"I will not make that happen," he said."I'm prepared to write off $10,000 in debt, but not 50," he said."I don't think I have the authority to do it."national survey conducted by the Harris Poll
"Former students have not been able to get rid of their debt," said Andrew Pentis, a certified student-loan counselor at Student Loan Hero by LendingTree."So it grows with interest, sometimes multiplying over years, if not decades."Too often, families of first-generation Americans reviewing financial-aid packages from colleges and universities don't realize the loans they see being offered must be repaid with interest.
"Higher education operates as a free market," said Chris Mullin, strategy director of data and measurement at the Lumina Foundation, an organization committed to expanding higher-education access.Peter Cade/Getty ImagesCollege tuition is not regulated federally, and there are distinctions between the way private and public universities set them, which directly affects how much money students and their families will pay.
Meanwhile, public-university tuition, which is typically more affordable, is set by individual states. brought on by the coronavirus, Desrochers expects to see states investing less in higher education, leading to institutions shifting those costs onto students instead of trying to minimize their spending.A good chunk of students do not pay the full sticker price for college tuition. According to aThis means, overall, institutions"give substantial grant aid," said Mullin, the Lumina Foundation strategy director.Collectively, student-loan borrowers in the US owe more than $1.7 trillion.
Then eliminate the bankruptcy exclusion Biden helped pass years ago.
Why was Trump banned?
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