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The White House estimates that around 43 million borrowers could be eligible for some debt forgiveness. Of those, close to half could have their student loan debt completely erased.
With President Biden announcing his student loan forgiveness plan last week as a way to alleviate some of the financial burdens of millions of people, it is worth understanding how college tuition reached this all-time high, and what can be done to address the rising costs of obtaining a college degree.
The state’s economic prosperity depends on it investing more in colleges and college students and removing systemic barriers to access and completion.
Upward mobility should be the rule, not the exception.