The Shady Side of Student Loan Forgiveness

The Shady Side of Student Loan Forgiveness

As the collective student loan debt in the U.S. surpasses $1.7 trillion, President Joe  Biden’s administration is gearing up to provide over $11.5 billion in student loan relief for nearly 600,000 borrowers. In addition to the fiscal nightmare this will pass onto taxpayers, it has also created a predatory market that thrives on selling student data and information.

Student loan debt has been accumulating at an alarming rate, increasing by more than 100 percent in the last decade alone. Perhaps more alarming is that of the 43.2 million student borrowers in debt within the United States, each owes an average of $39,351. Currently, there are some student loan forgiveness programs through the federal government for specific circumstances, such as for public employees or doctors who work in rural areas. But one loan forgiveness program in particular is becoming increasingly problematic: Borrower to Defense…

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