President Joe Biden on Tuesday launched a promotional blitz for his new program that helps student loan borrowers repay their debt, just weeks before millions of Americans are set to receive a loan bill for the first time since the beginning of the pandemic.
The Biden administration is mobilizing to convince borrowers across the country to sign up for the new income-driven repayment program — dubbed the “SAVE plan” — which caps interest accrual and lowers the monthly payment amount for many borrowers.
“It’s the most affordable student loan plan ever,” Biden said in a video released by the White House on Tuesday, describing the program as a major reform to a student loan system “that hurt borrowers for much too long.”
“If you’re eligible for the SAVE Plan, sign up now so you can lower your monthly payments in advance of payments resuming this fall,” Biden said.
there’s no real guarantee that higher education will lead to a net gain in the economy though - it might, but it’s not a 100% chance.
k-12 is already free, and a lot of people over the decades have been very productive with just that level of education - daresay they’ve contributed more to the economy - after all, anyone working is a net economic gain over no one working, regardless of their level of education.
Good luck getting a job paying much more than $15 an hour without a college degree. That’ll sure make a big economic gain.