2 years ago during the pandemic the US Government paused student loan repayment till 31st Aug 2022.
Now what will happen on 1st Sep 2022 would the students repay the loan or Joe Biden may announce debt forgiveness?
Possibility president Biden may announce student loan forgiveness up to $10000 in debt for those who earn up to $125k annually.
According to the CNBC survey, nearly 60% of Americans think that forgiveness of student loans will make an impact on students' pockets and inflation too.
The loan cancellation will provide more money to students for spending which could cause high inflation but many people don't agree with this fact.
The Student loan also has the possibility of an extension of the repayment pause period for the next several months.
If the president allows loan forgiveness then these borrowers may be eligible for benefits: Federal Direct Loans, FFELP Loans, Perkins Loans, Parent PLUS Loans, and Grad PLUS Loans.