President Biden announced a student loan plan Monday that would help millions of Americans have their debt forgiven in his latest attempt to provide relief to borrowers. Biden announced a plan focused in large part on borrowers with so-called “runaway interest” who owe more money than they did at the start of repayment. The plan, […]
The total amount of student loan debt in the U.S. is $1.727 trillion, according to Education Data Initiative. This includes private and federal loans, but the bulk of this debt is from federal loans.
Social media users claim former US president Donald Trump faced criminal charges for simply taking out a loan and paying it back. This is false; the posts misrepresent a New York civil fraud case in which a judge ruled the Republican presidential candidate and his company had unlawfully inflated his wealth and manipulated the value of properties to obtain favorable bank loans or insurance terms .
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