How does Student Loan Forgiveness help Job Seekers and New Graduates?
Student Loan Forgiveness has become the talk of the town, particularly in the US, where student debts have reached a whopping $1.7 trillion. The main reason behind the mounting student debts is the extravagant costs of higher education. It has compelled thousands of students to take massive amounts of debt that they fail to pay back. To curb the impact of the student loan crisis, the Biden-Harris Administration has announced a solution in the form of the Student Loan Forgiveness Program . Let’s understand how student loan forgiveness can benefit job seekers and new graduates. What is Student Loan Forgiveness? In August 2022, President Jon Biden announced a program called Student Loan Forgiveness to write off federal debts and help millions of student borrowers. Biden Administration is offering forgiveness of up to $20,000. It will enable student borrowers to get their student debt discharged or canceled without needing to pay it back. Reasons for introducing Student Loan Forgiven...