The president’s debt cancellation plan will help millions of borrowers who have fallen through the cracks of a broken higher education system.
Each year, the federal government makes billions of dollars available in loans to students pursuing a college degree or postsecondary credential. These loans are made under the guise of a higher education system that is still affordable and functional, includes a working and accurate repayment system, and provides access to high-quality institutions and a pathway to economic opportunity. But today’s outstanding student loan debt balance of $1.6 trillion shows this is no longer the case.
The above excerpt was originally published in InsideSources.
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