Life and Debt: What’s next for student loan borrowers
It’s a weight felt by over 43 million Americans. It’s pitched as a necessity for building a better life. There was a chance that some of it was going to be forgiven.
According to the Education Data Initiative, the average student loan debt balance is upwards of $40,000. And the cost of college keeps rising. Over the past 20 years, college tuition at in-state public universities has risen 175 percent. The numbers can be dizzying, especially for recent high school grads.
Currently, the Supreme Court is deciding the fate of President Joe Biden’s student relief plan. At the same time, the pandemic-era pause on student loan payments is set to end. For over three years now, borrowers haven’t had to pay a dime, but it all may be about to change.
We wrap up our Life and Debt series in partnership with Bloomberg to look at student debt and what comes next.