President Biden finds sweet spot on student loan forgiveness plan

Today, around 45 million people owe $1.6 trillion in student loans under the umbrella of the federal government’s Department of Education. 



August 29, 2022 - 3:11 PM

President Joe Biden announces student loan relief with Education Secretary Miguel Cardona, right, on Aug. 24, 2022, in the Roosevelt Room of the White House in Washington, D.C. (Olivier Douliery/AFP via Getty Images/TNS)

For the last 25 years, the cost of a college degree increasingly has become too expensive for many Americans.

The blame lies primarily on state governments that have consistently cut funding to public higher education, shifting more and more of the cost to individuals. 

The result, predictably, is that a higher education, once again, is viewed as the purview of the elite — or those willing to shoulder debilitating debt. 

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