel student debt?To learn more, please read the full blog post on mba.com:
What Does President Biden Have Planned for Your Student Loans?