Around 43 million Americans owe $1.5 trillion in federal student loan debt, an enormous number with broad economic implications.
Student debt has been shown to hamper small-business growth, prevent young families from buying homes, delay marriages and inhibit people from saving for retirement.
Emotionally, too, the effects are wide-ranging. A 2017 study showed students with debt are less likely to enter their desired profession, instead prioritizing loan payments. Adults report feeling depressed over their student loan debt at high rates. According to one survey, 1 in 15 student loan borrowers reported that they had considered suicide because of their debt.
But what would happen if all or some of it were to disappear?
President Joe Bi…
Read the full article at: https://www.nbcnews.com/news/us-news/five-americans-what-50k-federal-student-loan-forgiveness-would-mean-n1268545
