Given the huge decision that came out of the White House last week about student loan forgiveness, we decided to create this special bonus episode all about the announcement and what it means for not just borrowers, but all of the US.
We'll explore the current numbers of federal student loan borrowers, dive into the issues of taxes and inflations (while dispelling some myths!), and hear about the program and changes to expect from FINRA Certified Student Loan Professional® Meagan Landress of Student Loan Planner (link
CORRECTION: We published this episode a few days after the news first broke, and things are quickly evolving in the White House! Here's a quick update on who's eligible for relief: "Current students and borrowers who have federally held undergraduate, graduate and Parent PLUS loans that were distributed on or before June 30, 2022 are eligible for the relief, says Megan Walter, a policy analyst for the National Association of Student Financial Aid Administrators."
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Mentioned in the Episode
Fact Sheet: Student loans: link
Student loan debt vs. mortgage debt: link
Of Dollars and Data: link
Newsweek fact-check on taxes and student loan forgiveness: link
Federal budget deficit: link
Federal budget spending: link
Expense of stimulus checks: link
New tax proposal for households above $400K+: link
Tax Foundation memo on unrealized capital gains on households with $100M+: link
10 richest members of Congress: link
Net worth of $100M+ represents 0.01% of Americans: link
Wall Street Journal's on student loan forgiveness and inflation: link
Mike Solana on the student debt crisis: link
See if you have federal loans: studentaid.gov
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