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How high hopes for Biden’s student-loan forgiveness plans cost borrowers
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- When then-President Joe Biden announced his first federal student loan forgiveness plan in August 2022, he predicted that it would lift tens of millions of Americans out of longstanding debt.
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To learn more about the CNBC CFO Council, visit cnbccouncils.com/cfo
When then-President Joe Biden announced his first federal student loan forgiveness plan in August 2022, he predicted that it would lift tens of millions of Americans out of longstanding debt. A new study suggests that the promises associated with the thwarted plan contributed to an opposite effect: adding to Americans' financial distress.
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