Federal Debt Could Affect College Students Sooner Rather Than Later
Since the beginning of the economic crisis that has plagued the United States’ economy for the past several years, the discussion of ballooning federal deficits and the overall federal government debt has really gained importance.
The COVID-19 pandemic has affected everything in every aspect of life and now it could strongly impact the campaigns for the upcoming presidential election between President Donald Trump and former Vice President Joe Biden on Tuesday, Nov. 3.
Senator Elizabeth Warren’s “Bank on Students Emergency Loan Refinancing Act”, proposed in May 2014 was shot down. The bill sought to “allow most individuals with student loans (both federal and private) to refinance those loans into new federal direct loans at interest rates specified in the bill,” according to the Congressional Budget Office (CBO).
