Canceling student loans would help Floridians in debt

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It has been reported that President Joe Biden is considering canceling $10,000 in student loan debt for each person who took out a federal loan. A new study indicates that if this were to happen, it would have a significant impact on Americans struggling to repay their debt. . According to a new study, nearly one in three Floridians with federal student loans would see all of their debt eliminated if Biden forgave $10,000 per person. “That would be absolutely amazing. I mean, I have a bit of debt right now, so I’m probably going to pay a mortgage and I don’t even own a house,” Adonis Carrasco, a student said. A new analysis published by LendingTree’s Student Loan Hero found that 33% of Americans would see all of their student debt wiped out if Biden canceled $10,000 in federal debt per person. “If you’re just starting out, like a lot of college students, that’s a big deal and I could see where it could help,” said Joe Bert of Certified Financial Group. According to LendingTree, Floridians average just over $35,000 in student loan debt. The president’s plan that would be considered would only cancel federal student loan debt and not private debt. Financial expert Bert says that overall the plan would not have a significant impact on the larger economy, but would benefit individual borrowers. “In terms of gross domestic product, it’s insignificant, it won’t move interest rates, it won’t move the stock market. It will definitely help people who are fresh out of school and have this debt like seeing this has relieved them,” Bert said. Current students say the loan forgiveness would not only help them stay in college, but also help them stay focused on what they should be focusing on while they “I feel like if I were to clear my debt, I wouldn’t have to worry about things like getting loans and I could focus on my studies like other students,” said Hadi Chaaban, a UCF student At this point, it remains unclear what exactly the Biden administration will do with regards to student loan forgiveness.

It has been reported that President Joe Biden is considering canceling $10,000 in student loan debt for each person who took out a federal loan.

A new study indicates that if this were to happen, it would have a significant impact on Americans struggling to repay their debt.

According to a new study, nearly one in three Floridians with federal student loans would see all of their debt eliminated if Biden forgave $10,000 per person.

“That would be absolutely amazing. I mean, I have a bit of debt right now, so I’m probably going to pay a mortgage and I don’t even own a house,” Adonis Carrasco, a student said.

A new analysis published by LendingTree’s Student Loan Hero found that 33% of Americans would see all of their student debt wiped out if Biden canceled $10,000 in federal debt per person.

“If you’re just starting out, like a lot of college students, that’s a big deal and I could see where it could help,” said Joe Bert of Certified Financial Group.

According to LendingTree, Floridians have on average just over $35,000 in student loan debt.

The president’s plan that would be considered would only cancel federal student loan debt and not private debt.

According to financial expert Bert, overall the plan would not have a significant impact on the economy as a whole, but would benefit individual borrowers.

“In terms of gross domestic product, it’s insignificant, it won’t move interest rates, it won’t move the stock market. It will definitely help people who are fresh out of school and have this debt like seeing this relieved,” Bert said.

Current students say the loan forgiveness would not only help them stay in college, but would help them stay focused on what they should be focusing on while they’re there.

“I feel like if I were to clear my debt, I wouldn’t have to worry about things like getting loans and I could focus on my studies like other students,” said Hadi Chaaban, a student. of UCF.

At this point, it’s still unclear what exactly the Biden administration will do with regards to student loan forgiveness.

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