Biden's Debt Relief Plan Helps Graduates

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The average student loan borrower owes about $29,000, and seven in 10 seniors who graduated from college in 2018 had student debt.

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In his first 100 days in office, President Biden has proposed a number of ways to provide relief to borrowers. 

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He wants to make it easier for them to repay their loans and he’s proposed $10,000 in debt relief for federal student loan borrowers.

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The president’s plan also includes free community college and increased Pell Grants for low-income students.

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Some experts say the president’s plan is a good start, but more needs to be done to address the growing problem of student loan debt.

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“The president’s proposals are a good first step, but they don’t go far enough,” said Mark Kantrowitz, publisher and vice president of research at Cappex.com.

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Kantrowitz said the $10,000 in debt relief is a good start, but it’s not enough for borrowers who owe more than that.

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He also said the president’s proposals do nothing to address the root cause of the problem: the high cost of college.

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Image Credit: Google 

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