Living
Biden’s Student Loan Freeze Shows Path to Erase Billions of Debt
- Trump administration cut value of loans on government books
- That means it could’ve forgiven billions without immediate hit
This article is for subscribers only.
Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it.
Now, perhaps Joe Biden will.