White House budget assumes student-debt forgiveness will move forward

MarketWatch ^ | Mar 9, 2023 | Jillian Berman

[upchuck]

The Department of Education's request for funding for the Office of Federal Student Aid took into account the costs and savings from the plan

Borrowers across the country are in financial limbo as they wait for the Supreme Court to decide whether the White House's student-debt cancellation plan is legal. But the Biden administration's own financial planning presumes the initiative will survive the courts.

As part of the Department of Education's funding request to Congress for $2.7 billion for the Office of Federal Student Aid, officials took the costs and savings into account of President Joe Biden's plan to cancel up to $20,000 in student debt for a wide swath of borrowers, Undersecretary of Education James Kvaal said on a conference call with reporters Thursday.

The "budget assumes that we will move forward," with the plan, Kvaal said.

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FJB

[algore]

the ease of getting student loans and the difficulty in discharging these loans has increased the cost of education and caused a lot of problems.

if it were easier to discharge loans in Bankruptcy it would solve a lot of problems.

[familyop]

I don’t see any MarketWatch article on that Ameritrade login page behind your link.

[DAC21]

So in other words the threats have been delivered to John Robert’s and Co.

[norwaypinesavage]

This is great. There’s a half $trillion right there to cut out.