NASFAA Mention: What Biden's Plans Could Mean for Affording College

"Trapped, hopeless and frustrated with the system that got them there, millions of student loan borrowers feel their futures hinge on President-elect Joe Biden's plans for loan forgiveness," U.S. News & World Report reports. 

..."The extension could be granted within the first few days of the new administration taking office on Jan. 20, says Megan Coval, vice president of policy and federal relations at the National Association of Student Financial Aid Administrators.

Student loan borrowers may also see $10,000 of their debt forgiven under the Biden administration. Experts say taking action to reduce the national student loan debt load may have positive ripple effects on the economy, making it more of a priority for the incoming administration.

'Everything happening with the economy intersects,' Coval says. 'We have the loan payment suspension, but thinking about longer term impacts on higher education and students' ability to be employed and pay back loans, it creates a sense of urgency for them.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 11/30/2020

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