Americans have a lot of student loan debt. And many people are paying down that debt with something called an income-based repayment plan. That’s where your payments are based on your income and you pay a percentage of that income every month. If after 20 to 25 years you haven’t paid off those loans, the government will waive what remains.
So how much is that going to cost the government? The Congressional Budget Office answered that question Wednesday in a report: about $207 billion over the next decade.https://www.marketplace.org/2020/02/13/grad-students-will-receive-billions-in-debt-forgiveness/
July 4, 1881 - A Great Day in History...
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