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What the Election Could Mean for Student Loan Forgiveness: Harris vs Trump

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Posting in October, but written before the election. I wonder who won and what the reality of the situation will be?


“As the presidential election heats up, here’s a closer look at each candidate’s plans to address student loans.

“As the 2024 presidential election nears, the fate of student loan forgiveness is at the forefront of many borrowers’ minds, particularly as Vice President Harris and former President Trump have such wildly differing viewpoints. In the first half of this year, federal student loan debt increased by $17.9 billion, bringing total student loan debt in the United States to over $1.75 trillion.

“Approximately 43 million Americans have student loan debt as of 2023, with borrowers owing $37,853 on average in federal student loans, according to the Education Data Initiative. And college is only getting more expensive. Between 2000 and 2021, average tuition and fees jumped by 65%, to $14,307 per year from $8,661, according to BestColleges.com. Not to mention the impact of rising interest rates on student loans — 6.53% for the 2024–2025 academic year, the highest rate since 2007–2008.

Student loan forgiveness has become an increasingly hot topic over the last several years as legal battles over debt relief initiatives leave millions of borrowers in limbo.

https://www.kiplinger.com/personal-finance/election-student-loans-harris-vs-trump

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