Americans already reacting to Biden’s reported student loan handout plan: ‘Highly suspicious’ – Fox News

President Joe Biden is today expected to announce a student loan handout plan that would essentially use taxpayer money to pay off up to $10,000 of student debt per borrower who is making under $125,000 per year.

That means Americans may be footing a nearly $300 billion bill if Biden goes through with the reported plan — plus extends a repayment pause to next year.

The nation’s federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10,000 and more than half owing less than $20,000, according to the latest federal data.

The U.S. federal debt is projected to nearly double the size of the economy by 2051, slowing economic growth and raising the risk of a fiscal crisis, the Congressional Budget Office said in late July, as FOX Business reported.

JOE BIDEN EXPECTED TO ANNOUNCE $10,000 STUDENT LOAN FORGIVENESS PROGRAM ON WEDNESDAY: REPORT

Many hardworking, play-by-the-rules…

Read Full Story: https://www.foxnews.com/lifestyle/americans-bidens-student-loan-handout-plan-suspicious

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