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Are no-interest loans a simple fix to the student debt crisis?

August 23, 2022

President Joe Biden continues to mull over possible variations of wide-scale student loan forgiveness, including one plan from the U.S. Department of Education that reportedly could cover several million borrowers. That would make good on a campaign pledge Biden made to forgive at least $10,000 per borrower, but critics argue debt relief without reforms to the student loan system will leave future borrowers in the same predicament as those who owe money today.

Hildreth’s proposal argues interest-free federal loans would provide a sustainable solution by keeping loan balances from skyrocketing and avoiding the need for periodic loan forgiveness.

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