The Biden administration has announced plans to expand its efforts to alleviate the student debt crisis in the United States. The “Big, Beautiful Bill” currently totals $1.8 trillion, representing a significant financial burden for borrowers. The administration proposes utilizing a combination of strategies, including extending repayment timelines and reducing interest rates. This initiative aims to provide more relief to millions of Americans struggling to repay their loans. The long-term effects of these measures are still being evaluated, and the administration has indicated a focus on achieving greater financial accessibility for future generations.
Credits: Finance & economics