Student Debt Forgiveness Sounds Good. What Might Happen If The Government Did It?
About one in every six American adults owes money on a federal student loan. So it makes sense that candidates for the 2020 presidential election have proposed ways of dealing with this debt to allow millions of Americans to move on. Their proposals vary.
Some candidates are thinking about it though: Former Housing Secretary Julián Castro says if he were elected, he would reform the repayment system, capping loan payments at zero for borrowers earning under 250% of the federal poverty line — $31,225 for a single-person household in 2019.
About one in every six American adults owes money on a federal student loan. So it makes sense that candidates for the 2020 presidential election have proposed ways of dealing with this debt to allow millions of Americans to move on. Their proposals vary.
Some candidates are thinking about it though: Former Housing Secretary Julián Castro says if he were elected, he would reform the repayment system, capping loan payments at zero for borrowers earning under 250% of the federal poverty line — $31,225 for a single-person household in 2019.
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