The Debt Ceiling Could Pose Big Risks to Borrowers

The U.S. has a massive student loan debt problem, with $144 billion eligible for forgiveness. The new numbers show that $42 billion have already been forgiven, but Republicans are seeking to block further student loan forgiveness and a new repayment plan due to the raging debt ceiling battle — ultimately putting borrowers at risk. I also discuss the potential impact of Biden’s record-low approval rating, how he can secure support from younger voters on issues like student loan forgiveness, and the role of the Supreme Court case in reaching a compromise on the debt ceiling. In today’s episode, you'll find out: The impact of the debt ceiling on student loan borrowers New numbers related to PSLF and income-driven repayment How Biden's record low approval rating and opposition within the Democratic party affect his strategy The increase in forgiven debt due to forbearance and deferment, and its potential to benefit public servants The benefits of the IDR waiver for borrowers How consolidating loans unnecessarily can cost you more in the long run The role of progressive activists and controversial social media memes in shaping the student loan debate The Republican Party's lack of understanding of progressive student loan policies Why the potential delay in the debt ceiling impacts student loan borrowers as Biden awaits the Supreme Court's decision The resilience of forgiveness programs against lawsuits from opponents Why you need to understand different deferment types to ensure eligibility for waivers before consolidating debt Why getting help or scheduling a follow-up consultation is crucial for borrowers with significant student loan debt The outcome of the Supreme Court decision and its implications Links mentioned: Send Student Loan Planner a voicemail   Like the show? There are several ways you can help! Follow on Apple Podcasts, Spotify or Google Podcasts Leave an honest review on Apple Podcasts  Follow on Facebook, Twitter, or LinkedIn Feeling helpless when it comes to your student loans? Try our free student loan calculator Check out our refinancing bonuses we negotiated Book your custom student loan plan Do you have a question about student loans? Leave us a voicemail here or email us at [email protected] and we might feature it in an upcoming show!