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Student Debt: What Biden Does (and Doesnt)

Student Debt: What Biden Does (and Doesnt)

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I went to Katie Lobosco, the CNN writer who covers student loans, to better understand how much student debt is, who owns it, and what else the government could do about it.

WHAT MATTERS: First, can you tell us how much of a problem student debt is in the United States? How much is due and by how many people?

LOBOSCO: It’s big. According to the Federal Reserve, Americans owe nearly $1.8 trillion in student loan debt, more than they owe on credit cards or auto loans.

The majority of student debt is owed to the federal government and held by about 43 million people, according to Federal Student Aid. Continue reading Student Debt: What Biden Does (and Doesnt)